Vietnam needs $14B to develop EV charging stations

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Vietnam needs $14B to develop EV charging stations

^{Published on 2024-12-15 18:42:24 - MSN}

Vietnam will need nearly US$14 billion to develop a network of charging stations to develop a green transport system, said insiders.

Vietnam requires an investment of approximately $14 billion to develop its electric vehicle (EV) charging infrastructure, as reported by the Vietnam Automobile Manufacturers Association (VAMA). This investment is deemed necessary to support the government's target of having 1 million electric vehicles on the road by 2028. The current state of EV charging facilities in Vietnam is described as inadequate, with only about 150,000 charging points available, which is significantly less than what is needed to meet the growing demand for electric vehicles. The lack of sufficient charging stations is seen as a major barrier to the adoption of EVs in the country. Additionally, the article highlights the need for policy incentives, such as tax exemptions and subsidies, to encourage both the use of electric vehicles and the development of charging infrastructure.

Read the Full MSN Article at:
[ https://www.msn.com/en-xl/money/economy/vietnam-needs-14b-to-develop-ev-charging-stations/ar-AA1vTeMH ]

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