Vietnam Electric Vehicle Market Research Report: Forecast (2026-2032)

By Vehicle Type (Passenger Cars, Commercial Vehicles, Light Trucks, Minivans, Electric Trucks Electric Bus, Two Wheelers, Three Wheelers), By Propulsion Type (Battery Electric Vehicle (BEV), Plug-in h... ... cle (BEV), Plug-in hybrid electric vehicles, Fuel-cell electric vehicles), By Charging Infrastructure (AC Charging, DC Fast Charging, Ultra-Fast / High-Power Charging), By Range (Less than 200 km, 200–400 km, Above 400 km), By Battery Type (Lithium-Ion Battery, Lithium Iron Phosphate (LFP), Nickel Manganese Cobalt (NMC), Solid-State Battery, Nickel Metal Hydride (NiMH)), and others Read more

  • Automotive
  • Jul 2026
  • 140
  • PDF, Excel, PPT

Vietnam Electric Vehicle Market Key Takeaways

  • The Vietnam electric vehicle market size was valued at around USD 3.12 billion in 2025 and is projected to grow from USD 3.71 billion in 2026 to USD 10.52 billion by 2032, exhibiting a CAGR of 18.95 % during 2026-2032.
  • By vehicle type, passenger electric vehicles are anticipated to hold approximately 82% of the market share in 2026.
  • By propulsion type, battery electric vehicles are projected to account for approximately 90% of the market share in 2026.  
  • The industry remains moderately consolidated, with the top five players collectively accounting for approximately 78% market share.

Vietnam Electric Vehicle Market Size and Outlook

The electric vehicle market size in Vietnam was valued at USD 3.12 billion in 2025 and is projected to grow from USD 3.71 billion in 2026 to USD 10.52 billion by 2032. Along with this, the market is estimated to grow at a CAGR of around 18.95% during the forecast period, i.e., 2026-32.

Vietnam EV industry outlook is closely intertwined with the country's accelerating digital retail economy, where instant delivery expectations are reshaping last-mile logistics fleets toward electrification. The Ministry of Industry and Trade projects B2C e-commerce expansion of 25.5% in 2025, pushing transaction value to USD 26-28 billion, a trajectory that intensifies pressure on delivery networks to adopt faster, lower-cost mobility solutions. This momentum carried into 2026, with combined revenue across Shopee, TikTok Shop, Lazada, and Tiki climbing nearly 47% year-on-year to USD 5.7 billion in the first quarter alone. As quick commerce platforms race to fulfil 30-minute delivery promises, electric two-wheelers and three-wheelers are becoming the preferred choice for logistics operators, directly widening the electric vehicle market's commercial mobility base alongside passenger adoption.

Reinforcing this trajectory, the Ministry approved Decision No. 1568/QĐ-BCT on June 3, 2026, endorsing the National Master Plan for E-Commerce Development for 2026-2030, which prioritizes fulfilment centres and logistics hubs capable of supporting instant commerce at scale, infrastructure that inherently favours electric delivery fleets over conventional vehicles. Simultaneously, national statistics point to a manufacturing base well positioned to support this shift: the manufacturing and processing sector expanded 12.6% in the first half of 2026, while electricity production and distribution rose 8.7% over the same period, according to the National Statistics Office.

Together, these factors suggest Vietnam's electric vehicle market will increasingly draw demand not only from private consumers but from a fast-digitizing retail and logistics ecosystem, positioning the sector for sustained, diversified growth through 2032.

Vietnam Electric Vehicle Market Key Indicators

  • The Government of Vietnam extended the 100% registration fee exemption for battery electric vehicles until February, 2027 through Decree No. 51/2025/ND-CP, issued in March 2025. The continued tax incentive reduces vehicle acquisition costs, encouraging faster EV adoption and supporting higher sales across Vietnam's electric vehicle market.
  • According to the General Statistics Office (GSO), Vietnam's Index of Industrial Production (IIP) increased by 8.4% during the first five months of 2025 compared with the same period in 2024. Higher industrial activity strengthens domestic automotive manufacturing and component production, improving the country's capacity to expand electric vehicle manufacturing.
  • Vietnam's GDP grew by 7.52% in the first half of 2025, according to the General Statistics Office (GSO). Rising economic growth enhances consumer purchasing power and business confidence, supporting greater demand for passenger and commercial electric vehicles.
  • The Ministry of Industry and Trade (MOIT) is implementing the National Power Development Plan VIII (PDP8) to expand electricity generation and transmission infrastructure across Vietnam. A stronger electricity network supports large-scale EV charging infrastructure deployment, improving charging accessibility and accelerating electric vehicle adoption.
  • VinFast delivered 175,099 electric vehicles in Vietnam during 2025, according to the company's filing with the U.S. Securities and Exchange Commission (SEC). Record domestic EV deliveries demonstrate increasing market acceptance, encouraging investments in charging networks, battery manufacturing, dealerships, and localized EV supply chains.

