{"id":18707,"date":"2024-12-13T17:41:48","date_gmt":"2024-12-13T10:41:48","guid":{"rendered":"https:\/\/b-company.jp\/?p=18707"},"modified":"2024-12-13T17:41:48","modified_gmt":"2024-12-13T10:41:48","slug":"vietnam-electric-vehicle-ev-car-market-current-landscape-and-future-outlook","status":"publish","type":"post","link":"https:\/\/b-company.jp\/vi\/vietnam-electric-vehicle-ev-car-market-current-landscape-and-future-outlook\/","title":{"rendered":"Th\u1ecb tr\u01b0\u1eddng xe \u0111i\u1ec7n (EV) Vi\u1ec7t Nam: B\u1ed1i c\u1ea3nh hi\u1ec7n t\u1ea1i v\u00e0 tri\u1ec3n v\u1ecdng t\u01b0\u01a1ng lai"},"content":{"rendered":"
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*In this column “<\/em>Vietnam Briefing<\/em><\/a>“, young researchers from B&Company will provide timely information of Vietnam’s industrial trends, consumer trends, and social movements.<\/em><\/p>\n

Although we strive to ensure the accuracy of the original information, please check separately for each information. Interpretations and future prospects are the personal opinions of each researcher.<\/em> <\/p>\n<\/div>\n\t

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The EV car market in Vietnam is a rapidly evolving sector that has garnered increasing attention due to the growing demand for eco-friendly transportation solutions. As the government pushes for greener initiatives and urban consumers seek affordable, sustainable mobility, EV car have become an attractive alternative to traditional gasoline-powered vehicles.<\/p>\n

Market Size and Growth of EV car in Vietnam<\/strong><\/h3>\n

The EV car market in Vietnam has seen substantial growth in recent years. In 2023, the market size for electric vehicles in Vietnam was estimated at around 15,700 units sold (accounts for 6% of automobile sale in Vietnam)[1]<\/a> , with battery electric car contributing a significant share.<\/p>\n

The market is expected to grow at a compounded annual growth rate (CAGR) of approximately 17.51% in 2024-2032[2]<\/a>, driven by increasing consumer awareness, improved infrastructure, and governmental incentives.<\/p>\n

Key Players in the EV car in Vietnam<\/strong><\/h3>\n

The Vietnamese electric vehicle (EV) market is growing rapidly, with VinFast leading the charge as the dominant domestic player. In 2023, VinFast became a 100% electric vehicle company as they stop selling gasoline models. The company now holds over 50% of the domestic EV market share (Including both 2-wheels and 4-wheels vehicles) \u00a0and is expanding internationally, with initial success in the U.S. market.<\/p>\n

International automakers, including those from Korea, Germany, and China, are increasingly entering Vietnam’s electric vehicle (EV) market. Brands such as KIA, Audi, Hyundai, and Lexus have launched models like the EV6, e-tron T, IONIQ 5, and LF-Z. The Vietnam Motor Show 2022 marked a significant milestone by showcasing several electric car models for the first time, such as the Mercedes EQS and Toyota bZ4X.<\/p>\n

Generally, EVs are more expensive than gasoline-powered cars due to the high cost of battery technology, which is the most expensive component. However, prices are expected to decrease in the coming years. Manufacturers are focusing on producing more affordable models, and advancements in battery technology are anticipated to play a key role in reducing costs, making EVs more accessible to a broader consumer base in the future.<\/p>\n

In addition to conventional automobiles, the mini electric car segment has also made its debut in the market. In July 2023, TMT Motors Joint Stock Company officially launched and organized a test drive event for the Chinese brand Wuling HongGuang Mini EV model with the price range is about 239 million VND \u2013 279 million VND . Following this, in 2024, VinFast also introduced its VF3 model to the market with a selling price between 230 million VND \u2013 322 million VND). The entry of companies like VinFast into the mini car market signals growing interest in this segment. VinFast’s introduction of a super-small two-seater model reflects the increasing diversity in the automotive landscape. The mini car segment, though still small, is poised for substantial growth due to factors such as cost-effectiveness, urban practicality, electrification trends, and supportive government policies, all contributing to the expected expansion of this market in Vietnam.<\/p>\n

\"Electric\"Electric<\/p>\n

Source: Vneconomy Automotive, Vnexpress<\/p>\n

Market Trends in the EV car in Vietnam<\/strong><\/h3>\n