Toyota is set to produce hybrid vehicles at its manufacturing plant in Phu Tho province, northern Vietnam, near Hanoi. Vietnam will become the fourth Asian country to manufacture Toyota’s hybrid cars outside Japan, following Thailand, Indonesia, and Malaysia.
The Vietnam Automobile Manufacturers Association (VAMA) reported that Vietnam recorded 9,785 hybrid car sales from January to September 2025, a 70% increase compared to the same period last year. Toyota dominates the domestic hybrid market.
However, hybrids account for less than 3% of new car sales in the country.
Toyota plans to invest approximately $360 million (around 9.4 trillion VND) in Vietnam to boost production capacity. The company will install three additional steel-forming presses, bringing the total to four. The painting process will be automated, and oil-based paints will be replaced with more environmentally friendly water-based products.
These investments are expected to be completed by 2027 or later. Annual production capacity will increase as the Vietnamese market grows, eventually reaching around 100,000 vehicles—double the current 47,000.
Keita Nakano, Chairman of Toyota Motor Vietnam, stated that new car sales in Vietnam could reach 1 million units annually by 2030. This would make Vietnam’s market larger than those of Thailand and Indonesia, where growth has slowed. In 2024, Vietnam’s new car sales totaled approximately 500,000 units, according to VAMA data combined with figures from electric vehicle manufacturer VinFast and Hyundai Motor.
VinFast is Vietnam’s rising automotive star, leading sales with 103,884 new vehicles sold in the first nine months of this year. Compact models are particularly popular.
The government plans to reduce taxes on hybrid vehicles by 30% compared to gasoline-powered cars. This will “lower hybrid car prices by about 10%,” said Nakano. However, strict conditions will apply, and not all hybrid models will qualify.
Toyota is adopting diverse approaches to power options, ranging from gasoline and hybrid to fuel-cell and electric vehicles. The company believes hybrids strike the right balance between affordability and environmental impact in Southeast Asia, where most electricity is still generated from fossil fuels.
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