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CATS sees local electric vehicle market to further grow - BusinessWorld Online

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LUXURY vehicle distributor CATS Group of Companies is optimistic about the growth of electric vehicles (EVs) in the country, citing surging consumer demand.

LUXURY vehicle distributor CATS Group of Companies is optimistic about the growth of electric vehicles in the country, citing surging consumer demand.

Mr. Ang added that EV infrastructure is another factor considered by CATS in introducing EVs domestically. Meanwhile, Mr. Ang said that CATS occupied 35% of the luxury vehicle market. However, he said that CATS has lost its “market leader” status in the luxury segment due to supply issues. On Jan. 17, global automotive distributor Inchcape announced that it took a controlling stake, or 60%, in CATS as part of a joint venture agreement between the two companies. The Ang family, founder of CATS, will retain 40% of the company.

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