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

Common.Time.hoursAgo

BEV Registrations Surge 51% Across Europe in March Amid Geopolitical Tensions

Battery electric vehicle (BEV) registrations jumped 51% in March across 15 major European markets, as renewed conflict in the Middle East brought renewed attention to oil dependence. According to data from New Automotive and E-Mobility Europe, around 224,000 new electric passenger cars were registered during the month, representing 22% of total sales in the monitored markets.

Common.Time.hoursAgo

[SMM Analysis] March 2026 NCM Exports Reach All-Time High

In March 2026, China's ternary cathode material exports (NCM and NCA combined) reached 21,900 metric tons, representing a 103% MoM increase and a 163% YoY increase.

Common.Time.hoursAgo

[China March LiOH imports 6,111 t, exports 3,143 t: imports > exports]

According to customs data, in March 2026, China imported 6,835 tonnes of lithium hydroxide, up 66% month-on-month and three times the year-ago level. Among this, 2,927 tonnes came from Indonesia, accounting for about 48% of total imports, with another 40% from Australia and South Korea. In March, China exported 3,143 tonnes of lithium hydroxide, up 20% month-on-month but down 26% year-on-year, of which 2,059 tonnes were shipped to South Korea and 278 tonnes to Japan.

Common.Time.hoursAgo