Ministry hopes to boost electric car sales with registration fee cuts

The current fee for cars with less than nine seats is 10-15 percent of their price depending on the locality, and the ministry wants the fee for electric cars to be 5-7.5 percent.

The rate will be effective for five years.

In May, Vietnam’s largest conglomerate, Vingroup, called for incentives related to taxes and fees as it prepares to start selling electric vehicles this year.

Its VinFast, the only local electric car producer, has an annual production capacity of 250,000 vehicles.

The company’s first electric cars, at prices starting at VND590 million (US$25,700), will be delivered in November.