HIDS Seeks Input From Businesses on Incentives to Encourage Adoption of Electric Vehicles in Ho Chi Minh City
On August 10, the Ho Chi Minh City Institute for Development Studies (HIDS) announced that it is gathering input from businesses on incentives to encourage the transition to electric vehicles. This move comes after the city’s appeal to promote the use of electric vehicles and reduce carbon emissions.
In a document sent to businesses and investors in the electric vehicle ecosystem, HIDS called on stakeholders, including vehicle manufacturers, charging infrastructure developers, ride-hailing platforms, financial institutions, and transportation service providers, to propose incentives for users and drivers to adopt electric vehicles. This is in line with the government and city’s initiatives to promote sustainable and environmentally friendly transportation solutions.
Ho Chi Minh City residents exchanging their gasoline-powered bikes for electric ones at a recent event. Photo: Phuong Ngan
The list of companies asked to propose incentives includes prominent names such as Vingroup, VinFast, Grab, Be Group, Xanh SM, Moto Selex, DatBike, Yadea, and Honda Vietnam.
HIDS has received an encouraging response, with many businesses submitting their incentive schemes for users and drivers transitioning to electric vehicles. The institute is currently consolidating the proposals to advise the Ho Chi Minh City People’s Committee on the development of comprehensive policies to support this initiative.
What incentives are on offer for residents and drivers making the switch?
The proposed incentives cover seven key areas, including discounts on vehicle prices, special accessory packages, and trade-in programs. Businesses are also offering attractive financing options with simplified procedures and investing in charging infrastructure and diversified product and service offerings.
Additionally, there is a focus on carbon credit systems and methods to measure, monitor, and report greenhouse gas emissions from transportation activities. Companies are also committed to sharing data to support management, monitoring, and evaluation of emission reduction efforts.
“The proposals and commitments from businesses and investors are crucial in ensuring the feasibility of developing comprehensive policies,” said a representative from HIDS. “They create a harmonious balance between the interests of the government, businesses, and consumers, fostering a successful public-private partnership.”
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