Vietnam Electric Vehicle Industry Research Report 2023-2032

In 2022, more than 284,000 passenger cars will be sold in Vietnam, of which only a few thousand will be electric vehicles.

SAMPLE VIEW

The electric vehicle (EV) market in Vietnam is still in its infancy, but there is potential for significant growth. Vietnam's middle class is growing and living in urban areas, and with Evs meeting the criteria for smart cities, people are turning to green vehicles that help reduce environmental pollution.

Meanwhile, Vietnam has been considered a potential market for electric four-wheelers, as these vehicles offer an attractive advantage against the backdrop of rising gasoline prices and environmental concerns associated with gasoline vehicles. In addition, the government has been introducing incentives for the use of electric vehicles: from lowering taxes on electric imports to reducing a portion of registration fees for electric vehicle owners.

According to CRI, the sales volume of electric vehicles will reach US$ 462.76 thousand in 2032 and the CAGR in 2023 to 2032 is 50%.

Source:CRI

One of the biggest challenges Vietnam has to overcome in this area is the limited number of electric vehicle charging stations. Vietnam's electric vehicle company VinFast is investing in an extensive and secure charging station system, and there is huge room for growth in Vietnam's car market as infrastructure continues to improve. In addition, car ownership in Vietnam remains low, with 23 cars per 1,000 people, compared to one-tenth and one-twentieth in Thailand and Malaysia, respectively, according to CRI. Vietnam is a land of great potential with a population of nearly 100 million and an untapped market for electric vehicles. Meanwhile, according to CRI, electric vehicles are becoming a global trend, with revenues in the electric vehicle sector growing at a rate of 10% per year. According to CRI, the electric vehicle market is forecast to reach approximately $60 billion in revenue by 2025.

According to CRI, Vietnam will have one million electric vehicles by 2028, and that number will grow to 3.5 million by 2040. Although electric vehicles currently represent only a small portion of the country's passenger car market, they are expected to become more common in the future.

Topics covered:

• Vietnam Electric Vehicle Industry Overview

• The economic and policy environment of the electric vehicle industry in Vietnam

• What is the impact of COVID-19 on the electric vehicle industry in Vietnam?

• Vietnam Electric Vehicle Industry Market Size 2023-2032

• Analysis of major Vietnamese electric vehicle industry manufacturers

• Key Drivers and Market Opportunities in Vietnam's Electric Vehicle Industry

• What are the key drivers, challenges and opportunities for the electric vehicle industry in Vietnam during the forecast period 2023-2032?

• Which companies are the key players in the Vietnam Electric Vehicle industry market and what are their competitive advantages?

• What is the expected revenue of the Vietnam Electric Vehicle Industry market during the forecast period of 2023-2032?

• What are the strategies adopted by the key players in the market to increase their market share in the industry?

• Which segment of the Vietnam Electric Vehicle Industry market is expected to dominate the market by 2032?

• What are the main negative factors facing the electric vehicle industry in Vietnam?