Electric vehicles now account for over 40% of all vehicle sales in Vietnam, marking the country as a global standout in the fast-evolving electric vehicle (EV) industry. The Vietnamese EV market has seen explosive growth, outpacing even major players like China and the European Union.

A recent report by Transport & Environment (T&E) on EV trends across Europe revealed surprising results when comparing battery electric vehicle (BEV) penetration in global car sales. In markets like Mexico and India, BEVs represent only about 5% of total car sales. Indonesia is closing in on European EV rates and is projected to surpass them by the end of the year.

The report also indicated that countries like the UK and Thailand are seeing significantly higher EV adoption rates than many EU nations, while China’s rate has already doubled that of Europe.

Vietnam, however, has emerged as a true outlier, with its electric vehicle market experiencing a sharp and sustained upward trajectory. Graphs indicate a dramatic spike in EV sales, signaling immense potential for expansion in the coming years.

Research shows that when including both electric cars and e-motorbikes, EVs now make up more than 40% of all new vehicle sales in Vietnam, placing the country among the global leaders and ahead of both China and Europe.

According to data from Motorcycles Data, 209,000 electric motorbikes were sold in Vietnam in the first half of 2025, a 99% increase compared to the same period last year. Vietnam now ranks third globally in electric motorbike sales, following only China and India.

A major contributor to this growth is VinFast, whose electric motorbike sales surged by 501%, maintaining its position as the dominant player in Vietnam’s rapidly growing EV sector. Chinese brand Yadea followed with a 37.5% increase, trailed by Dibao, Pega, and other competitors.

In the electric car segment, VinFast delivered 67,569 electric cars in the first six months of 2025, a year-on-year increase of nearly 46,000 vehicles. This accounts for approximately 30% of the market share, including deliveries to customers and dealerships.

A separate report from Mordor Intelligence projects that Vietnam’s EV market will reach approximately USD 2.93 billion in 2025 and is expected to grow to USD 6.69 billion by 2030. This corresponds to a compound annual growth rate (CAGR) of 18% during the 2025–2030 period.

Tam An