The Ministry of Finance has proposed to extend the exemption of registration fees for electric vehicles (EVs) through February 28, 2027, beyond the current schedule.

Under the Government Decree No. 10/2022/ND-CP dated January 15, 2022, electric cars have a zero per cent registration fee until February 28, 2025. After that, the registration fee for electric cars will be equal to 50% of the fee for gasoline and diesel cars with the same number of seats.

The ministry said the registration fee exemption will contribute to developing the market, the EV industry and other auxiliary industries as well as generating jobs for workers.

Vietnam targets to increase the rate of EVs, hybrid and green vehicles to 18-22% by 2030, equivalent to 180,000 – 242,000 vehicles.