Despite a later start than other regional countries such as Thailand, Indonesia and Malaysia, Vietnam has established itself as a formidable rival in the automobile market.

The Association of Southeast Asian Nations (ASEAN) is witnessing a rise in the sales of electric vehicles (EVs) in Vietnam, Malaysia and Indonesia, according to Maybank Investment Bank Research (Maybank IB Research).

Chinese electric vehicle (EV) maker BYD has chosen Vietnam as a key market for its development in Southeast Asia, Vo Minh Luc, CEO of BYD Auto Vietnam, has said.

Most of China's top 10 automobile manufacturers in Vietnam have ambitious business strategies.

Vietnam is highly committed to transforming towards green practices across various industries, including the car industry.

There is currently no national standard for emissions for electric and hybrid vehicles in Vietnam, which has hindered many manufacturers from producing or importing these vehicles.

Between 2026 and 2030, Hanoi aims for a mix of electric buses (50 per cent_ and buses powered by cleaner burning fuels like liquefied natural gas (LNG) or compressed natural gas (CNG) (50 per cent).

Developing charging stations for electric vehicles (EV) is an important part of the country’s scheme to promote the use of EVs in Vietnam to build a green transport system, according to insiders.

This chair of the Vietnam Clean Air Network, Hoang Duong Tung, has praised Hanoi’s plan to spend VND43 trillion to develop green buses.

The development of electric vehicles in the Vietnamese market has shown significant progress in recent years.

Besides VinFast's electric cars, foreign electric vehicle manufacturers have recently announced plans to introduce multiple models in Vietnam, with various price ranges.

More than 30% of Vietnamese consumers are interested in purchasing electric vehicles (EVs), according to a recent Deloitte’s global automotive consumer study.

Vietnam will need an estimated US$12.3 billion by 2040 to develop its electric vehicle (EV) infrastructure to keep up with a projected 2.5-fold increase in EV sales over the next decade, HSBC said in a recent report.

The potential for developing the electric motorbike market in Vietnam is significant.

Reuters has quoted its source from Phu Ha Industrial Zone(IZ) in Phu Tho province as reporting that BYD, the large automobile manufacturer from China, has postponed its plan to build an EV (electric vehicle) factory in Vietnam.

Vietnam aims to bring net greenhouse gas emissions to zero by 2050, so ideally all means of transport will use green energy. For the country, green transportation was also an urgent requirement to build green and smart cities, experts have said.

Vietnam is experiencing a strong shift towards electric vehicles (EVs).

The HCMC Department of Transport has just proposed the municipal People's Committee implement a pilot program to use four-wheeled electric vehicles for tourism in the city.

The Department of Transport of Hanoi has proposed to the municipal People's Committee to allow the pilot use of electric buses for passenger transport service in a 12-month period on nine existing bus routes whose contracts are set to expire in 2024.