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World Bank Highlights Roadmap for Cambodia's Electric Vehicle Goals

Phnom Penh, March 28, 2024 - The World Bank has confirmed that Cambodia can achieve its ambitious goal of increasing the number of electric vehicles on the roads if it follows a carefully prepared plan.

According to a World Bank report on "Recommendations for the National Roadmap on the Transition to Electric Vehicle Usage," recommendations are provided for Cambodia's continued efforts in formulating a national policy framework to promote the use of electric vehicles and offer a collective vision around seeking ways to shift away from a market dominated by gasoline and diesel vehicles, which are entirely imported.

The report indicates that to ensure electric vehicles are more prevalent on the roads than gasoline or diesel vehicles, Cambodia must reform the regulatory framework for vehicle imports and usage, gradually tighten regulations, and should implement policies that no longer allow gasoline or diesel vehicles to operate on the roads once they reach a certain age.

The World Bank confirms that this approach will increase demand for new vehicles and help speed up the entry of electric vehicles into the market. In the short term, electric motorcycles and three-wheelers are expected to lead the way in the transition to electric vehicle usage in Cambodia.

The World Bank's Country Manager for Cambodia, Mariam Sherman, stated that the goal of transitioning to electric vehicles could be achieved and would help Cambodia reach its ambitious carbon neutrality targets.

She further mentioned that this goal requires careful consideration of this transition, while currently, Cambodians benefit from using low-cost imported vehicles, which come at a significant environmental cost and pose a challenge to the increase in electric vehicle usage as well.

Ms. Sherman emphasized, "We are committed to assisting the government in this transition and finding feasible ways forward."

The Secretary of State for the Ministry of Economy and Finance, Ros Seilava, stated that the report complements the government's initiative to encourage the shift towards electric vehicle use in Cambodia.

He added, "The World Bank's report is a testament to the government's intent to provide recommendations focused on evidence-based strategies for transitioning to electric vehicle use in Cambodia."

It's noteworthy that in December 2021, the Cambodian government set the goal of becoming a carbon-neutral economy by 2050. The government's strategy for zero-carbon transportation includes targets of 70% of motorcycles and 40% of cars and public transport vehicles in urban areas to be electric by 2050. Currently, the number of electric vehicles operating on Cambodian roads is less than 1,000.

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