Vietnam proposes new electricity pricing for EV charging stations

Vietnam has proposed new electricity pricing for electric vehicle (EV) charging stations, with rates potentially reaching VND4,937/kWh ($0.20), as the country experiences a surge in EV adoption, officials said, as reported by Vietnam Net Global.

The Ministry of Industry and Trade is draughting a decision to introduce a separate electricity pricing structure for charging stations, with rates set between existing industrial and commercial pricing categories. Entities including Vietnam Electricity (EVN), the Hanoi Power Corporation, and consumer groups support applying commercial rates, with the highest rate exceeding VND4,900/kWh ($0.20). Meanwhile, the Ministry of Transport and VinFast advocate industrial pricing, which would cap rates at VND3,314/kWh ($0.14).

Some stakeholders have suggested a dedicated pricing structure reflecting operational costs and aligning with international practices. The rapid expansion of Vietnam’s EV market is fuelling electricity demand. VinFast, the country’s leading EV manufacturer, reported sales exceeding 87,000 units in 2024, surpassing its targets and solidifying its market leadership. In response to rising EV popularity, Hanoi’s municipal government and VinGroup have launched a campaign to promote eco-friendly transportation.

VinFast is offering subsidies of up to VND70mn ($2,900) for EV buyers registering their vehicles in Hanoi between January 10, 2025, and January 31, 2026. Such incentives are expected to accelerate EV adoption, supporting Vietnam’s goal of achieving net-zero greenhouse gas emissions by 2050. Electricity consumption for EV charging made up just 0.031% of Vietnam's national commercial electricity output in 2023 but is projected to rise significantly.

V-Green, a global charging infrastructure developer, projects a 277.31% increase in electricity demand for EV charging stations between 2025 and 2030, followed by a 9.13% rise between 2030 and 2035. By 2035, EV charging demand is expected to reach 2.2bn kWh annually, comparable to Vietnam’s tourism sector consumption in 2023. The ministry’s draft proposes a dedicated pricing model balancing industrial and commercial rates, aiming to reflect the actual cost of electricity production and distribution without subsidies.

In comparison, countries such as South Korea, the United States and Thailand have implemented similar dedicated electricity pricing models for EV charging, often paired with tax incentives and subsidies to encourage EV adoption. The ministry said charging stations classified under industrial pricing would pay VND552–699/kWh ($0.023–$0.029) below the average system cost, while those under commercial pricing would pay VND467–587/kWh ($0.019–$0.025) above the average. The proposed pricing system seeks to balance affordability and infrastructure expansion while supporting Vietnam’s green energy transition.