What is the Future of Hybrid and Electric Vehicles in Vietnam

The future demand for hybrid and electric vehicles is promising for Vietnam as climate change is a pressing issue in frontier countries like Vietnam.

Climate change in Vietnam can lead to a severe situation, in coming decades, Vietnam will be one of the most affected countries in Asia by global warming. Negative effects from global warming include higher sea level rise, displacement of communities and villages, floods and other natural hazards. Climate change will also have a severe impact on the country’s economy with higher unemployment and recession.

Related: What to know about Vietnam’s New Online Car Marketplace

The Vietnam Government aims to reduce CO2 emissions by 2030 to combat against climate change. Carbon emissions from vehicles that consume petrol are one of the main causes of climate change in Vietnam, especially in busy and industrial cities like Ho Chi Minh and Hanoi. In order to reduce traffic congestion, the Vietnam has started to implement city taxes on two-wheelers, with the objective of ultimately phasing out two-wheelers in city areas by 2030.

The adoption of electric vehicles and hybrid cars by Vietnamese consumers will also have a positive impact to fight against climate change. Although Vietnam does have an explicit policy or financial incentives in place for electric vehicle adoption, the Government has proposed preferential tax programs for environmentally friendly vehicles that run on electricity, are hybrid (run on gas and battery), bio-fuel powered vehicles, and vehicles that run on compressed natural gas (CNG).

Furthermore, the Ministry of Transport of Vietnam is working with the relevant government authorities on implementing strategies for developing environmentally friendly transport including preferential policies for electric automobiles, batteries, and parts.

These policies set by the Government and private companies are all steps towards the right direction. However, the largest barrier for purchasing hybrid and electric vehicles in Vietnam is the high cost of importing the vehicles and the limited access to specialist mechanics and parts for maintaining and servicing hybrid and electric vehicles.

This leaves a significantly large opportunity and market-gap for car dealerships and mechanics to specialise in importing, selling and servicing hybrids and electric vehicles. Vietnam’s new and leading online car marketplace.

Also read: The Booming Luxury Online Car Market in Vietnam

VietWheels welcomes more electric vehicles and hybrid cars in Vietnam and works with a number of exclusive car dealerships that offer high-quality hybrid and electric cars. VietWheels encourages local consumers to consider hybrid or electric cars by visiting their website.

We hope that this article has helped you pick the right luxury car for you. VietWheels is a leading online car portal in Vietnam where car buyers benefit from greater choice, convenience and cost saving. Car sellers benefit from higher sales, turnover and cost efficiency in running their businesses.

VietWheels’s vision is to help everyday consumers in Vietnam get a step closer to purchasing their dream car.

This article is brought to you by Vietwheels.com a leading online marketplace to buy and sell vehicles in Vietnam.