Auto & Transportation

According to the Vietnamese Ministry of Industry and Trade, at present, electric vehicles are not popular in Vietnam. In order to promote the production and use of various electrified vehicles, the Ministry of Industry and Trade is cooperating with the Ministry of Finance to study and advocate the revision of the Special Consumption Tax Law in the direction of tax incentives, aiming to encourage the development of electrified vehicles in Vietnam.

Statistics from the Vietnam Registration Authority show that the number of electrified vehicles (hybrid electric vehicles, plug-in hybrid electric vehicles, pure electric vehicles) in Vietnam is still relatively small, 140 in 2019, 900 in 2020, and by 2021 There were 600 vehicles in the first quarter.

However, the above-mentioned models are all imported vehicles and are basically hybrid electric vehicles. Plug-in hybrid electric vehicles and lithium electric vehicles account for a relatively small proportion. At present, apart from Vinfast Production and Operation Co., Ltd., no other company in Vietnam produces and assembles electrified vehicles.

All in all, at present, various electrified vehicles are not popular in Vietnam.

Therefore, in order to promote the production and use of electric vehicles in Vietnam, the Ministry of Industry and Trade of Vietnam is maintaining close cooperation with the Ministry of Finance, studying and proposing to amend the provisions of the Special Consumption Tax Law in the direction of adopting special consumption tax incentives within a certain period of time (5 years). Encourage the development of electric vehicles in Vietnam.