Electric vehicles (EVs) now account for over 40% of all new car and motorbike sales in Vietnam, making the country one of the fastest-growing EV markets globally. Remarkably, Vietnam's EV adoption rate has surged past major markets such as China and the European Union, positioning it as a global standout.

A recent market analysis by the organization Transport & Environment (T&E) on EV adoption in Europe compared battery-electric vehicle (BEV) shares in global car sales. Surprisingly, EVs currently account for just around 5% of all vehicles sold in Mexico and India. Indonesia is rapidly catching up and is forecasted to surpass Europe’s EV adoption rate by the end of this year.

The report also highlighted that the United Kingdom and Thailand have significantly higher EV shares than most European nations, while China’s rate is already twice that of the EU.

In this context, Vietnam stands out as a phenomenon. The chart reveals a steep upward trend in Vietnam's EV adoption curve, reflecting the country's vast potential for growth in the electric mobility sector.

According to the research, when combining both electric cars and electric motorbikes, EVs now account for over 40% of all new vehicle sales in Vietnam. This places the country among the global leaders in EV adoption - well ahead of China and Europe.

Data from Motorcycles Data indicates that in the first half of 2025, Vietnam recorded approximately 209,000 electric motorbike sales, a 99% increase year-over-year. This figure ranks the country just behind China and India in global electric two-wheeler markets.

VinFast, Vietnam’s homegrown EV manufacturer, was a key driver of this growth. Its electric motorbike sales jumped by a staggering 501%, maintaining its lead in the rapidly expanding segment. Chinese brand Yadea followed with a 37.5% increase, with Dibao, Pega, and several others also contributing to market expansion.

In the electric car market, VinFast also led the charge. During the first six months of 2025, the company delivered 67,569 electric cars to customers and dealerships - an increase of nearly 46,000 units compared to the same period last year. VinFast now holds approximately 30% of Vietnam’s electric car market share.

According to data from Mordor Intelligence, Vietnam’s EV market is estimated to reach $2.93 billion in 2025 and is projected to grow to $6.69 billion by 2030. This corresponds to a compound annual growth rate (CAGR) of 18% between 2025 and 2030.

Tam An