Southeast Asia Information Port News (www.dnyxxg.com) – LOCA Limited, a leading ride-hailing and electric vehicle mobility platform in Laos, announced that it has secured a US$2.5 million strategic investment from InfraCo, a division of the Lao Private Infrastructure Development Group (PIDG). This is PIDG's first investment in Laos, demonstrating international recognition of Laos' sustainable transportation potential and LOCA's development vision.
Use of Investment: Expansion of Charging Network and Fleet
The funds will be primarily used in two areas: firstly, to build approximately 54 new electric vehicle charging stations across Laos, bringing the total number of charging stations nationwide to 93; and secondly, to expand the electric taxi fleet. This initiative will not only serve LOCA's own fleet but will also benefit electric vehicle owners nationwide, alleviating range anxiety, facilitating long-distance travel, and contributing to the popularization of electric vehicles and Laos' clean energy transition.
Market Potential and Industry Background
Ride-hailing is becoming one of the core modes of transportation in Laos, driven by the growth of the city's tech-savvy population and the increasing demand from local residents and tourists. Data shows that the Lao ride-hailing market is projected to grow at a CAGR of 4.33% from 2025 to 2030, with a market size exceeding US$8 million and approximately 1.6 million users by 2030. Simultaneously, the Lao government is supporting the electric vehicle industry through policies such as reducing vehicle import taxes and road usage taxes, aiming for electric vehicles to account for 1% of the market by 2025 and over 30% by 2030, in order to reduce reliance on fuel imports and lower carbon emissions.
Statements from Both Parties and Project Significance
Claire Jarat, Head of Infrastructure Investment Management at PIDG, stated that the cooperation demonstrates PIDG's commitment to investing in companies focused on climate action and sustainability, and that future cooperation in the Lao market will deepen in areas such as energy electrification and transportation logistics. Souliyo Vongdala and Phonepasong Mixab, co-founders of LOCA, emphasized that the investment will accelerate the improvement of Laos' charging infrastructure and promote the transformation to green mobility. This project, by supporting sustainable infrastructure development, aligns with UN Sustainable Development Goal 9 (Industry, Innovation and Infrastructure).
