Vietnam wants to increase efforts to promote the use of EVs in order to fulfill its commitments regarding the energy transition. To that end, it is aiming to provide subsidies on power rates for EV charging stations.
In a statement released over the weekend, the government announced that the subsidy plan would be brought before the federal government for approval the following month.
VinFast’s home country of Vietnam is striving for carbon neutrality by 2050, much like industrialized economies.
There are currently a little over 150,000 charging ports in Vietnam, most of which are managed and run by VinFast.
The government in a statement noted that it will work on incentives for EV production and imports, and augment the transition from ICE to EVs. It further added that the country would ensure that all urban areas have public EV charging systems, noting that a unified set of technical standards for the stations would be issued by the end of August.
Prior to this, Vietnam had rolled out policies to exempt registration fees and reduce special consumption tax for new electric vehicles.