Electric vehicle production boom in 2022
The explosion of the electric car race caused a series of car manufacturers to rush to launch electric vehicle products on the market. Leading experts in the automotive industry believe that 2022 will be a strong explosive year for the electric vehicle market in Vietnam.
The past year 2021 marks a new milestone for the domestic auto market with the name electric cars. More specifically, the appearance of the VinFast VF e34 electric car is considered to be the beginning of the “zero emissions era”, converting from internal combustion engine cars to zero-emissions and environmentally-friendly electric cars.
Following that, a series of other electric vehicle names were introduced by VinFast at prestigious exhibitions such as VF8, and VF9, and announced to officially stop producing internal combustion engine vehicles at the end of 2022. VinFast is determined to Switch to pure electric cars as an affirmation of VinFast’s automotive ambition is the inevitable trend of the future.
Not only VinFast, but many major car manufacturers in the world are also planning to produce electric cars, joining the race to produce pure electric cars in 2022. Among them, KIA after introducing the car model. KIA EV6 electric car in mid-2021 was officially sold in the market this year.
In addition, automakers such as Volvo, Tesla, Mercedes-Benz, Toyota, etc. have all prepared to launch hybrid or pure electric vehicles on the market, creating a premise for a change in the trend of electric vehicles in the world Vietnam in 2022.
Or FDI enterprises such as Mitsubishi Vietnam, and Porsche Vietnam also urgently invest in battery charging stations, hoping to cover stations across the country to serve the distribution of electric vehicles. The “busy” of electric cars seems to have been predicted in advance, but perhaps 2022 will really be a booming year for the Vietnamese auto market.
Previously, the Vietnam Automobile Manufacturers Association (VAMA) proposed the idea of a roadmap for the development of electric vehicles in Vietnam from now to 2050, divided into 3 phases.
Specifically, in the “first phase” (2021-2030), Vietnam will reach the number of 1 million electric vehicles by 2028.
In phase 2: (from 2030 to 2040) with a fast growth rate, Vietnam will maintain a fast growth rate in electric cars. By 2040, Vietnam will reach about 3.5 million vehicles.
In phase 3: (from 2040 to 2050) steady growth will help Vietnam reach 4.5 million vehicles by 2050, then saturate with 100% electric vehicles.
According to VAMA’s assessment, the production cost of electric vehicles, in general, will be 45% higher than that of internal combustion engine vehicles. Therefore, the price of electric vehicles will be higher if there is no supporting policy. Although currently, the price of gasoline has increased sharply, along with the battery rental policy from Vinfast, which has helped electric cars partly compete with internal land-motor vehicles, there are still quite a few shortcomings that need to be resolved in order to be able to help the customers. Electric vehicles are more well-received. Globally, hybrid vehicles (HEV & PHEV) have high growth potential by 2030 and from there, pure electric vehicles (BEV) will gradually overtake HEV and PHEV.
It can be said that both experts and customers expect Vietnam to quickly develop electric vehicles in the near future. In addition to the outstanding advantages, electric cars will certainly become more and more affordable, travel distances are longer and more convenient. And 2022 will be an important milestone in the development of electric cars in the Vietnamese market.