According to reports, electric cars accounted for 10% of total car sales in Q1 2024. This figure surpasses the 8% of 2023 and the 2.2% of 2022, showing a significant growth trend in electric vehicle (EV) sales in Vietnam. This reflects the increasing demand for electric cars among Vietnamese consumers.
Key Drivers Behind the Growth of EVs in Vietnam
Government Policies:
- Incentives such as waiving registration fees for EVs until the end of 2025, significantly reducing the cost of ownership.
- Support for infrastructure development and encouragement for businesses in the EV sector.
Charging Infrastructure:
- Over 150,000 charging ports across 63 provinces and cities, ensuring high accessibility.
- Urban charging stations are spaced an average of 3.5 km apart, offering convenience for users.
- Comprehensive charging infrastructure installed along 125 national highways supports intercity travel and long-distance trips.
Automaker Incentives:
- Attractive pricing, financial assistance, and appealing after-sales programs.
- Long-term warranties, 24/7 roadside assistance, and convenient mobile charging services.
Initially, Vietnamese consumers expressed concerns about EV costs, charging convenience, and software-related issues. However, these worries are being alleviated thanks to the above factors. Lower operating costs, long-term maintenance benefits, and the convenience of a growing charging infrastructure are reducing financial pressures. Moreover, young consumers, especially Zillennials (Millennials and Gen Z), increasingly favor sustainable solutions and a modern lifestyle, driving the demand for EVs and supporting the green transition.
A Promising Future for EV Adoption in Vietnam
With continued government support, robust infrastructure growth, and evolving consumer habits, electric vehicles are poised to take a larger share of Vietnam’s automotive market. The shift from gasoline to electric vehicles is expected to gain momentum, making EVs a familiar and accessible mode of transportation for Vietnamese people in the years to come.
Source: Cong Thuong Newspaper
EBOOST operates over 200 charging stations nationwide, accommodating all types of EVs, from cars to motorbikes. These stations ensure convenience and peace of mind for users on every journey. Strategically located at shopping centers, residential areas, and major highways, EBOOST stations make access easier than ever.
Contact us today for consultation on installing charging stations and get ready for the future of green transitions with eco-friendly electric vehicles.
Hotline: 0868 108 011
