Vietnam is experiencing a strong shift towards electric vehicles (EVs). The supportive and preferential policies implemented by the Government, such as the exemption of registration fees and reduction in special consumption tax for EVs, have played a significant role in promoting the adoption of this type of vehicle in the country.
Hanoi (VNA) - Vietnam is experienci🌞ng a strong shift towards electric vehicles (EVs). The supportive and preferential policies implemented by the Government, such as the exemption of registration fees and reduction in special consumption tax for EVs, have played a significant role in promoting the adoption of this type of vehicle in the country.
The number of EVs increased from 138 units in 2019 to over 28,000 EVs and 3,557 hybrid vehicles in September 2023, along with more than 2 million electric motorbikes.
The forecast for the domestic electric vehicle market to make a leap from 2024 is encouraging. With the participation of both domestic and foreign automobile manufacturers, the market is expected to expand further. VinFast, along with other automobile companies operating in the country, is gradually transitioning to electric vehicles and "green" energy-powered vehicles.
Many foreign car makers have already introduced hybrid car models to the Vietnamese market. Brands like Honda, Kia, Hyundai, BMW and Toyota have brought hybrid options such as the Honda CR-V, Kia Sorento, Hyundai Santa Fe, BMW XM, Toyota Yaris Cross, Corolla Altis and Innova Cross to the market. This diverse range of hybrid models provides consumers with more choice and contributes to the overall growth of the electric vehicle market in Vietnam.
Chinese car manufacturers are also looking to re-enter the Vietnamese market by introducing new electric and hybrid car models. These manufacturers have committed to a long-term development roadmap, including investing in manufacturing and assembly plants in the country through strategic partnerships.
The Vietnamese Government has issued regulations promoting the use of EVs to address declining air quality and promote green economic development. However, challenges such as incomplete awareness of businesses about green energy conversion, lack of charging station infrastructure, and insufficient mechanisms to encourage consumption and use of electric vehicles still exist.
According to representatives of the Vietnam Automobile Manufacturers Association (VAMA), the transition to electrified and environmentally friendly vehicles is vital. Price remains a significant factor, with electric cars generally being more expensive due to the high cost of batteries. VAMA suggests that the transition to electric vehicles should be approached in a balanced manner to avoid disrupting the market./.
With the commencement of the electric vehicle (EV) era, a large number of charging stations are likely to be installed in the time to come, forming a new and promising business sector.
Vietnamese automotive manufacturer, VinFast, has officially launched its first right-hand drive electric vehicles for the Indonesian market at the Indonesia International Motor Show (IIMS) 2024.
Vietnamese electric vehicle (EV) maker VinFast said on February 21 that it will break ground for its integrated electric vehicle (EV) manufacturing site in Thoothukudi city, India’s Tamil Nadu state, on February 25.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
VinFast's electric vehicles (Photo: VinFast)
