HANOI (Reuters) – Vietnam is planning to subsidise electricity prices for electric vehicle (EV) charging stations, as part of its efforts to promote the use of EVs and meet its energy transition commitments. These Vietnam EV subsidies aim to reduce operational costs for charging facilities. #VietnamEVSubsidies
The subsidy scheme is due to be submitted to the central government by mid-September for approval, the government said in a statement over the weekend.
The Southeast Asian country, home to EV maker VinFast, targets carbon neutrality by 2050. This goal aligns with commitments made by advanced economies.
The country currently has just over 150,000 EV charging ports, most of which are owned and operated by VinFast.
“Green energy transition is an essential and important task in the process of realising green development objectives and in fulfilling Vietnam’s international commitments,” the government said in the statement.
The government will work on incentives for EV production and imports. Additionally, they will encourage users to switch from internal combustion engine cars to EVs.
Vietnam will ensure all urban areas have public EV charging systems. Additionally, a unified set of technical standards for these stations will be issued by the end of this month.
The country earlier rolled out policies to exempt registration fees and cut special consumption tax for new EVs. #VietnamEVSubsidies
Additionally, the Vietnam EV subsidies are expected to accelerate the growth of green energy solutions. As a result, the country hopes to decrease its carbon footprint. This initiative supports Vietnam’s broader environmental goals by enhancing the accessibility and affordability of EV charging.
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