Vietnam to offer electricity subsidies for EV Charging Stations

As part of its efforts in promoting the use of electric vehicles (EVs) and meeting its energy transition obligations, Vietnam plans to subventionize electricity prices for charging stations for EVs.

In a weekend statement, the government announced that the subsidy scheme would be presented to the central government for approval by mid-September.

VinFast, the EV manufacturer in Southeast Asia, has set a goal of carbon neutrality for 2050. This is similar to what advanced economies have committed themselves to.

VinFast is the majority owner and operator of most of the country's EV charging stations, which number just under 150,000.

In a statement, the government stated that "green energy transition" is a vital and important task for achieving green development goals and fulfilling Vietnam's commitments to international agreements.

According to the statement, the government will also develop incentives to encourage EV production, imports and users to switch to EVs from cars with internal combustion engines.

In a statement, Vietnam said it will install public charging stations for electric vehicles in all urban areas. A set of unified technical standards is expected to be released by the end this month.

The country had earlier implemented policies to exempt new EVs from registration fees and reduce special consumption taxes. Reporting by Khanh Vu, Phuong Nguyen and Varun H K.

(source: Reuters)