Vietnam’s electric vehicle (EV) market is growing fast. In 2024, nearly 90,000 EVs were sold – 2.5 times more than in 2023. This surge is driven by rising fuel prices (around $6/gallon in 2025), government incentives, and increasing interest in cleaner transportation. Here’s what you need to know:
- Current EV Options: Local brand VinFast leads the market with popular models like the VF 3 (240–322 million VND) and VF 5 (468 million VND). International brands like Wuling, MG, and Mercedes-Benz also offer models ranging from affordable to luxury.
- Upcoming Models: VinFast plans to launch new models like the Minio Green and Limo Green by August 2025. International brands like Geely are also entering the market with electric SUVs.
- Government Support: EV buyers enjoy tax breaks, a 100% registration fee exemption until 2027, and reduced consumption taxes. Charging infrastructure is expanding, with major hubs planned in cities like Ho Chi Minh City and Hanoi.
- Why Buy EVs? Lower operating costs (up to 83% fuel savings), fewer maintenance needs, and long warranties make EVs appealing. However, charging infrastructure still needs improvement.
Vietnam aims for 50% of urban vehicles to be electric by 2030, with 1 million EVs on the road by 2028. The market is projected to grow from $2.93 billion in 2025 to $6.69 billion by 2030. For buyers, the shift to EVs offers long-term savings and a cleaner way to drive.
VinFast Muốn Bán Nhiều Xe, Nhưng khách Việt Cần Điều Này Trước Tiên ?
Electric Cars You Can Buy in Vietnam Today
Vietnam’s electric vehicle (EV) market has grown significantly, offering options from budget-friendly city cars to high-end luxury SUVs. Local brand VinFast leads the market, while international brands are carving out a niche in the premium segment.
VinFast Models Available Now
VinFast continues to dominate the local EV market, with 56,187 vehicles delivered so far this year, capturing a 30% market share in the first half of 2025.
- VF 3: Priced between 240–322 million VND, this entry-level model has been a hit, with 19,416 deliveries year-to-date, including 3,950 units sold in May.
- VF 5: Starting at 468 million VND, this compact SUV saw 18,752 deliveries in 2025, with 4,232 units sold in May alone.
- VF 6: Positioned in the mid-size SUV category, it costs 675–855 million VND and recorded 7,307 deliveries so far, including 1,393 in May.
- VF 7: A premium SUV priced between 850 million–1.199 billion VND, with 773 units sold in May.
- VF 8 and VF 9: These full-size SUVs are VinFast’s flagship models, priced at 1.106–1.492 billion VND and 1.589–2.314 billion VND respectively.
- VF e34: Available at 710–830 million VND, this model caters to buyers seeking a practical EV option.
- Specialized Models: VinFast has also introduced the Herio Green and Nerio Green, tailored for transportation services.
Other Brands Selling EVs in Vietnam
While VinFast dominates, international brands are expanding their presence in Vietnam, particularly in the premium and luxury segments.
- Wuling Mini EV: With a starting price of 197 million VND, this compact car is an affordable entry point into EVs.
- MG Models: The MG4 starts at 828 million VND, while the MG Cyberster, a sleek electric roadster, is priced at 3.2 billion VND.
- Mercedes-Benz: Offers a range of luxury EVs, including:
- EQB: 2.289 billion VND
- EQE SUV: 3.999 billion VND
- EQS SUV: 4.999 billion VND
- EQS Sedan: 5.009 billion VND
- Maybach EQS 680 SUV: 7.61 billion VND.
- Porsche Taycan: Prices range from 4.6 billion VND to over 9.5 billion VND, depending on configuration.
- Rolls-Royce Spectre: Positioned at the ultra-luxury end, priced at 18 billion VND.
Other global brands like BYD, Audi, and Tesla are also gaining traction in Vietnam’s luxury EV market.
