Vietnam Proposes EV Tax Incentive Extension to 2030

Published: Apr 20, 2026 18:51

Save

Vietnam’s Ministry of Finance has proposed extending preferential special consumption tax rates for battery electric vehicles with fewer than 24 seats until the end of 2030, as part of efforts to accelerate the country’s shift away from fossil fuels and support its net-zero emissions target.

The ministry said the policy is intended to encourage the adoption of environmentally friendly transport. Currently, electric vehicles are taxed at 1–3%, significantly lower than the 10–150% applied to internal combustion engine vehicles. Under existing plans, EV tax rates are set to rise to 4–11% from March 2027.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

May 9, 2026 18:42

In April 2026, Chile's lithium carbonate exports were 29,500 mt, and lithium sulfate exports were 12,100 mt.

[Chile's Lithium Carbonate Exports Totaled 29,500 mt in April 2026, While Lithium Sulfate Exports Totaled 12,100 mt] According to Chilean customs export data, Chile's total lithium carbonate exports in April 2026 were 29,500 mt, up 3.40% MoM and up 35.63% YoY. Among them, exports to China were 22,956 mt, up 21.29% MoM and up 47.67% YoY; exports to South Korea were 3,489 mt, down 45.34% MoM but up 32.47% YoY; exports to Japan were 1,160 mt, down 10.74% MoM but up 48.05% YoY. In April 2026, Chile's total lithium sulfate exports were 12,100 mt, all exported to China, down 26.85% MoM but up 33.57% YoY.

May 9, 2026 18:42

May 9, 2026 11:18

[Lithium Battery: FSPG Technology Invests 300 Million Yuan To Increase Capital In Lithium Battery Separator Subsidiary]

On May 9, Foshan FSPG Technology Group Co., Ltd. issued an announcement stating that, based on strategic development planning and operational needs, it plans to use 300 million yuan of its own funds to increase the capital of its wholly-owned subsidiary, Hebei Jinli New Energy Technology Co., Ltd., to supplement its working capital. Jinli New Energy, as a leading enterprise in the domestic lithium battery separator industry, is the core entity for FSPG Technology's strategic layout in the lithium battery separator business, with its products widely used in both the energy storage battery and power battery fields. FSPG Technology stated that this capital increase will effectively supplement Jinli New Energy's working capital.

May 9, 2026 11:18

[Lithium Battery: Cangzhou Mingzhu Plans To Invest 3.38 Billion Yuan To Build South China Base]

On May 8, Cangzhou Mingzhu Plastic Co., Ltd. issued an announcement stating that it plans to invest in the construction of the Cangzhou Mingzhu South China Base project in Zengcheng District, Guangzhou City. This project has a total investment of approximately 3.38 billion yuan. The construction content includes the establishment of 8 new wet-process lithium battery separator production lines and 7 PE pipeline production lines, along with supporting production workshops, warehouses, office facilities, and auxiliary equipment for production, testing, environmental protection, and safety. It is designed to achieve an annual production capacity of 2.4 billion square meters of wet-process lithium-ion battery separators and 30,000 tons of PE pipelines.

May 9, 2026 11:18