The bright future of the Vietnamese automotive industry
- 101
- Business
- 11:54 25/04/2024
DNHN - In the future, the Vietnamese electric car industry will make a breakthrough to become one of the industries contributing to the country's sustainable development. Thus, the electric car industry will certainly develop strongly in the coming time.
According to a survey, in the Vietnamese market with a population of nearly 100 million people, the car ownership rate is low in the region, GDP is growing steadily, the middle class is increasing strongly, and the speed of technological development is fast, it will be one of the markets with a very large future for electric vehicle development. The Vietnam Automobile Manufacturers Association (VAMA) forecasts that Vietnam will reach one million electrified vehicles by 2028 and by 2040 the number of electric vehicles will reach 3.5 million.
One of the important factors helping the Vietnamese electric car industry to develop strongly is the strong support from the government. The policy of encouraging the use of electric cars and reducing initial investment has created a favourable environment for domestic car manufacturers. In addition, the government has also invested in clean infrastructure and clean technology, facilitating the movement of electric vehicles. As a result, the Vietnamese electric car industry has become one of the fastest-growing industries in the region.
Vietnamese car manufacturers have stepped up research and development of electric car technology. Electric car models “made in Vietnam” have appeared on the market and have been enthusiastically welcomed by consumers. These models not only meet international safety and quality standards but also have prices that are suitable for domestic consumers. This has boosted the development of the domestic electric car market and helped the Vietnamese automotive industry create a strong export market.
Another notable point is that large technology companies have also focused on the Vietnamese electric car industry. Leading global technology companies such as Google, Apple and Tesla have invested in electric car-related projects in Vietnam, from developing self-driving systems to building clean infrastructure for electric vehicles. The combination of technology and the automotive industry has created new opportunities and put the Vietnamese electric car industry among the pioneering countries in this field.
With the rapid development of the electric car industry, the Vietnamese automotive industry has created thousands of new jobs and made a significant contribution to the national economy. At the same time, the use of electric cars helps to reduce air pollution and reduce carbon emissions, contributing positively to environmental protection and improving air quality.
The future of the Vietnamese electric car industry is promising. Domestic car manufacturers will continue to invest in research and development of technology, from improving battery performance and extending the driving range per charge, to deploying fast charging systems and developing electric car-sharing services. In addition, the electric car industry will also create new business models, such as taxi services, electric car-sharing services and the production of electric car components to meet domestic demand and export to international markets.
The government will also continue to support and introduce incentive policies to promote the development of the electric car industry. Investing in clean infrastructure, facilitating the use of electric vehicles and promoting research and development of electric car technology will be top priorities. In addition, the government will also step up training and development of high-quality human resources for the electric car industry, from design engineers, and technicians to sales and service staff.
In the international market, the Vietnamese electric car industry will continue to expand and compete with international rivals. Thanks to technological breakthroughs and competitive production costs, electric car models “made in Vietnam” will have the opportunity to access the international market and meet the needs of global consumers.
The bright future of the Vietnamese electric car industry is approaching. With the promotion from the government, the commitment of car manufacturers and the positive response from consumers, the Vietnamese electric car industry will continue to become an industry that contributes greatly to the sustainable development of the country, bringing a bright future for the automotive industry and our living environment.
Nhan Ha
Related news
- Long An - Jeju Cooperation: Enhancing Local Friendship Ties
- Ministry of Finance: Corporate bond maturity volume in 2024 will decrease compared to last year
- Long An continues to push for Korean investment - Promoting comprehensive development collaboration
- Sunwah Group signed strategic partnership with Binh Duong province, Emphasising the strategic cooperative partnership between China and Vietnam
- National Assembly Chairman Vuong Dinh Hue received and worked with the Chairman of Sunwah Group (Hong Kong-China)
- Dr Vu Tien Loc: Unlocking the real estate market to boost the economy is a crucial solution
- Ba Ria - Vung Tau: 4 key areas of industry, seaports, tourism and high-quality services planned to attract investment
- Financial solutions for the global supply chain in Vietnam
- Viettel ranks second in global telecoms brand index
- Vietnam’s steel imports are estimated to exceed US$4 billion by the end of the first quarter of 2024
- Acting President Vo Thi Anh Xuan meets a delegation of the Vietnam Young Entrepreneurs Association
- State-owned enterprises to play a leading role in the economy
- Ensuring power supply - a key factor for FDI enterprises to invest in Vietnam
- South Korea to approve projects supporting Vietnam’s agricultural development
- Thanh Hoa Business Association: Seminar and Business Networking in Trieu Son District
- Binh Thanh Business Association organised March’s “Business Start-up and Management” Coffee Talk
- Vietnamese businesses dominate market share in Japan
- Important seafood industry groups exported to Australia
- Prime Minister encourages Australian companies to make investments in fresh growth drivers in Vietnam
- Foreign E-commerce businesses pay over 2,000 billion VND in tax in the first two months of the year
Đọc thêm Business
EMTEK company pioneers in digital transformation, prepares to go public on the Vietnam stock exchange
EMTEK is one of the MEP contractors involved in major national and international projects such as the Nghi Son Refinery, NS2 BOT Thermal Power Plant, Samsung Thai Nguyen, MRT Metro, HAGL Myanmar Center, etc.
Long An enhances innovation and attracts high-tech investment
On April 25, 2024, as part of a business trip to South Korea, the Long An provincial delegation visited, worked and surveyed the Jeju Free International City Development Center (JDC).
Vietnam's economic and manufacturing sectors continue to recover
Domestic production and business activities have shown positive signs and brighter prospects for the national economy. With important factors and achievements, our country has achieved economic recovery.
Green transition helps Vietnam’s textile industry increase its competitiveness in the international market
The transition to green production and business is a major trend. Accordingly, the Vietnamese textile industry is no exception, applying sustainable solutions and green transition will help increase its competitiveness in the international market.
Hai Phong ranks 2nd out of 63 provinces and cities in the PAR INDEX with 91.81%
According to the 2023 PAR INDEX ranking results, Hai Phong ranked 2nd out of 63 provinces and cities with a result of 91.81%.
Which Vietnamese company is pioneering the development of a coffee production area that complies with the EUDR?
The EUDR requirement is a strong warning that consumer markets take the environmental protection actions of the producing country very seriously.
Vietnam’s live-stream market witnesses a sharp increase
Figures from the Coc Coc platform show that around 77% of survey participants have watched a live-stream sale, of which 71% have purchased the live-stream session.
Tourism recovery brings Hanoi’s hotel segment back to its prime
According to experts, the recovery of tourism has boosted the hotel market. In addition, with the closure of low-quality supply, the market is considered to be in good shape.
Vietnam’s Marine Economy - Importance and Prospects for Growth
The marine economy plays a crucial role in the prosperous development of the country. With over 3,260 km of coastline, Vietnam possesses vast marine resources, including seafood, oil and gas, wind energy, marine tourism, and maritime transport.
The economy of Binh Duong grows positively and recovers strongly
In the first quarter of 2024, Binh Duong province’s socio-economic situation continued to have positive changes, gradually recovering well, with most indicators increasing compared to the same period in 2023.