Vietnam’s Plans for EV Charging Subsidies

HANOI (Reuters) – Vietnam is implementing subsidies for electricity prices at electric vehicle (EV) charging stations, aimed at boosting EV adoption and fulfilling energy transition commitments.

The subsidy scheme will be submitted for government approval by mid-September, as reported in a weekend statement.

Home to EV manufacturer VinFast (NASDAQ: VFS), Vietnam aims for carbon neutrality by 2050, aligning with commitments made by advanced economies.

Currently, the country boasts over 150,000 EV charging ports, predominantly managed by VinFast.

The government emphasized that the green energy transition is crucial for achieving green development goals and meeting international obligations.

In addition to subsidies, the government plans to introduce incentives for EV production and import, encouraging users to transition from combustion engine vehicles to EVs.

All urban areas will have public EV charging systems, with a unified set of technical standards for these stations expected by the end of the month.

Vietnam has also initiated policies to exempt registration fees and reduce special consumption taxes for new EVs.