Impacts of policies on electric vehicle market in the world and proposed solutions for its development in Vietnam

  • Pham Ba Nam Vietnam Petroleum Institute
  • Nghiem Thi Ngoan Vietnam Petroleum Institute
  • Dao Minh Phuong Vietnam Petroleum Institute
Keywords: Electric vehicle (EV), market, policy


According to IHS Markit’s forecast, as of 2027, the manufacturing cost of electric vehicles (EVs) will be on par with that of internal combustion engine (ICE) vehicles in China and soon thereafter in the EU. Of the forecasted 89 million vehicles sold in 2030, IHS predicts that 23.5 million will be electric (nearly 27%).
The article analyses the current status of the electric vehicle market and the policies of the leading countries in this market such as China, the US, some countries in Europe and Southeast Asia. On that basis, it points out the breakthrough impacts of policies on the growth of domestic electric vehicles and proposes solutions to develop the electric vehicle market for Vietnam.  



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How to Cite
Pham, B. N., Nghiem , T. N., & Dao , M. P. (2022). Impacts of policies on electric vehicle market in the world and proposed solutions for its development in Vietnam. Petrovietnam Journal, 7, 28 - 41.

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