Jetcon Corporation is looking to revive its long-standing ambitions in the electric vehicle market, buoyed by a sharp turnaround in its business driven by strong demand for new Chinese vehicles.

After years of uneven performance and a difficult exit from the used car market, the company has returned to profit, with revenue nearly doubling to $941 million in 2025 from just over $520 million a year earlier. The recovery has been led by its BAIC line of vehicles, which has gained traction among local buyers and helped reposition the company’s core business.

With that momentum now building, Managing Director Andrew Jackson says the company is again turning its attention to electric vehicles — a segment that has been on its radar for several years.

“So we’re looking at electric cars in a way. In fact, we were looking at electric cars even before we started looking at BAIC. But, for some reason, the electric cars are not…or the market does not take the electric cars as was expected,” Jackson said during a recent investor briefing hosted by Mayberry Investments Limited.

The renewed interest marks a continuation of a strategy Jetcon has been developing for years. From as far back as 2022, the company had been expanding its EV inventory and lobbying for policy support, arguing that electric mobility represented a natural evolution of the auto industry.

At the same time, Jetcon has been building out a parallel business in solar energy — a move Jackson previously described as closely linked to the future of electric vehicles, given the role of renewable energy in powering EV adoption.

That combination is now shaping how the company is thinking about its next phase of growth.

But while Jetcon is positioning itself for the shift, Jackson acknowledged that the local market is still developing, with infrastructure and policy support lagging behind.

“You don’t have as many charging stations…the infrastructure hasn’t got all that,” he said, pointing to one of the main constraints holding back wider adoption.

“I think, in this part of the world, the incentives to go electric cars have just not been strong enough…if you look at the countries that have gone into electric cars in a big way, the Government has been a big part of it,” he added.

Even so, the company’s recent performance suggests it now has greater flexibility to explore new opportunities.

Jetcon’s shift into new vehicles, particularly Chinese brands, has not only stabilised revenues but also signalled a broader change in consumer behaviour, with buyers becoming more open to alternatives outside of traditional Japanese marques.

That shift, Jackson suggested, could eventually extend to electric vehicles as well, particularly as product quality improves and supporting infrastructure develops.

— Karena Bennett