Side-by-Side Comparison of Current Models
| Model | Price Range (VND) | Category | Key Positioning |
|---|---|---|---|
| Wuling Mini EV | 197–279 million | Compact City Car | Affordable option |
| VinFast VF 3 | 240–322 million | Compact City Car | Best-selling EV |
| VinFast VF 5 | From 468 million | Small SUV | Family-friendly choice |
| VinFast VF 6 | 675–855 million | Mid-size SUV | Mid-range option |
| MG4 | From 828 million | Compact SUV | International alternative |
| VinFast VF 7 | 850 million–1.199 billion | Large SUV | Premium offering |
| VinFast VF 8 | 1.106–1.492 billion | Full-size SUV | Flagship performance |
| VinFast VF 9 | 1.589–2.314 billion | Full-size SUV | High-end luxury |
| Mercedes EQB | 2.289 billion | Luxury SUV | German premium |
| MG Cyberster | 3.2 billion | Sports Car | Electric roadster |
VinFast’s VF 3 and VF 5 models stand out as popular choices among buyers, thanks to their competitive pricing and practicality.
New Electric Cars Coming to Vietnam
Vietnam’s electric vehicle (EV) market is set to grow significantly over the next 12–18 months. Both VinFast and international brands are gearing up to introduce new models that promise better technology, longer ranges, and competitive pricing. Below, we dive into the innovations shaping Vietnam’s EV future.
New VinFast Models in Development
VinFast is ramping up production at its Ha Tinh plant, which will have an initial capacity of 200,000 vehicles annually. This facility marks a major milestone in VinFast’s ambitious plan to produce 1 million vehicles per year.
"Once operational, the VinFast Ha Tinh factory will contribute to VinFast’s goal of producing 1 million vehicles per year to meet the increasing demand of domestic and foreign markets." – Nguyen Viet Quang, Vingroup’s CEO
In the pipeline are the Minio Green and Limo Green models, with deliveries starting in August 2025. The company is also introducing the EB 6, a compact electric bus designed for student transport, and has unveiled the VF Wild, a midsize electric pickup concept featuring a flexible cargo bed and high ground clearance.
International Brands Planning Vietnam Launch
Geely Auto made its entry into Vietnam in March 2025 with the Coolray SUV and is set to launch the Monjaro and EX5 electric SUVs by Q2 2025. The EX5, which has performed well in right-hand-drive markets, is expected to resonate strongly with Vietnamese consumers.
Geely is also partnering with Tasco Group to establish a new assembly plant in Thai Binh Province. Construction is slated to begin in 2025, with production expected to start by late 2026. This facility will have an initial capacity of 75,000 vehicles and will support the introduction of nine models, including internal combustion engine (ICE), plug-in hybrid, and battery-electric variants.
What to Expect from New EV Models
The upcoming EV launches will bring a host of technical advancements, further solidifying Vietnam’s transition to electric mobility. For instance, VinFast’s VF 8 and VF 9 models will come with larger battery packs, delivering EPA ranges of up to 264 and 330 miles, respectively. They will also support DC fast charging, enabling a charge from 10% to 70% in just 35 minutes.
These models are packed with smart features like remote climate control, battery monitoring, and charging location searches. In-car entertainment will also get a boost, thanks to the integration of Sony‘s Ride View platform. Additionally, VinFast offers an impressive 10-year/125,000-mile bumper-to-bumper warranty and an unlimited-mile battery warranty, ensuring peace of mind for EV buyers.
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Charging Stations and Government Support
As electric vehicle (EV) sales surge, the need for robust charging infrastructure and supportive government policies has become more pressing. Vietnam has made strides in both areas, but the rapid pace of EV adoption is outpacing infrastructure development, presenting new challenges.
Where to Charge Your EV in Vietnam
VinFast is leading the charge – literally – by establishing a vast network of 150,000 charging ports across all 63 provinces and cities in Vietnam. These stations are thoughtfully spaced about 65 kilometers apart and strategically positioned along highways, in residential areas, parking lots, office complexes, universities, shopping malls, and even petrol stations.
In Ho Chi Minh City, plans are underway to build 19 large charging hubs and 3,000 smaller charging or battery-swap stations. The city is also experimenting with solar power integration to promote sustainability and cut long-term energy costs.
