Ask most people why they would buy an electric vehicle ‘a few years ago’ and you might expect the answer to be about the planet. But a new regional survey of 2,505 consumers across Singapore, Malaysia, Thailand, Indonesia and Vietnam tells a different story. For many Southeast Asians, the push towards EVs is less about climate concerns and more about something much closer to the wallet: the cost of filling up the tank.

It’s about the money

When asked about their top priorities for switching to an EV, 73% of respondents across the region pointed to high or rising fuel costs and the potential for savings. Environmental motivation followed at 55%. That gap is telling. The environmental case for EVs clearly matters, but when it comes to making the switch, household economics appear to be doing more of the convincing. Thailand is the clearest example. 84% of respondents there cited fuel savings as a top priority, followed by Indonesia at 75% and Singapore at 75%. Malaysia came in at 68%, while Vietnam stood at 62%.

Why this matters

It is easy to think of fuel savings as a practical consideration sitting somewhere below the bigger issue of climate change. It may be one of the strongest levers for getting people to change their behaviour. Environmental appeals ask people to make a change for a long-term collective benefit. Saving money on every journey offers a much more immediate reward.

That becomes particularly relevant in markets where households are more sensitive to everyday transport costs. Thailand and Indonesia, for example, both record strong interest in buying an EV soon, with 41% of respondents in each market saying they intend to make the switch. Singapore on the other hand, despite being a wealthier and highly urbanised market, 61% of respondents say they have no plans to buy an EV anytime soon.

Price used to be the problem

Interestingly, the same economics now pulling consumers towards EVs were also keeping them away. When asked what had held them back from considering an EV a few years ago, 42% of respondents across the region cited price, tied with charging infrastructure as the most common barrier. In Malaysia, price was an even bigger concern, cited by 50% of respondents.

That picture is starting to change as more brands, and price points enter the market. 34% of consumers across the region say the wider range of EV models and prices has been a major influence on their purchase decisions. In Vietnam, that rises to 47%.

So, what’s actually changing minds?

Perhaps the most interesting finding is what consumers say has changed their minds about EVs. Fuel cost savings came out on top at 29%, more than double the share who pointed to more affordable prices at 15%. Environmental concerns, government incentives and influence from friends and family all came in below 10%.

In Indonesia and Thailand, the effect is even stronger, with 44% and 40% respectively saying fuel savings have influenced their decision to consider an EV.

A transition driven by value

The EV story in Southeast Asia may not be quite as simple as an environmental revolution. The environmental case still matters to more than half of consumers. But for many, the decision is becoming much more personal and practical. What happens to the household budget may matter just as much as what happens to the planet.

And perhaps that is what makes the region’s EV transition so interesting. It is not necessarily a change in values. It is a change in value. One fuel bill at a time.

‍Based on findings from Milieu’s 2026 EV Sentiment Study. Survey conducted between 24 to 28 July 2026, across Singapore, Malaysia, Thailand, Indonesia, and Vietnam. N=2,505. Interested to access the full dataset? Get in touch with us at sales@mili.eu