Developing electric vehicles is a "golden opportunity" that comes once every hundred years and a chance for Vietnam to rewrite the development scenario for the auto industry.

Vietnam’s electric vehicle index (EVI) has been announced for the first time, aiming to help enterprises in the value chain make decisions on production and business.

Experts believe that electrified vehicles will be a trend in the world’s automobile industry, including Vietnam.

Electric cars are an irreversible trend in the auto industry and are expected to grow strongly. To take advantage of this, the Vietnam Automobile Manufacturing Association (VAMA) has outlined plans to develop the local electric car industry.

Vietnam will have 1 million electrified vehicles by 2028 and 4.5 million electric cars by 2050 if it takes full advantage of the current golden opportunity.

The Ministry of Finance is collecting opinions on a draft decree amending and supplementing a number of articles of Decree 140 of the Government on registration fees.

Billionaire Pham Nhat Vuong’s Vingroup Corporation has announced it will contribute 51% capital, equivalent to 510 billion VND, to establish VINES Energy Solutions Joint Stock Company (VinES).

To develop electric vehicle industry, charging stations, batteries and reasonable prices are all needed. But an overall policy for these issues is not yet available in Vietnam, particularly battery waste disposal and treatment.

VinGroup's investment in the auto industry is a great challenge, coming from high aspirations and showing a sense of responsibility to the country.

Vietnam has the opportunity to manufacture electric cars more easily than other countries with already well-established auto industries because Vietnam has no auto industry that would need to to sacrificed, experts have said.

Vice Chairman of the National Traffic Safety Committee Khuat Viet Hung talks about proposals to the Government to promote green and environmentally friendly traffic in Vietnam.

Only when fast-charging batteries along with a nationwide system of charging stations will electric cars become popular in Vietnam.

On March 24, Vinfast made headlines after releasing its statement about receiving orders for its first electric car model VF e34 for VND690 million (about $32,000), to be delivered in the third quarter of 2021. 

Hybrid electric vehicles (HEV), which have maximum fuel economy, low emissions and smooth operation, are suited to Vietnam’s climate and transport conditions, experts say.

Prime Minister Nguyen Xuan Phuc has instructed the Ministry of Finance (MoF) to look at taxes and fees related to automobile manufacturing and assembly in order to help the sector grow.

 Volkswagen sold a record 10.8 million cars in 2018. Only 100,000 were electrified.

 Ford says it will boost its investment in electric vehicles to $11bn (£8bn) in the next five years, more than doubling a previous commitment.

 Volkswagen is stepping up its shift to electric cars and plans to invest more than 20 billion euros ($24 billion) in zero-emission vehicles by 2030 to challenge pioneer Tesla in creating a mass market.

 Britain will ban the sale of new petrol and diesel cars from 2040 in an attempt to reduce air pollution that could herald the end of over a century of reliance on the internal combustion engine.

 Electric cars will pick up critical momentum in 2017, many in the auto industry believe - just not in North America.