Vingroup has launched a new campaign to encourage the transition to electric transport, offering buyers discounts when trading in gasoline-powered cars for electric vehicles. The initiative is linked to the instability of global fuel prices and the rising cost of transportation.
The company announced the launch of the program on the evening of March 11th. The campaign operates in four markets - Vietnam, India, Indonesia, and the Philippines, where the company promotes its electric vehicles.
As part of the program, buyers who trade in gasoline-powered cars for VinFast electric vehicles receive additional discounts. In particular, a 3% discount on electric cars and a 5% discount on electric motorcycles is provided.
According to Duong Thi Thu Trang, Deputy General Director of VinFast for International Sales, the trade-in program for used cars for electric vehicles is an "urgent measure" against the backdrop of geopolitical events and rising fuel prices, which are putting pressure on household and business transportation costs.
Simultaneously, the Xanh SM electric taxi service of Green and Smart Mobility JSC (GSM) has begun offering a 10 percent discount on electric vehicle rides. The promotion is valid in Vietnam and Indonesia until March 31, 2026.
The company expects that the reduction in tariffs will make electric transport rides more accessible and accelerate the transition of passengers to environmentally friendly modes of transport.
Business initiatives coincided with government measures to stabilize the fuel market. The country's authorities issued Decree No. 72, according to which, from March 9 to April 30, 2026, import duties on a number of types of fuel are temporarily reduced to 0%. The measure is aimed at containing domestic fuel prices against the backdrop of tensions in the Middle East and the volatility of global energy markets.
At the same time, the Vietnamese authorities are also preparing a gradual transition of major cities to more environmentally friendly transport. Thus, in Hanoi, it is planned to restrict the use of gasoline motorcycles in the central areas within the first ring road from July 1, 2026, after which restrictions may be extended to other areas of the city.
In Ho Chi Minh City, plans are also being considered for the gradual transition of taxis, ride-sharing services, and delivery services to electric transport in the coming years.