To build a green transport system, Vietnam will require nearly USD 14 billion to establish a network of EV charging stations, according to insiders.
A World Bank report highlights that for electric vehicles (EVs) to become mainstream, particularly among first-time car buyers, a robust charging station network is essential.
Estimates suggest that Vietnam will need USD 2.2 billion by 2030 to develop a network of public charging stations. This figure is expected to rise to nearly USD 14 billion by 2040 and nearly USD 33 billion by 2050 to meet the majority of the population's EV demand.
With the rapid advancement of EV technology and the growing trend toward green transportation, demand for EVs is projected to surge in the near future. Predictions indicate that over 2.8 million EVs will be purchased from 2024 to 2035, with an additional 3 million sold between 2036 and 2050, provided the development of the charging station network is accelerated.- (VNA/VLLF)
