Global Trends in Electric Vehicle (EV) Transition

The global trend towards the transition to electric vehicles (EVs) is rapidly gaining momentum and has become an integral part of the sustainable development strategies of many countries. This transition focuses not only on reducing carbon emissions but also on increasing renewable energy usage and improving urban air quality. Currently, China and European countries such as Norway, the Netherlands, Sweden, and Iceland are leading the way in EV adoption. These countries have implemented strong incentives, such as tax benefits and charging infrastructure support, to make it easier for consumers to switch to electric vehicles.

Vietnam is also part of this global trend. In recent years, the sales of electric vehicles in Vietnam have grown dramatically, making the country one of the most dynamic EV markets in Southeast Asia. According to a report by market research firm Counterpoint Research, electric vehicle sales in Vietnam in Q1 2024 increased by more than 400% compared to the same period last year, contributing to approximately 17% of total EV sales in Southeast Asia. This shows that Vietnamese consumers are increasingly opting for electric vehicles, not only for economic benefits but also due to their environmental awareness.

Some studies predict that electric vehicles will account for up to two-thirds of global car sales by 2030. The Vietnam Automobile Manufacturers' Association (VAMA) also forecasts that by 2028, Vietnam will reach 1 million electric vehicles and about 3.5 million EVs by 2040. This is a significant step forward in modernizing the automotive industry and promoting sustainable development.


Therefore, the essential demand in the near future is to develop a fast, high-capacity electric vehicle charging infrastructure that meets international quality and safety standards in Vietnam. The charging network needs not only to expand in quantity but also to improve in quality to meet the growing needs of consumers. Investing in charging infrastructure will be a key factor in accelerating the transition to electric vehicles, thereby contributing positively to environmental protection and improving the quality of life for citizens.

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