Vietnam is among the top 10 most popular electrified vehicle markets in the world by 2025

With a market share of 29% of total new car sales in 2025, Vietnam belongs to the group of the 10 most popular markets for this type of vehicle.

The International Energy Agency (IEA) recently released a list of the top 10 markets with the highest global market shares of electrified vehicles (including plug-in hybrid electric vehicles - PHEVs, and battery electric vehicles - BEVs) in total new vehicle sales. Most countries in the top 10, including Vietnam, have experienced quite rapid growth in electrified vehicle market share, surging from the 10% threshold in 2020 to 30% or more, and even reaching nearly 70% by 2025.

Combining data from the IEA, VAMA, and VinFast, Vietnam ranked 8th in the top 10 in 2025. The cases of Vietnam and Uruguay are quite special, as in 2020 they had virtually no electric vehicles, but by 2025 this figure increased to nearly 30%.

Specifically, in 2025, VinFast sold more than 175,000 electric vehicles out of a total of over 604,000 vehicles in the entire market. PHEVs accounted for a very small fraction, statistically insignificant, coming from products of brands such as BYD, Kia, Mercedes, and Volvo. Therefore, it can be considered that all electrified vehicles in Vietnam are represented by VinFast's sales, accounting for nearly 29% of the entire market.

According to the IEA, Vietnam's proportion of electrified vehicle sales in 2025 was higher than the global average (25%). At the same time, the figure in Vietnam was also higher than many other major markets such as Australia (15%), South Korea (11%), and the US (10%).

The popularity of electrified vehicles in Vietnam in 2025 also led the Southeast Asian region. Thailand was the closest nation, with about 25% of new vehicles sold being electrified. This country ranked 11th on the list of countries with the highest electrified vehicle popularity in the world.

Considering BEVs alone, in 2020, sales of this vehicle type in Vietnam were practically zero as the market was just nascent, pioneered by the Porsche Taycan luxury model. Five years later, the BEV segment not only increased in sales volume but also attracted dozens of new brands to participate, with VinFast as the locomotive. As for PHEVs, sales were almost negligible compared to BEVs.

Apart from VinFast, many other automakers sell BEVs such as BYD, Geely, Hyundai, MG, BMW, Mercedes, Audi..., but none of them publicly disclose their sales figures.

As of July 2026, Vietnam's cumulative BEV sales reached 137,773 units, a 74% increase compared to the same period in 2025, accounting for about 35.5% of total new car sales. Over the past two years, BEVs have been the main growth driver of the domestic automotive industry.

Unlike other markets in Southeast Asia where Chinese cars exert a major influence and dominate the BEV segment, Vietnam witnesses the dominance of domestic automobiles, VinFast. This automaker's sales can also be regarded as the sales of Vietnam's BEV market, as competitors still have modest sales volumes.

The IEA forecasts that the overall market share of electrified vehicles in Vietnam could reach 80% of total sales by 2035, the highest level in the Southeast Asian region as a whole. The drivers boosting electrified vehicle sales stem from increasingly accessible vehicle prices and state incentive policies such as exemptions or reductions in special consumption tax and registration fees.