The Government of Vietnam has announced plans to invest around USD13.9 billion in developing a nationwide electric vehicle (EV) charging infrastructure by 2040. The country seeks to reduce greenhouse gas emissions and cut down on oil imports, with savings of up to USD498 billion. The report stresses that a well-established EV charging network is key to encouraging EV adoption.
The investment will be phased, with an initial USD2.2 billion required by 2030, ramping up to USD32.6 billion by 2050. The strategy includes a focus on high-income households and premium residential areas in the early years, expanding to suburban and rural regions by 2030, and preparing for mass EV adoption by 2035. As part of this effort, companies like VinFast are playing a key role in building charging infrastructure, supported by policies to incentivise private investment in the sector.