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From next March, buyers of battery-powered electric vehicles will have to pay a registration fee of about 5-6% depending on the province or city where the vehicle is registered, instead of being completely exempted as before.
Starting from March 1, battery-powered electric cars registered for the first time in Vietnam will no longer enjoy the 0% registration fee as before, but will have to pay 50% of the fee for internal combustion engine cars with the same number of seats.
This is a regulation according to Decree No. 10/2022/ND-CP of the Government issued on January 15, 2022, regulating registration fees, effective from March 1, 2022; which stipulates that the preferential registration fee for the first registration of battery-powered electric cars is 0% within 3 years (from March 1, 2022 to February 28, 2025).
From March 1, 2025 to February 28, 2027, the registration fee for this vehicle will be 50% of that for gasoline and diesel vehicles.
Currently, the registration fee for first-time car registrations in Vietnam ranges from 10% to 12%, depending on the locality.
This means that buyers of battery-powered electric vehicles from March 1, 2025 will have to pay a registration fee of about 5-6% depending on the province or city where the vehicle is registered, instead of being completely exempted as before.
With this change, the rolling cost of electric vehicles will increase compared to before. For example, if an electric vehicle model has a listed price of 1 billion VND, the new registration fee will be around 50-60 million VND, depending on the locality where the vehicle is registered.
According to industry experts, this policy is expected to have a significant impact on the electric car market in Vietnam.
When registration fees are no longer exempted, the rolling cost of electric vehicles will increase, reducing the attractiveness of this segment. Previously, preferential policies helped boost electric vehicle sales, promoting the "green car" trend in Vietnam.
However, this is also considered a gradual transition for the electric car market to develop sustainably, instead of depending on short-term incentive policies.
Experts say that from now until the end of February, the electric car market may see a strong wave of car purchases to take advantage of the 0% registration fee incentive, helping to save tens of millions of dong.
Conversely, after March 1, demand for electric vehicles may be affected as consumers consider higher costs.
TH (according to VNA)