The Ministry of Finance has proposed that registration fees for electric vehicles should be half those for gasoline vehicles with the same number of seats to boost the consumption of environmentally friendly cars.

Two new subsidiaries under the Vietnamese conglomerate VinGroup – the VinES Energy Solutions JSC (VinES) and VinAI Artificial Intelligence Application and Research JSC (VinAI) – have been established with charter capital of VND1,000 billion (US$43.68 million) and VND425 billion, respectively.

Automobile sales in Vietnam plunged in July due to the complications of COVID-19 and social distancing measures being applied in many localities nationwide.

The Ministry of Industry and Trade has just released a list of factors that are undermining the development of the electric car industry in Vietnam.

VOV.VN - Vingroup, Vietnam’s largest conglomerate, unveiled on July 27 that it has appointed Michael Lohscheller, former vice president of Volkswagen USA and Opel CEO, as the latest CEO of its automotive division VinFast Global.

VOV.VN - Vinfast Trading and Service Limited Liability Company has officially put its subsidiaries in the United States, Canada, France, Germany, and the Netherlands into operation as they prepare for the launch of their latest models in these markets.

The Ministry of Trade and Industry (MoIT) has said it is cooperating with the Ministry of Finance to consider the provision of tax incentives to encourage the development and use of electric vehicles in Vietnam.

Phongsubthavy Group of Laos would be an exclusive distributor of Vietnamese car maker VinFast under a memorandum of understanding signed on June 28.

Car sales have dropped sharply because of the fourth COVID-19 outbreak, prompting dealers to offer big discounts.

Despite the impact of the COVID-19 pandemic, Vietnamese auto-maker VinFast Trading and Production LLC still enjoyed a month-on-month increase of 5% in sales in May, to 2,855 vehicles.