Rising oil prices could help speed climate action by accelerating the shift to electric vehicles, but in Vietnam that would depend much on the infrastructure.

After VinFast initiated its ‘blockbuster’ strategy on developing electric cars, a number of automobile manufacturers have imported electric cars to sell in the domestic market.

In Vietnam, the Government and National Assembly have issued preferential policies for electric vehicles.

VinFast billionaire Pham Nhat Vuong, Vingroup Chairman, plans to invest $6 billion in an electric vehicle factory in the US. 

A number of electric car manufacturers in Vietnam plan to launch electric vehicle models accompanied by preferential policies for users this year. Experts predict that 2022 will see a boom in the Vietnamese electric car market.

Vietnam’s plan to slash luxury tax and registration fees for electric cars is expected to push the development of the domestic electric vehicle market, which is currently at the starting line.

Three years of free registration fees shall be applied to electric cars purchased or acquired from March 1, 2022.

Vietnam’s electric automobile industry has started and many enterprises want to join the automobile production chain as they can see great opportunities.

Artemis DNA has become the first US firm to place an order to purchase 100 electric cars of VinFast following the Vietnamese automaker’s new model debut at the technology exhibition CES 2022 in Las Vegas (USA).