Vietnam is set to introduce subsidies for electricity prices at electric vehicle (EV) charging stations as part of its broader strategy to encourage EV adoption and advance its energy transition goals. The subsidy plan is expected to be presented to the central government for approval by mid-September, according to a government statement released over the weekend.
As the home of EV manufacturer VinFast, Vietnam has pledged to achieve carbon neutrality by 2050, aligning with commitments made by developed nations. Vietnam currently has just over 150,000 EV charging ports, with the majority owned and operated by VinFast.
The government emphasized the importance of transitioning to green energy as a critical step towards achieving green development goals and meeting Vietnam’s international commitments. In addition to this, the government is planning to introduce incentives aimed at boosting EV production, encouraging imports, and motivating users to switch from traditional internal combustion engine vehicles to electric vehicles.
The government also announced plans to ensure that all urban areas are equipped with public EV charging systems. A unified set of technical standards for these charging stations is expected to be issued by the end of the month. Earlier, Vietnam implemented policies to exempt registration fees and reduce special consumption tax for new electric vehicles.
The government emphasized the importance of a green energy transition in achieving sustainable development and meeting Vietnam’s international obligations. In addition to the planned electricity subsidies, the government is working on further incentives to boost EV production, imports, and encourage the shift from internal combustion engine vehicles to EVs.
Vietnam aims to ensure that all urban areas are equipped with public EV charging infrastructure and plans to issue a unified set of technical standards for these stations by the end of the month. Previously, the government introduced policies that include registration fee exemptions and reductions in special consumption taxes for new EVs.
