How Myanmar Regime Chief’s Family Profits From the State’s EV Policy

Despite nationwide unrest, widespread power outages and economic collapse, Myanmar coup leader Min Aung Hlaing has consistently touted the potential of electric vehicles (EV) to transform the country into a “smart economy,” since first ordering his regime’s ministers to take steps to promote the sector in August 2022.

Soon after the EV promotion strategy was announced, a handful of regime associates including enterprises tied to the coup leader’s children, Aung Pyae Sone and Khin Thiri Thet Mon, were given permission to import and distribute EV vehicles from China, with tax exemptions granted for imported vehicles and parts.

Sources at the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) said the coup leader’s children have received the largest share of EV import permits from the regime, allowing them to monopolize the thriving market.

By imposing import bans and strict regulations on the daily use of combustion engine-powered vehicles, the regime is effectively forcing the public to switch to EVs.

Despite facing international sanctions, Aung Pyae Sone and Khin Thiri Thet Mon have become the biggest players in the country’s EV industry, importing the largest number of the vehicles and now assembling them in the country, according to industry sources.

The UMFCCI sources believe the two also have interests in the country’s second- and third-biggest automotive import companies as silent beneficiaries, or “sleeping partners.”

Business insiders provided the information despite what they described as strict warnings from the regime against disclosing the full extent of the family’s financial involvement in the sector.

EVs are just one of many state-promoted businesses sectors in which the junta boss’s family has invested, and from which it is profiting handsomely.

While aggressively promoting EVs through state media and nationwide toll exemptions, the regime hypocritically ignores the foreign currency drain caused by EV imports.

In stark contrast, citing post-coup currency shortages, the junta has severely restricted the import of conventional vehicles and essential goods including critical medicines. This double standard has triggered widespread shortages, skyrocketing prices and severe hardship for ordinary citizens.

Aung Pyae Sone: monopolizing BYD and crony-backed EV imports

Aung Pyae Sone, son of Myanmar junta boss Min Aung Hlaing, has interests in several state-owned projects.

Aung Pyae Sone, the junta boss’s son, reportedly dominates the market for Chinese EV brand BYD, of which he is an authorized importer. Industry insiders said he has interests in Prime Auto and Essential Motors—both authorized distributers of BYD EVs—as well as in other EV import companies.

The Irrawaddy emailed Prime Auto and Essential Motors, seeking comment regarding Aung Pyae Sone’s reported involvement in their enterprises, but neither responded.

The regime has granted permitted to Essential Motors to operate EV charging stations in the country. Essential Motor and another authorized BYD distributor, EV Power, also began assembling BYD EVs in Myanmar this year under the semi-knocked down (SKD) system.

During his visit to China in 2024, coup leader Min Aung Hlaing visited a BYD manufacturing facility in Shenzhen and met with company officials including the Myanmar country head under the company’s Asia-Pacific Auto Sales Division.