Vietnam Electric Vehicle Market Scope

 Category  Segments
By Vehicle Type Passenger Cars, Commercial Vehicles, Light Trucks, Minivans, Electric Trucks Electric Bus, Two Wheelers, Three Wheelers
By Propulsion Type Battery Electric Vehicle (BEV), Plug-in hybrid electric vehicles, Fuel-cell electric vehicles
By Charging Infrastructure AC Charging, DC Fast Charging, Ultra-Fast / High-Power Charging
By Range Less than 200 km, 200–400 km, Above 400 km
By Battery Type Lithium-Ion Battery, Lithium Iron Phosphate (LFP), Nickel Manganese Cobalt (NMC), Solid-State Battery, Nickel Metal Hydride (NiMH

Vietnam Electric Vehicle Market Growth Drivers

Expanding Domestic Battery Manufacturing and Supply Chain Localization, Accelerating Vietnam's Electric Vehicle Market Growth

Vietnam's electric vehicle industry is being driven by the rapid localization of battery manufacturing and supply chains, reducing dependence on imported components while improving production efficiency and cost competitiveness. Government policies supporting domestic EV manufacturing, coupled with increasing investments in battery materials and component production, are strengthening the country's position as a regional electric mobility hub. Localizing critical EV inputs also enhances supply chain resilience, shortens lead times, and enables manufacturers to scale production more efficiently. These developments are expected to attract additional investments across battery manufacturing, vehicle assembly, and supporting industries, reinforcing Vietnam's long-term EV growth trajectory.