Hanoi, too, is ramping up its charging infrastructure. By the first half of 2025, the capital had nearly 230 power purchase agreements for EV charging, covering 239 metering points with a combined capacity exceeding 78,000 kW. Most of these were private charging poles, but the city also installed five bus-specific charging stations. Additionally, Hanoi is focusing on rooftop solar solutions under a self-production, self-consumption model to alleviate grid pressure.
Dr. Lê Xuân Hồng from HCM City University of Transport summed up the situation well:
"Policy support alone is not enough. Without the infrastructure, the transition cannot move forward."
While the charging network continues to grow, government incentives are making EV ownership even more appealing.
Tax Breaks and Government Benefits for EVs
Vietnam offers a 100% exemption on registration fees for battery-powered EVs until 28 February 2027, saving buyers a substantial amount. For instance, purchasing a Wuling Hongguang MINI EV could save buyers approximately 9.85 million VND, while high-end models like the Rolls-Royce Spectre could save around 89.5 million VND.
The special consumption tax for EVs is also highly favorable. Electric cars with up to nine seats are taxed at just 3% until 28 February 2027, after which the rate will rise to 11%. In stark contrast, internal combustion engine vehicles in the same category face tax rates ranging from 35% to 150%, depending on engine size.
| Vehicle Type | Registration Fee Rate |
|---|---|
| Electric cars | 0% until Feb 2027; 50% of petrol/diesel car fee after Feb 2027 |
| Cars up to 9 seats | 10% |
| Pick-up trucks (under 950kg, up to 5 seats) | 60% of 9-seat car fee |
| Van trucks (under 950kg) | 60% of 9-seat car fee |
With such policies in place, the World Bank predicts over 160,000 EVs will be sold in Vietnam this year, climbing to nearly 1.3 million units by 2035. These incentives are clearly building confidence in the market.
Planned Improvements to Charging Network
To keep pace with demand, Vietnam will require nearly USD 14 billion to develop a comprehensive charging network over the next 15 years. The International Energy Agency estimates that between 100,000 and 350,000 charging stations will be needed.
Breaking it down further, Vietnam is expected to need USD 2.2 billion by 2030, USD 14 billion by 2040, and USD 33 billion by 2050 to establish public charging stations. The payoff? Transitioning to EVs could save the country up to USD 498 billion in oil imports by 2050.
The Vietnamese government is stepping up its support, extending beyond tax breaks. Plans include subsidizing electricity prices for EV charging stations and ensuring public EV charging systems are available in all urban areas. A standardized set of technical guidelines for charging stations is also on the horizon.
Both Ho Chi Minh City and Hanoi are taking active roles. Ho Chi Minh City is developing a citywide EV charging network, while Hanoi has formed an advisory group dedicated to expanding its charging infrastructure. A representative from the Public Transport Management Centre highlighted the importance of these investments:
"The investment in EV charging stations will give businesses more confidence to join the electric bus network and support the city’s wider transition to greener transport."
Still, balancing supply and demand remains a challenge. Nguyen Manh Thang, director of Whatcar Vietnam, explains:
"Investment in charging stations depends on demand. If people don’t see stations, they won’t buy EVs. And if demand isn’t visible, companies won’t invest in the infrastructure. But once EV adoption grows, investment in charging becomes inevitable."
With electric car sales reaching nearly 90,000 units in 2024 – a 2.5-fold increase from 2023 and over 11 times higher than 2022 – Vietnam’s charging infrastructure must expand quickly to keep up with this explosive growth.
What Vietnamese Buyers Need to Know About EVs
With supportive policies and a growing charging network, understanding the costs and practicalities of owning an electric vehicle (EV) in Vietnam is essential. Making the switch involves looking at the financial side, practical considerations, and how EVs perform in Vietnam’s unique conditions. Here’s what to keep in mind before deciding.
Real Costs of Owning an Electric Car
While EVs come with a higher upfront cost, the long-term savings are significant. For instance, Vietnamese EV owners save up to 83.51% on fuel costs compared to petrol-powered cars. The initial expense is largely due to battery technology, but the day-to-day running costs are much lower – about 25,000 VND per 100 km. Maintenance is also cheaper since EVs have up to 90% fewer moving parts than traditional combustion-engine vehicles.
Additionally, government incentives aimed at promoting EV adoption further enhance these savings.
