HANOI: Vietnam continues to exempt registration fees for battery-powered electric cars until Feb 28, 2027, Vietnam News Agency reported Friday (March 7).
The move aims to encourage more consumers to consider buying electric vehicles, which can lead to reduced carbon emissions and a cleaner environment.
The Vietnam Federation of Commerce and Industry said extending the zero percent fee for the first registration of electric cars could encourage more consumers to adopt these vehicles.
According to the Ministry of Finance, if the zero percent registration fee is applied to battery-powered electric cars in the period of March 1, 2025 to Feb 28, 2027, the state budget revenue from registration fees will decrease by over 4.8 trillion Vietnamese dong (US$192 million) per year. - Xinhua
