Vietnam could issue subsidies to promote EV takeup

In a move to promote electric cars, the Vietnamese government is looking to subsidise electricity for EV chargers. Apparently, there is also debate about incentives for EV production, imports and scrappage models.

According to a Reuters article, there are about 150,000 EV charging points in Vietnam, most of which are operated by the country’s EV manufacturer, Vinfast. Vinfast founder Pham Nhat Vuong set up a charging infrastructure company earlier this year. It is called V-Green and wants to set up charging networks in key markets. However, these will be “primarily for VinFast vehicles.”

The information about possibly subsidising electricity at the EV chargers comes from a statement from the Vietnamese government, Reuters reports. It says that Vietnam wants to have public EV chargers in all urban areas and that the government will issue a unified set of technical standards by the end of August.

“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 country is looking to become carbon neutral by 2050.

There are no details about the proposed subsidies and funding schemes yet. However, as per the report, government officials should approve them by mid-September.

reuters.com