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The Thai cabinet has approved a budget allocation to fund a subsidy program’s second phase, which offers electric vehicle buyers up to 100,000 baht (US$3,070) per vehicle. Under the second phase of the subsidy program called EV 3.5, running from 2024 to 2027,…
Car ownership tripled in 13 years to 63 vehicles per 1,000 people last year, according to the Ministry of Industry and Trade. The number of registered automobiles reached 6.31 million by the end of last year, it said in a recent report. Last year 408,500 new…
German auto brand Volkswagen has cut the prices of three models in Vietnam by VND140-500 million (US$5,700-20,300) this month. The Teramont now costs VND2 billion, down VDN500 million, or 20%, from its original price tag. The full-size SUV, which is imported…
Zeekr, Chinese conglomerate Geely’s premium electric vehicle brand, will be distributed in Vietnam by transport services provider Tasco. Following an agreement signed Monday the EV maker joined the list of auto brands distributed by Tasco, which also includes…
Indonesian Transportation Minister Budi Karya Sumadi is encouraging more people to embrace electric vehicles (EVs) in their lives as the country wishes to boost its e-mobility adoption. However, the minister admitted that convincing people to use EVs could be…
Gasoline prices on Thursday fell to the lowest since June 20 in its third consecutive week of decline. The popular fuel RON95 dropped 1.25% to VND22,880 ($0.90) per liter. Biofuel E5 RON92 declined by 1.22% to VND21,900. Diesel fell 1.51% to VND20,190.…
VinFast sold 13,000 units of its VF 5 electric car in Vietnam in the first half of the year, making it the top seller in the market. A person familiar with the matter said that 20,000 VF 5s were sold globally. Mitsubishi Xpander was the second most popular…
The Malaysian government has included the adoption of electric vehicles (EVs) in its National Energy Transition Roadmap (NETR) towards the goal of EVs accounting for 15% of all vehicles sold by the year 2030, rising to 80% by 2050. The current import duty and…
According to the research firm Counterpoint Research, EV sales in the region more than doubled in the January to March quarter from a year before. Sales of ICE cars,meanwhile, slid by 7%. “Vietnam saw an even more impressive growth, with BEV (battery electric…
Citizens’ deposits reached a new historic peak of VND6.676 quadrillion (US$262.2 billion) as of the end of March, according to the State Bank of Vietnam. This marked a 2.2% growth from the end of 2023. Meanwhile, corporate deposits fell 3.1% to VND6.6…
VinFast is recalling 2,097 electric vehicles to fix various technical issues. Some of the VF e34 and VF 5 Plus cars produced between September 2023 and April 2024 face the threat of bolts securing the upper cover of the high-voltage battery becoming loose,…
Import turnover of completely built-up (CBU) cars in March increased by 55.4% in volume and 41.4% in value compared to the previous month. A preliminary report from the General Statistics Office (GSO) said that Vietnam imported about 15,000 CBU cars in March…
German sportscar manufacturer Porsche has opened its Porsche Studio in Singapore intending to provide an improved studio model. The new two-story showroom is part of downtown Singapore’s famous Guoco Midtown mixed-use development, near the Bugis heritage…
Vietnam saw the second sharpest decrease, of 25%, in automobile sales in Southeast Asia last year behind only minuscule market Myanmar. According to the ASEAN Automotive Federation (AAF), in the region’s seven main markets, Indonesia, Thailand, Malaysia, the…
The world’s biggest electric vehicle maker, China’s BYD, will set up shop in Hanoi in May. It would sell its first cars in the sedan and SUV segments, sources familiar with the matter said. Its SUV BYD Atto 3 is among the most sought-after cars globally. It…
Toyota Vietnam has announced the recall of 25,971 Avanza Veloz, and Yaris Cross cars to fix faulty front shock absorber nuts. The nuts were not tightened sufficiently due to design issues, and could become loose and cause noises, even fall off. The affected…
