This week, we interviewed Mr. Sergei Bakulin, CEO of AIQAR Cambodia, one of the newest companies to enter the electric vehicle (EV) market in Cambodia. AIQAR appears poised to make its mark in the fast-growing sector with a diverse lineup that caters to different lifestyles and budgets. Mr. Bakulin has a unique perspective on the industry, starting as a racer in Russia and eventually collaborating with Chery while he was still racing — the company that now produces AIQAR EVs. Read on to find out more about Sergei’s journey to Cambodia and AIQAR’s aspirations in Cambodia!

EuroCham: Can you tell us a little bit about yourself and how you came to be CEO of AIQAR Cambodia?

Sergei: I have been in Cambodia for the past 10 years, gaining business experience in the hospitality industry. In addition to my business pursuits, I have a deep-rooted passion for the automotive industry, stemming from my professional racing background. I am proud to have been a multiple-time Russian Rally Champion, with notable achievements including securing the title in 2012, 2013, and 2014, as well as clinching the Russian Rally Cup in 2009 and the World Rally Championship 2013.

My automotive journey also includes significant partnerships with prominent brands such as Liqui Moly (Germany), Lada (Russia), and Chery (China) during specific periods. My collaboration with Cherry left a lasting impression as I was genuinely impressed by the quality of their vehicles and the driving experience they offered.

Over the past two years in Cambodia, I have noticed an increasing presence of electric vehicles. However, due to concerns regarding the level of after-sales service and a negative experience with vehicle maintenance (frequently requiring repairs after servicing), I was hesitant to invest in an electric vehicle. This eventually led me to seek out a business partner specialising in after-sales services, recommended by market reputation, and with whom my longtime acquaintance, the chief engineer of the racing team I previously worked with, was also associated. 

This partnership encouraged me to pursue the official distribution of AIQAR, Chery New Energy, under the esteemed umbrella of Chery Automobile. On 16 December, we proudly inaugurated our first showroom in Cambodia. 

EuroCham: EVs are dominating headlines but so far, the industry has yet to fully take off in Cambodia. What is your gameplan to carve out a stake in this developing market?

Sergei: As the EV industry gains traction globally, including increasing interest in Cambodia, Chery Automobile Group is strategically positioned to make a significant impact in this developing market. With 26 years of international market experience and a portfolio of over 25,000 patented technologies, Chery Automobile Group is at the forefront of automotive innovation, committed to driving a sustainable future for the industry.

What sets our brand apart from others in the market is our commitment to offering a fair price-value balance. Our vehicles are designed to provide increasing benefits as they are used. For instance, while some cars use cheaper, potentially toxic materials for their interiors, our AIQAR models incorporate the latest technologies, ensuring that every dollar spent delivers tangible advantages for the driver and passengers.

Furthermore, our product lines encompass five distinct models tailored to complement various lifestyle needs, ranging from compact city cars to modern SUVs like the EQ7 and the adventure-ready EQ3. With price points spanning from 14k USD to 60k USD, our vehicles cater to a wide range of preferences and budgets.

In essence, these qualities make AIQAR an ideal choice for both personal use and corporate fleet investments, aligning with the diverse needs of the Cambodian market and setting the stage for our expansion and success in the region.  

EuroCham: If I buy an AIQAR EV today, where can I charge it?

Sergei: Firstly, you can easily charge your car at home if you have access to a power socket. All our cars come equipped with a travel charger (3.5 kw) and can be charged from a standard home socket, making it as simple as charging your laptop. Just plug it in overnight at your parking space for a hassle-free charging experience. 

Moreover, when it comes to fast charging infrastructure, Cambodia currently boasts 21 fast charging stations, with 10 of them in Phnom Penh. For specific locations, a detailed charging station map is available via this link. 