Warranty and Service Support
Warranties are a key factor for many Vietnamese buyers, especially since EV technology is still relatively new. Companies like VinFast offer competitive packages, such as a 10-year/200,000-kilometre vehicle warranty and a 10-year unlimited mileage battery warranty (if the battery is purchased). For their VF5 model, the warranty covers 7 years or 140,000 km.
Extended warranties help reduce buyer hesitation. As Konrad Wessner from puls Marktforschung GmbH highlights:
"Our study shows that 67% of dealers believe that extended warranties help reduce uncertainty among potential car buyers. In addition, warranties also reduce uncertainty when purchasing electric cars (56%)…"
Most EV manufacturers guarantee their batteries for eight years, ensuring at least 70% capacity retention during that time. Although service networks are expanding, it’s wise to check for authorized service centers near you before making a purchase.
How EVs Handle Vietnam’s Roads and Climate
Modern EVs are designed to handle Vietnam’s tropical climate and varied road conditions. In southern Vietnam, where temperatures average around 30°C, the climate is generally favorable for EV battery performance. Many EVs also come equipped with waterproofing features, meeting IP65 or IP67 standards for protection against heavy rains.
However, high humidity can affect charging efficiency and slightly increase maintenance needs. While warm weather usually benefits batteries, extreme heat during the dry season may have a minor impact. Urban drivers can enjoy the benefits of instant torque and regenerative braking, but those in rural areas should plan ahead due to limited charging infrastructure. Even wind conditions can play a role – a headwind of 10 m/s can decrease highway range by approximately 19%.
These advancements ensure EVs are well-suited to Vietnam’s diverse driving environments.
Electric vs Petrol Cars: Which is Better?
Choosing between an electric or petrol car depends on your driving habits and priorities. Here’s a quick comparison:
| Criteria | Electric Cars | Petrol Cars |
|---|---|---|
| Purchase Price | Higher upfront cost | Lower initial investment |
| Operating Costs | Lower fuel and maintenance costs | Higher fuel and maintenance costs |
| Environmental Impact | No direct emissions | Emits pollutants |
| Convenience | Home charging available; trip planning needed | Quick refueling at widely available stations |
| Government Incentives | Incentives available | Regular fees and taxes |
| Maintenance | Fewer moving parts; simpler servicing | More complex engine maintenance |
Nguyen Tran Quan, a car showroom manager in Ho Chi Minh City, notes:
"In general, though, EVs are meeting customer preferences very well, particularly in the urban car category, with reasonable sizes and prices catering to most young consumers."
For city dwellers with predictable commutes, EVs offer major benefits, including home charging, lower running costs, and government incentives. However, for those who take frequent long trips or live in areas with limited charging infrastructure, petrol cars may still be the more convenient option.
Vietnam’s EV market is expected to grow at an annual rate of 17.51% from 2024 to 2032, with projections estimating the market value to reach 6.69 billion USD by 2030. This growth suggests that infrastructure and support services will continue improving, making EVs a practical option for more drivers over time.
When deciding, consider your daily driving habits, access to charging facilities, and long-term financial plans.
What’s Next for Electric Cars in Vietnam
Vietnam’s electric vehicle (EV) market is gearing up for remarkable growth in the coming decade. In 2025, the market is expected to be worth 2.93 billion USD, with projections showing it could climb to 7.41 billion USD by 2030, reflecting an impressive 18% annual growth rate. This signals a dynamic shift driven by government policies and heightened competition.
The Vietnamese government has set ambitious goals to accelerate this transition. By 2030, it aims for EVs to account for 50% of vehicles in urban areas, with 100% of urban taxis required to run on electricity or clean energy. These policies, coupled with consumer incentives, create a supportive environment for EV adoption and manufacturing.
Consumer interest is rising in response. Monthly first-time EV registrations have jumped from an average of 404 vehicles in 2022 to 6,648 in 2024. Projections indicate there could be about 1 million EVs on Vietnam’s roads by 2030, growing to 3.5 million by 2040. This growth reflects a significant shift in consumer behavior, spurred by both policy and market dynamics.
