LOCA Secures Funding from ADB Frontier to Expand EV Fleet and Charging Network

Vientiane, Laos – 22/05/2024 – LOCA, the pioneering mobility service provider in Laos, is proud to announce that we have secured funding from the Asian Development Bank (ADB) through ADB Frontier, with support from USAID. This significant funding will enable LOCA to expand its electric vehicle (EV) fleet and its EV charging network across the country.

 

LOCA has been at the forefront of the e-mobility revolution in Laos. Starting with just 40 EVs in the country, LOCA has grown exponentially, now operating with a robust fleet of 1,000 drivers, including 600 EV drivers and 150 female drivers. LOCA’s ambitious goal is to achieve 100% EV integration by 2030, with a policy to cease accepting internal combustion engine (ICE) vehicles after 2025.

“We are thrilled to receive this funding from ADB Frontier, supported by USAID, which will accelerate our efforts to create a sustainable and innovative mobility ecosystem in Laos,” said Souliyo Vongdala, Co-founder & CEO of LOCA. “This support underscores the confidence that ADB and USAID have in our vision and our ability to drive positive change in the transportation sector.”

Laos is currently adding 500 EVs every month and trend to grow even more. To support this growing fleet and public EV usage, LOCA has established itself as the leader in the EV charging market, capturing over 80% of all EV drivers in the country. With 24 charging stations already in operation across the country, LOCA aims to increase this number to 40 by the end of 2024.

LOCA’s journey towards e-mobility began with a strong commitment to sustainability and innovation. The company is dedicated to providing eco-friendly transportation solutions and contributing to the reduction of carbon emissions in Laos. The funding from ADB Frontier will be instrumental in scaling these efforts, ensuring that more EVs and charging stations are available to meet the increasing demand.

“We would like to extend our heartfelt thanks to our dedicated drivers, loyal customers, and hardworking team for their unwavering support,” added Phonepasong Mixab, Co-founder & Co-CEO of LOCA. “Together, we are driving towards a greener and more sustainable future for Laos.”

 

For more information, please contact:

LOCA COMPANY LIMITED

7th Floor Vientiane Plaza Hotel, Saylom Rd, Vientiane, Laos

Email: [email protected]

Phone: +8562098111129

 

Learn more about ADB Frontier: https://www.adb.org/what-we-do/private-sector-financing/adb-frontier

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