Electric Vehicles

According to the development direction of Vietnam’s automobile industry, in addition to developing a wide range of trucks, common vehicles, and specialized vehicles, there is a strong focus on aligning with the global trend of environmental friendliness. This includes “encouraging the manufacturing of environmentally friendly vehicles (such as fuel-efficient vehicles, hybrid vehicles, biofuel vehicles, and electric vehicles).”

Based on the biggest advantage of having existing automobile and motorcycle manufacturing and assembly enterprises, as well as many supporting companies for famous brands worldwide (such as Toyota, Honda, Ford, and Yamaha), Vinh Phuc province aims to call for and attract investment in the development of electric vehicle production and supporting industry, gradually becoming a “leading automotive production ecosystem in the Northern region” by 2030.

The attraction and development of the electric vehicle production and supporting industry in Vinh Phuc province in the coming years are based on several advantages as follows:

(1) The mechanical engineering and metal manufacturing industry in the province has made considerable progress in terms of quantity and quality in recent stages, thus contributing to a high localization rate of automobile and motorcycle products and providing a foundation for building an automotive component ecosystem.

(2) The global demand for electric vehicles is increasing, which will attract major global automobile manufacturers to invest in the research and production of electric vehicles.

(3) Vinh Phuc has the potential to become an attractive destination for automobile manufacturers due to its location in the key economic region of the Northern Delta, its position as the gateway to the capital city of Hanoi, its connection between the Northwestern provinces and Hanoi, and its well-invested transportation infrastructure that facilitates convenient consumption, import, and export of goods.