Vietnam to offer electric vehicle charging incentives

By AJU PRESS Posted : August 13, 2024, 14:19 Updated : August 13, 2024, 14:30
An electric vehicle is charged at a parking lot in Seoul, on May 9, 2024. Yonhap
SEOUL, August 13 (AJU PRESS) - The Vietnamese government is set to introduce electricity subsidies for electric vehicle (EV) charging stations, aiming to boost adoption and meet its energy transition goals, Reuters reported. This initiative, part of Vietnam's commitment to carbon neutrality by 2050, is scheduled for submission to central authorities by mid-September.

Currently, the Southeast Asian nation hosts over 150,000 EV charging ports, with VinFast, a domestic EV manufacturer, owning the majority. The government emphasizes that green energy transition is crucial for achieving sustainable development objectives and fulfilling international pledges.

In addition to charging subsidies, Vietnam plans to offer incentives for EV production, imports, and to encourage consumers to switch from traditional combustion engines. The country aims to equip all urban areas with public charging infrastructure and will soon release unified technical standards for these facilities.

Previous measures to promote EV adoption include exemptions from registration fees and reductions in special consumption taxes for new electric vehicles. These efforts align with Vietnam's broader strategy to accelerate its transition to cleaner energy sources and support the growth of its emerging EV industry.

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