According to the Ministry of Construction, EV sales have grown exponentially, rising from 8,000 units in 2022 to 37,800 in 2023. In 2024, sales reached nearly 90,000 units, 2.5 times higher than the previous year.

VinFast leads the domestic market, delivering over 87,000 EVs in just three years, with more than 12,500 units sold in February alone.

The market is becoming increasingly vibrant, with the entry of numerous international brands like Mercedes-Benz, Audi, Volkswagen, and Porsche introduce EV models, alongside Chinese manufacturers such as BYD and Wuling.

However, infrastructure challenges remain, particularly the lack of a widespread charging network and high vehicle costs. Vietnam also depends heavily on imported components, driving up production costs. Experts emphasise that investment in domestic manufacturing and charging infrastructure is essential for sustainable growth.

With strong policies and investments, Vietnam aims to position itself as a key player in the global EV industry, aligning with its goal of net-zero emissions by 2050.

Chinese electric vehicles drive back into Vietnamese market

Chinese electric cars are returning Vietnam under a strategy to enter the market as affordable vehicles built with the latest in technology.