LOCA, a leading mobility service provider in Laos, has secured significant investment from the Asian Development Bank (ADB) supported by the United States Agency for International Development (USAID). This funding will enhance LOCA's electric vehicle (EV) initiatives, including an expansion of its EV fleet and charging infrastructure across Laos.

Since its inception in 2018, LOCA has shown remarkable growth in promoting electric mobility. From a mere 40 EVs in 2021, LOCA now boasts a fleet that includes 600 EV drivers among its 1,000 total drivers. The company has committed to a full transition to electric vehicles by 2030 and plans to phase out internal combustion engine vehicles by 2025.

LOCA's expansion isn't just about adding more vehicles; it's also about enhancing infrastructure. With 24 EV charging stations already in place and plans to increase this number to 40 by the end of 2024, LOCA aims to support the growing number of EV users in Laos, which is currently seeing an addition of about 500 new EVs monthly.

Souliyo Vongdala, Co-founder and CEO of LOCA, expressed enthusiasm about the new funding, stating it would boost their efforts to establish a sustainable transportation network. Phonepasong Mixab, Co-founder and Co-CEO, emphasized the importance of expanding their charging infrastructure to support EV drivers effectively.

This development marks a significant milestone in Laos’s journey towards sustainable transportation, positioning LOCA as a frontrunner in the region's e-mobility sector.