EV market forecast to boom this year

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.

Sunday, March 17, 2024 19:41

The number of EVs increased from 138 units in 2019 to over 28,000 EVs and 3,557 hybrid vehicles in September 2023, al🌳ong 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 tꦫo the Vietnamese market.

According to representatives of the Vietnam Automobile Manufacturers Association, the transition to electrified and environmentally friendly vehicles is vital.

The Vietnamese Government has issued regula♐tions promoting the use of EVs to address declining air quaꦆlity and promote green economic development./.

VNA

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