The competitive landscape is also heating up. In 2024, seven new Chinese automotive brands entered Vietnam, bringing the total number of Chinese brands to 13, compared to nine from Japan. This influx of competition has led to lower prices and better incentives for consumers. Local brand VinFast has seen its market share grow from 9.2% in 2023 to 21.3% in 2024, underscoring the impact of these market shifts.
However, infrastructure development remains a critical factor for sustained growth. According to the International Energy Agency, Vietnam will need between 100,000 and 350,000 charging stations over the next 15 years to support its growing EV population. Nguyen Manh Thang, Director of Whatcar Vietnam, highlights the importance of this investment:
"Investment in charging stations depends on demand. If people don’t see stations, they won’t buy EVs. And if demand isn’t visible, companies won’t invest in the infrastructure. But once EV adoption grows, investment in charging becomes inevitable."
As infrastructure expands, it will also open the door to new technologies. The integration of IoT, AI, and 5G is expected to enhance EV features, enabling real-time data processing and advanced driver assistance systems. These advancements will make EVs even more appealing to consumers.
The environmental benefits of EV adoption are another strong motivator. Transitioning to electric vehicles could cut greenhouse gas emissions by 5.3 million tons of CO2e by 2030 and by 226 million tons by 2050. This aligns with Vietnam’s commitment to achieving net-zero emissions by 2050.
Reflecting on these developments, Nguyen Tran Quan, Manager of a car showroom in Ho Chi Minh City, notes:
"If these challenges are addressed, Vietnam’s EV market will grow further. With a young, tech-savvy, and environmentally conscious population, electric vehicles are well-positioned to see double-digit growth in this 100-million-strong market."
Additionally, a report from KPMG reveals that around 70% of Vietnamese consumers are open to purchasing electric or hybrid vehicles, with strong interest among Gen Z and Millennials. Supported by government initiatives, improved infrastructure, competitive pricing, and increasing demand, Vietnam’s EV market is on track for continued expansion in the years to come.
FAQs
What are the key challenges in expanding electric vehicle charging infrastructure in Vietnam?
Expanding the EV charging infrastructure in Vietnam comes with its fair share of hurdles. A major challenge lies in the scarcity of a dependable and extensive charging network, which demands substantial investment and meticulous urban planning. This issue is particularly pronounced in rural areas, where facilities to support EV charging stations are often nonexistent.
Another obstacle is the heavy reliance on fossil fuels for electricity generation, sparking debates about how sustainable it truly is to power EVs under current conditions. On top of that, the high initial costs of setting up charging stations, coupled with the pressing need for thorough government incentives and supportive policies, add layers of complexity to the situation.
That said, advancements in renewable energy and strategic infrastructure planning are paving the way for a stronger EV ecosystem in the coming years.
How do government policies make electric vehicles more affordable in Vietnam?
The Vietnamese government has rolled out a range of incentives to make electric vehicles (EVs) more accessible and appealing to the public. One standout initiative is the waiver of registration fees for EVs, which will remain in effect until 2027. This move slashes the initial costs for buyers, making EVs a more budget-friendly option. On top of that, reduced taxes and other supportive policies further ease the financial burden, helping more Vietnamese consumers consider EVs as a practical choice. These efforts align with the country’s push toward cleaner transportation and minimizing environmental impact.
What new features can we expect in upcoming electric vehicles in Vietnam?
Upcoming electric vehicles (EVs) in Vietnam are gearing up to bring improvements that cater to the preferences and needs of local drivers. Many upcoming models promise driving ranges of up to 400 km per charge, easing concerns about frequent recharging. Plus, with advancements in charging technology, some EVs will be able to recharge in less than 30 minutes. On top of that, batteries are being designed to last longer, ensuring consistent performance over time.
These vehicles will also come equipped with driver-assistance systems (ADAS) and enhanced safety features, offering a safer and more convenient driving experience. And here’s the best part: prices are becoming more competitive. Some models are anticipated to start at just 240,000,000 VND, making EVs a more realistic option for many. By addressing key concerns like range, charging speed, and cost, these developments are set to encourage more drivers in Vietnam to embrace eco-friendly transportation.
