Vietnam plans electricity subsidies for EV charging stations: Report

Vietnam is looking to offer subsidies on electricity prices for EV charging stations, as it aims to ramp up efforts to further the use of EVs to meet energy transition commitments, Reuters reported. 

The government said in a statement at the weekend that the subsidy scheme would be submitted to the central government for approval next month. 

Vietnam, home to VinFast, is aiming for carbon neutrality by 2050, similar to the commitment made by advanced economies, Reuters reported. 

At the moment, Vietnam has a little more than 150,000 charging ports, a majority of which are controlled and operated by VinFast, the newswire noted. 

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, Reuters noted. 

Prior to this, Vietnam had rolled out policies to exempt registration fees and reduce special consumption tax for new electric vehicles, the newswire noted.