Southeast Asia's EV Race Has a New $30M Frontrunner

Jiuzi Holdings lands $30M from Xinhui Solar to build EV charging networks across Southeast Asia's fast-growing markets

5 Feb 2026

Jiuzi Holdings, a Nasdaq-listed Chinese electric vehicle retailer, has secured two rounds of equity investment totalling $60mn from Xinhui Solar Technology Group to build out EV charging networks across Southeast Asia, marking a significant bet on a region still in the early stages of clean transport adoption.

The first agreement, signed on January 30, combines equity with co-development commitments across charging infrastructure, integrated EV service platforms, and energy management systems. Xinhui Solar cited the region's growth potential as its primary motive. Four days later, it announced a further $30mn to sustain the expansion.

The deals represent a shift in strategy for Jiuzi, which built its business on domestic retail in China before pivoting to regional infrastructure.

The timing reflects broader trends in Asia-Pacific. The region generates roughly 60 per cent of global EV charging revenue, with markets forecast to reach $14.87bn in 2026. Vietnam, Indonesia, and Thailand are among the most closely watched by investors, given rising vehicle ownership and limited existing charging provision.

India is drawing parallel attention. The government's PM E-DRIVE programme, launched in late 2025, earmarked $1.1bn for the installation of 72,000 public charging stations, extending the regional investment case well beyond Southeast Asia.

The "capital plus technology plus channels" model outlined in the Jiuzi-Xinhui agreement is becoming a recognisable template across Asia-Pacific, where single operators have struggled to deploy at scale alone.

How quickly that model translates into operational networks, and whether first-mover advantages hold in markets with fast-moving regulatory and competitive conditions, remains to be seen.