Vietnam becomes Southeast Asia’s 2nd largest EV market

By Thanh Nhan October 7, 2025 | 02:21 am PT

Vietnam ranked as the second-largest electric vehicle (EV) market in Southeast Asia during the first eight months of 2025, with nearly 90,000 units sold, trailing only Thailand.

The figure is based entirely on sales data from VinFast, as other automakers such as BYD, Wuling, Mercedes, and BMW have not disclosed their numbers.

VinFast has already surpassed its 2024 total of 87,000 vehicles, and analysts predict that Vietnam could overtake Thailand to become the region’s top EV market by the end of this year.

Between January and August, battery electric vehicles (BEVs) accounted for 26% of all cars sold in Vietnam, with three VinFast models ranking among the country’s 10 best-selling vehicles.

An electric car at a private charging station in HCMC. Photo by Thanh Nhan

An electric car at a private charging station in HCMC. Photo by VnExpress/ Thanh Nhan

Industry experts attribute the surge to government incentives, including registration fee waivers, as well as VinFast’s free charging policy and growing consumer preference for electric over internal combustion engine (ICE) cars.

In comparison, Thailand sold 92,665 BEVs during the same period, a 35.4% year-on-year increase, driven largely by the expansion of Chinese automakers. However, overall car sales in Thailand have stagnated, with EVs now accounting for 23% of its market.

Despite its EV growth, Vietnam remains the fourth-largest overall auto market in Southeast Asia, following Indonesia, Malaysia, and Thailand.