LOCA has launched a USD2.5 million Green Bond to scale up electric vehicle (EV) adoption and infrastructure across Laos. The funds will support the expansion of its EV charging network, including converting unused gas stations into EV charging and community hubs.
A portion of the funds will also be allocated to growing LOCA MINI, an all-electric taxi service, aimed at offering safe and accessible urban transport. The bond is being issued with support from BCEL-KT Securities, LDB Securities, and Lao-China Securities.
The company is advancing its original 2035 target to become a fully electric fleet by five years, now aiming for 2030. Currently, 90 per cent of its 1,000+ drivers use EVs. With over 8,000 BEVs registered in Laos and EV drivers saving up to 70 per cent in fuel costs, LOCA believes the transition is both economically and environmentally beneficial.