Transport Ministry proposes incentives for EV makers and buyers

HCMC – The Ministry of Transport has presented a proposal containing a range of incentives for electric vehicle (EV) manufacturers and buyers. The ministry also recommended issuiing a policy for public funding towards the acquisition and usage of such vehicles. The ministry’s proposal expands the scope of incentives for development, encompassing battery electric cars, fuel cell electric cars, and solar cars, instead of solely battery electric cars, as is the current practice. Moreover, the proposal advocates for special investment incentives for businesses involved in manufacturing, assembling, and producing batteries for electric cars. Regarding EV manufacturers, assemblers, and maintenance service providers, the ministry recommended a credit mechanism to support their operations, with priority given to manufacturing technology transfer.