Market Share of Vietnam Electric Vehicle Industry
The Vietnamese electric vehicle market is dominated by several key players, such as Vinfast Auto Ltd, Hyundai Motor Co. Ltd, and Mercedes-Benz Group AG. The rapid expansion of electric vehicle manufacturing facilities and the introduction of new electric vehicle models across the country will likely create lucrative market opportunities between 2024 and 2029. For instance,
- In May 2023, Mercedes-Benz Group AG introduced three new fully electric car models in Vietnam: the EQB SUV, EQE SUV, and EQS SUV. These cutting-edge vehicles offer sustainable and eco-friendly driving solutions while providing luxurious and innovative features that impress even the most discerning car enthusiasts.
- In February 2023, TMT Automobile Joint Stock Company (TMT Motors) signed a strategic cooperation agreement with SAIC-GM-Wuling (SGMW) to manufacture, assemble, and distribute electric vehicles in Vietnam under the Wuling brand.
Vietnam Electric Vehicle Market Leaders
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Vinfast Auto Ltd.
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Mercedes-Benz Group AG
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Tesla Inc.
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Honda Motor Co. Ltd.
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Hyundai Motor Company
*Disclaimer: Major Players sorted in no particular order
