Vietnam Surges to Southeast Asia’s Top 2 in Electric Vehicle Adoption

This marks the first time Vietnam has come so close to leading the region in BEV sales, presenting an opportunity to become Southeast Asia’s largest electric vehicle market by the end of this year.

In the broader context, Vietnam is currently the fourth-largest automotive market in Southeast Asia by annual new car sales, trailing behind Indonesia, Malaysia, and Thailand. However, when focusing solely on pure electric vehicles, Vietnam has surged to second place in the region, surpassing Indonesia and Malaysia.

Notably, the majority of Vietnam’s electric vehicle sales come from VinFast. The company’s sales in the first 8 months of 2025 have already exceeded its entire 2024 sales volume (approximately 87,000 units). Meanwhile, other brands like BYD, Wuling, Mercedes, and BMW have yet to disclose detailed sales figures.

Experts highlight that the gap of nearly 2,700 units with Thailand is minimal given the current growth rate. If this momentum continues, Vietnam is well-positioned to overtake Thailand as Southeast Asia’s top BEV market by the end of 2025.

VinFast’s sales in the first 8 months of 2025 have surpassed its 2024 total (around 87,000 units). With this performance, Vietnam is closely trailing Thailand by just 2,700 units. Sales experts note that this gap is relatively small, making Vietnam’s potential to become Southeast Asia’s largest electric vehicle market by the end of 2025 highly promising.

Currently, pure electric vehicles account for approximately 26% of all new car sales in Vietnam—the highest rate in the region, even outpacing Thailand’s 23%. In the list of the top 10 best-selling models, the top three positions are all held by VinFast electric vehicles (VF 3, VF 5, VF 6).

This growth is driven by several factors: tax exemptions for electric vehicles, VinFast’s free charging programs, and the shift from internal combustion engine (ICE) vehicles to BEVs, particularly among commercial transport operators.

Charging infrastructure is another advantage. V-Green, VinFast’s charging platform provider, operates approximately 150,000 charging ports nationwide for both cars and electric motorcycles, with the majority dedicated to cars. Additionally, other companies and foreign automakers are investing in more charging stations, giving Vietnam an edge over its neighbors.

In Thailand, BEV sales reached 92,665 units in the first 8 months of 2025, a 35.4% increase year-over-year. This growth is fueled by a strong influx of Chinese automakers into the Thai market.

However, overall, Thailand’s automotive market is stagnating. BEVs account for 23% of total sales, lower than Vietnam’s share. Moreover, Thailand’s charging infrastructure remains limited, with approximately 3,720 stations and 11,622 ports as of March 2025, according to Anari Energy.

In Indonesia, Southeast Asia’s largest automotive market for many years, BEV sales reached 51,191 units in the first 8 months, representing about 10% of new car sales. This figure has already surpassed 2024’s total (43,188 units), indicating a clear upward trend. However, Indonesia has lost its regional lead in new car sales to Malaysia.

In Malaysia, BEV sales reached 23,296 units in the first 8 months of 2025, accounting for 5% of the total market, a 63.3% increase compared to the same period in 2024. The best-selling brand in Malaysia is BYD, followed by Proton, a local automaker with significant ownership by Geely.

The Philippines, the region’s fifth-largest market, sold fewer than 3,300 BEVs in 8 months, representing 1% of new car sales.

In contrast, Singapore, despite its smaller market size, recorded 9,822 BEV sales in the first half of 2025, a 63.2% increase year-over-year. BEVs account for 41% of new car sales in Singapore, the highest rate in Southeast Asia.

TH (Tuoitrethudo)