A notable example is VinFast's December 2025 commencement of construction of its second manufacturing facility in Ha Tinh Province, designed with an annual production capacity of 300,000 electric vehicles. The plant will primarily manufacture compact EV models for both domestic and export markets, significantly expanding Vietnam's EV production capacity. The investment reflects manufacturers' growing focus on scaling localized production to meet rising demand while strengthening Vietnam's role in the regional electric vehicle value chain.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Vietnam Electric Vehicle Market Supply Chain Data Analysis 2022-2032
  5. Vietnam Electric Vehicle Market Import and Export Data Analysis 2022-2032
  6. Vietnam Electric Vehicle Production (Thousand Units) Trend 2022-2032
    1. 4.1. Vietnam Electric Vehicle Production (Thousand Units) Trend by Type of Vehicle
    2. 4.1.1. Passenger Cars
    3. 4.1.2. Commercial Vehicle
    4. 4.1.3. Two-Wheelers
    5. 4.1.4. Three-Wheelers
    6. 4.2. Company Wise Production Plants and Statistics
    7. 4.2.1. Installed Production Capacity
    8. 4.2.2. Actual Production
    9. 4.2.3. Planned Production Target
  7. Vietnam Electric Vehicle Market Policies, Regulations, and Product Standards
  8. Vietnam Electric Vehicle Market Trends & Developments
  9. Vietnam Electric Vehicle Market Dynamics
    1. Growth Factors
    2. Challenges
  10. Vietnam Electric Vehicle Market Hotspot & Opportunities
  11. Vietnam Electric Vehicle Market Outlook, 2022-2032
    1. Market Size & Outlook
      1. By Revenues (USD Million)
      2. By Unit Sold (Thousand Units)
    2. Market Segmentation & Outlook
      1. By Vehicle Type- Market Size & Forecast 2022-2032, USD Million & Thousand Units
        1. Passenger Cars
          1. Sedan
          2. Hatchback
          3. SUV
        2. Commercial Vehicles
          1. Light Commercial Vehicles
        3. Light Trucks
        4. Minivans
          1. Medium & Heavy Commercial Vehicles
        5. Electric Trucks Electric Bus
        6. Two Wheelers
          1. Scooters
          2. Motorcycles
          3. Moped
        7. Three Wheelers
          1. Passenger Carrier
          2. Load Carrier
      2. By Propulsion Type- Market Size & Forecast 2022-2032, USD Million & Thousand Units
        1. Battery Electric Vehicle (BEV)
        2. Plug-in hybrid electric vehicles
        3. Fuel-cell electric vehicles
      3. By Charging Infrastructure- Market Size & Forecast 2022-2032, USD Million & Thousand Units
        1. AC Charging
        2. DC Fast Charging
        3. Ultra-Fast / High-Power Charging
      4. By Range- Market Size & Forecast 2022-2032, USD Million & Thousand Units
        1. Less than 200 km
        2. 200–400 km
        3. Above 400 km
      5. By Battery Type- Market Size & Forecast 2022-2032, USD Million & Thousand Units
        1. Lithium-Ion Battery
        2. Lithium Iron Phosphate (LFP)
        3. Nickel Manganese Cobalt (NMC)
        4. Solid-State Battery
        5. Nickel Metal Hydride (NiMH)
      6. By Region- Market Size & Forecast 2022-2032, USD Million & Thousand Units
        1. Northern
        2. Central
        3. Southern
        4. Southeast
        5. Mekong Delta
      7. By Company
        1. Competition Characteristics
        2. Market Share & Analysis
  12. Vietnam Electric Passenger Cars Market Outlook, 2022-2032
    1. Market Size & Outlook
      1. By Revenues (USD Million)
      2. By Unit Sold (Thousand Units)
    2. Market Segmentation & Outlook
      1. By Propulsion Type- Market Size & Forecast 2022-2032, USD Million & Thousand Units
      2. By Charging Type- Market Size & Forecast 2022-2032, USD Million & Thousand Units
      3. By Range- Market Size & Forecast 2022-2032, USD Million & Thousand Units
      4. By Battery Type- Market Size & Forecast 2022-2032, USD Million & Thousand Units
      5. By Region- Market Size & Forecast 2022-2032, USD Million & Thousand Units
  13. Vietnam Electric Commercial Vehicles Market Outlook, 2022-2032
    1. Market Size & Outlook
      1. By Revenues (USD Million)
      2. By Unit Sold (Thousand Units)
    2. Market Segmentation & Outlook
      1. By Propulsion Type- Market Size & Forecast 2022-2032, USD Million & Thousand Units
      2. By Charging Type- Market Size & Forecast 2022-2032, USD Million & Thousand Units
      3. By Range- Market Size & Forecast 2022-2032, USD Million & Thousand Units
      4. By Battery Type- Market Size & Forecast 2022-2032, USD Million & Thousand Units
      5. By Region- Market Size & Forecast 2022-2032, USD Million & Thousand Units
  14. Vietnam Electric Two Wheelers Market Outlook, 2022-2032
    1. Market Size & Outlook
      1. By Revenues (USD Million)
      2. By Unit Sold (Thousand Units)
    2. Market Segmentation & Outlook
      1. By Propulsion Type- Market Size & Forecast 2022-2032, USD Million & Thousand Units
      2. By Charging Type- Market Size & Forecast 2022-2032, USD Million & Thousand Units
      3. By Range- Market Size & Forecast 2022-2032, USD Million & Thousand Units
      4. By Battery Type- Market Size & Forecast 2022-2032, USD Million & Thousand Units
      5. By Region- Market Size & Forecast 2022-2032, USD Million & Thousand Units
  15. Vietnam Electric Three Wheelers Market Outlook, 2022-2032
    1. Market Size & Outlook
      1. By Revenues (USD Million)
      2. By Unit Sold (Thousand Units)
    2. Market Segmentation & Outlook
      1. By Propulsion Type- Market Size & Forecast 2022-2032, USD Million & Thousand Units
      2. By Charging Type- Market Size & Forecast 2022-2032, USD Million & Thousand Units
      3. By Range- Market Size & Forecast 2022-2032, USD Million & Thousand Units
      4. By Battery Type- Market Size & Forecast 2022-2032, USD Million & Thousand Units
      5. By Region- Market Size & Forecast 2022-2032, USD Million & Thousand Units
  16. Vietnam Electric Vehicle Market Key Strategic Imperatives for Success & Growth
  17. Competitive Outlook
    1. Company Profiles
      1. VinFast Auto Ltd.
        1. Business Description
        2. Product Portfolio
        3. Collaborations & Alliances
        4. Recent Developments
        5. Financial Details
        6. Others
      2. Hyundai Thanh Cong Vietnam
        1. Business Description
        2. Product Portfolio
        3. Collaborations & Alliances
        4. Recent Developments
        5. Financial Details
        6. Others
      3. Toyota Motor Vietnam
        1. Business Description
        2. Product Portfolio
        3. Collaborations & Alliances
        4. Recent Developments
        5. Financial Details
        6. Others
      4. Kia Vietnam
        1. Business Description
        2. Product Portfolio
        3. Collaborations & Alliances
        4. Recent Developments
        5. Financial Details
        6. Others
      5. BYD Vietnam
        1. Business Description
        2. Product Portfolio
        3. Collaborations & Alliances
        4. Recent Developments
        5. Financial Details
        6. Others
      6. TMT Motors
        1. Business Description
        2. Product Portfolio
        3. Collaborations & Alliances
        4. Recent Developments
        5. Financial Details
        6. Others
      7. Mercedes-Benz Vietnam
        1. Business Description
        2. Product Portfolio
        3. Collaborations & Alliances
        4. Recent Developments
        5. Financial Details
        6. Others
      8. Tesla, Inc.
        1. Business Description
        2. Product Portfolio
        3. Collaborations & Alliances
        4. Recent Developments
        5. Financial Details
        6. Others
      9. Honda Vietnam
        1. Business Description
        2. Product Portfolio
        3. Collaborations & Alliances
        4. Recent Developments
        5. Financial Details
        6. Others
      10. Dat Bike
        1. Business Description
        2. Product Portfolio
        3. Collaborations & Alliances
        4. Recent Developments
        5. Financial Details
        6. Others
      11. Others
  18. Disclaimer


MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

Data Trangulation

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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