AGE targets sales of 4,500 EVs in 2026, aims for new business to exceed 50% of revenue within 3 years

Thunhoon·2 Oct 2026·

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Corporate Action Industry Oil, Gas & Consumable Fuels

AGE.BK ▲

Summary · why it matters

Asia Green Energy Public Company Limited, or AGE, disclosed that its electric vehicle dealership business under AGE Venture Company Limited has accumulated sales of approximately 5,000 units after about a year and a half of marketing, and has set a target to close 2026 with sales of approximately 4,500 units, or an average of nearly 500 units per month. Mr. Pongtham Danwangdoem, head of investment for the AGE group and managing director of AGE Venture, said that currently AGE Venture operates 10 showrooms covering 5 main brands: Omoda & Jaecoo, Chery, GWM (Great Wall Motor), Mitsubishi and Zeekr, and most recently added the Aion brand, initially sold together with the Chery showroom at Chaengwattana. For the 2027 plan, the company will expand by approximately 2-3 more branches, but will focus on expanding after-sales service, especially investment in paint shops, to increase sales from existing showrooms. Currently revenue from the EV business accounts for approximately 30-35% of total revenue, with a target in 2027 for the automotive business group to account for 35-40% of total sales, and a major goal within 3 years to become the first listed company to build a new business until it accounts for more than 50% of revenue compared with the original business. As for the flood situation, it affected only the short term this month, with all 10 showrooms and the company's vehicles not affected at all, and new car purchases for replacement are expected to return to the system next month, keeping overall sales this year in line with the target. Meanwhile, the AGE group overall has 4 business groups: coal, logistics, biomass and EV dealership, with the coal business still profitable on stable margins and market prices, allowing profit to grow compared with last year, while the biomass business is expected to recover better in the third quarter and fourth quarter of 2026.

Asia Green Energy Public Company Limited ▲