Cambodia Leapfrogs Past Vietnam with the Angkor EV

Cambodia’s Heng Development Company shocked the world when they introduced a locally designed and manufactured electric car, the Angkor EV. Designed by local innovator Nhean Phaloek, the battery-powered Angkor EV 2014 is said to be able to go 300 kilometers (185 miles) between charges and has a top speed of 60 kilometers per hour (37 miles per hour). Price is expected to be under US$10,000.

No country was perhaps more shocked by this than Vietnam, as Cambodia is often thought of as Vietnam’s “little brother” and lags behind the country in the emerging markets category. Words such as “jealous” and “ashamed” have even been used by many Vietnamese in regard to this development.

Well, there’s nothing to be embarrassed about my Vietnamese friends. Competition is healthy, and (thankfully) the free market is still alive.

For more details, click here to jump over to Thanh Nien News.