Vietnam leads Southeast Asia in EV sales

It represented a 71% year-on-year increase. BEV accounted for 35.3% of all new vehicles, the highest share in Southeast Asia's four largest automotive markets, the other three being Indonesia, Malaysia, and Thailand.

VinFast, Vietnam’s top-selling automotive brand across all vehicle segments, accounted for almost all the BEVs sold. Ford's Mustang made up a small number, but some automakers selling electric vehicles did not disclose their sales figures.

BEVs refer to vehicles powered only by electricity to distinguish from hybrids, which use both electricity and gasoline, and are supported by a registration fee exemption and preferential 3% special consumption tax until the end of 2030.

Thailand closely trailed Vietnam in BEV sales, selling 104,418 vehicles. But it posted the fastest growth rate among the region's four largest of 91%.

Chinese automakers BYD, Aion, and MG collectively hold the largest share of its BEV market.

Thailand too offers sweeteners such as subsidies and excise tax breaks to encourage BEV adoption. The government is also considering a US$714 million plan to replace 80,000 aging vehicles, according to Reuters.

Indonesia remains Southeast Asia's largest auto market. BEV accounted for 16% of its new vehicle sales in the first half.

A VinFast Minio Green seen in Hanoi. Photo by VnExpress/Thanh Nhan

Chinese brands again dominate the Indonesian market. According to local auto news platform DetikOto, all 10 of the country's best-selling BEV models were from Chinese automakers like BYD, Jaecoo, and Geely.

VinFast sold 1,934 vehicles in Indonesia, with the mini SUV VF 3 accounting for 1,355.

Malaysia recorded the lowest BEV sales among the big four though they grew by 85%, the second-fastest rate in the region after Thailand.