Mile Green, an electric vehicle (EV) brand, has announced the formation of its Board of Directors.

The company is focused on expanding EV adoption in Southeast Asia, particularly Thailand, by offering electric vehicles, financing solutions, and infrastructure development to support corporate and consumer adoption in line with environmental, social, and governance (ESG) principles.

CMAG Funds commits US$ 50 million investment

CMAG Funds has committed an initial US$ 50 million investment to support Mile Green's expansion. The funding will be used to develop EV financing schemes and charging and battery-swapping infrastructure in Thailand and other regions.

A portion of the investment will be allocated to the development of two-wheeler EVs, with a focus on fast-charging and battery cabinet technology. The capital will also support Mile Green's partnerships with ESG-focused organisations.

"This investment reflects confidence in Mile Green's plans for EV adoption," said Ms Gigi Chan, an investor representative.

Mile Green is preparing to launch its business-to-consumer (B2C) operations in the second half of 2025, with the aim of increasing EV accessibility in the region.

Board of directors announced

Mile Green's newly appointed Board consists of professionals from the automotive, finance, investment, and technology sectors.

"Our Board is structured to support our long-term objectives," said Mr Maverick Hui, Founder and Chairman of Mile Green. "We are working to develop an EV ecosystem that aligns with market needs."

Expansion plans in Southeast Asia and Africa

Mile Green is planning to expand into Southeast Asia and Africa. The company intends to use the Belt and Road Initiative to introduce EV solutions to emerging markets.

As part of this expansion, Mile Green plans to:

- Invest in EV technology and infrastructure
- Support ESG-led energy transitions
- Provide financing options to encourage EV ownership
- Expand battery-swapping and charging networks

"Mile Green is focused on scaling EV adoption through strategic investment and technology development," said Mr Chatchaval Jiaravanon.

About Mile Green

Mile Green is an electric vehicle (EV) brand headquartered in Hong Kong and Thailand. The company is developing an EV ecosystem that integrates battery technology, battery-swapping systems, Web3 infrastructure, and fintech solutions.

Mile Green operates in Southeast Asia and Africa, focusing on EV adoption and infrastructure development.