We are excited to share that we have partnered with several EV fast charger providers. One of them is CHARGE+, a leading Singaporean company providing integrated EV charging solutions for Cambodia and Southeast Asia. This partnership will see us signing a memorandum of understanding (MoU) with CHARGE+. Notably, CHARGE+ is the first company in Cambodia to be licensed to install EV chargers and aims to install 4,000 charging points by 2030, with the first set of chargers slated for installation as early as 2024. This significant step will contribute to the growth and accessibility of charging infrastructure for EVs in Cambodia.  

EuroCham: There’s also been some buzz saying EVs aren’t necessarily more environmentally friendly compared to petrol-based vehicles when considering the whole EV supply chain. I did notice AIQAR EVs have recyclable batteries. What is your response to the environmental question and could you tell us about the recyclable batteries?

Sergei: Firstly, it’s essential to highlight that electric vehicles, including AIQAR’s models, play a vital role in reducing emissions of CO, HC+NOx, and other harmful pollutants, thus significantly contributing to a cleaner and healthier environment. This reduction in greenhouse gas emissions is a clear advantage of electric vehicles over traditional petrol-based vehicles.

Additionally, AIQAR EVs are equipped with recyclable batteries as part of our dedication to reducing our environmental footprint. These batteries are responsibly disposed of and recycled at the end of their useful lifespan. Our battery manufacturer, CATL, is at the forefront of environmental responsibility and is fully responsible for the recycling of our batteries. This ensures that the end-of-life batteries are handled with the utmost care and in compliance with regulations.

EuroCham: Do you own and drive an EV? If not, do you plan to? What is the driving experience like for the flagship EQ3?

Sergei: As a professional racer with a deep passion for cars, I hold high standards when it comes to vehicle selection. For example, last year I owned and drove prestigious cars such as a favorite model of the Schumachers – the Ferrari F430, and the Porsche Macan. Currently, I am behind the wheel of an AIQAR EQ7, but I am eagerly anticipating the arrival of the AIQAR EQ3 at the end of January.

The EQ3 is a game-changer in the EV space, delivering a unique driving experience. It is the world’s first intelligent 4WD, offering an impressive nine driving modes, equipped with two motors, and showcasing acceleration capabilities of up to 6.5 seconds to reach 100km. It’s remarkable range of 512 km on a single charge sets it apart, and its bold and charismatic appearance is reminiscent of a blend between the Hummer, Defender, and Tesla Cybertruck. The anticipation for its arrival is palpable, and I am excited to experience the driving dynamics and technological advancements that the EQ3 offers. 

EuroCham: China is a leader in the EV industry. Is there a blueprint to consult that could work for Cambodia? How has the market developed into what it is today in China?

Sergei: China’s prominent position in the electric vehicle (EV) industry serves as an inspiring model for the development of similar initiatives in Cambodia. While Cambodia may not directly replicate China’s blueprint, there are valuable insights and strategies that can be drawn upon, tailored to suit Cambodia’s unique circumstances and market dynamics.

China’s EV market has evolved into a flourishing industry due to several key factors. The government’s stringent policies and incentives have played a pivotal role in fostering the growth of the EV sector. Substantial financial support through subsidies, tax incentives, and infrastructure development have been instrumental in incentivizing consumers to adopt electric vehicles. Furthermore, the establishment of charging networks and the implementation of strict emission regulations have contributed to the significant expansion of the EV market.

Additionally, strategic partnerships between the government, private sector, academia, and research institutions have been integral to the development of advanced technologies and the creation of a robust EV ecosystem in China. These collaboration efforts have accelerated innovation, research, and development, establishing China as a global leader in EV technology and production.

Certainly, Cambodia can benefit from studying China’s comprehensive approach to advancing the EV industry. Tailoring policies to provide financial incentives, developing charging infrastructure, and fostering collaborative partnerships can be advantageous strategies for Cambodia’s EV market development. Moreover, leveraging Cambodia’s unique strengths, such as its commitment to sustainability and environmental preservation, can further contribute to the success of the EV industry in the region.