Vietnam Electric Two-Wheeler Market

Vietnam Electric Two-Wheeler Market Overview:

The Vietnam electric two-wheeler market size reached USD 222.50 Million in 2024. The market is projected to reach USD 662.00 Million by 2033, exhibiting a growth rate (CAGR) of 11.52% during 2025-2033. The market is being spurred by increasing fuel prices, government campaigns for clean mobility, and environmental concerns among consumers. Urbanization and traffic congestions are forcing demand for affordable, efficient, and environmentally friendly modes of transport. Advances in battery technology, increasing charging infrastructure, and the emergence of domestic and overseas players are likewise driving adoption. Moreover, positive policies like subsidies and tax breaks for electric vehicles (EVs) are stimulating both the consumer and producer to shift towards electric two-wheelers thus supporting the Vietnam electric two-wheeler market share.

Vietnam Electric Two-Wheeler Market Trends:

Rising Fuel Prices and Cost-Effective Mobility Needs

The on-going rise in fuel prices has rendered traditional gasoline-run two-wheelers costly to run, compelling buyers to turn towards electric variants. Vietnam, which enjoys high population density and depends heavily upon motorcycles for daily transportation, is under severe economic stress due to varying fuel prices. Electric two-wheelers are an affordable option as they have lower operating and maintenance expenses than internal combustion engine (ICE) vehicles. Affordability of charging and ease of charging using home charging solutions make electric models attractive for cost-conscious urban riders. Moreover, the increasing number of entry-level and mid-range electric two-wheelers is making them more affordable for more people, including students, delivery riders, and working-class citizens, sustaining demand. This cost benefit is one of the most prominent Vietnam electric two-wheeler market trends.

Urbanization, Traffic Congestion, and Environmental Concerns

Vietnam’s rapid urbanization has intensified traffic congestion and environmental challenges, especially in Hanoi and Ho Chi Minh City, where motorcycles dominate the roads—over 6 million in Hanoi and 7 million in Ho Chi Minh City. These vehicles contribute up to 96% of PM₂.₅ and nearly 98% of CO emissions in major cities, making air and noise pollution pressing public health concerns. Replacing just 10% of petrol motorbikes in Ho Chi Minh City with electric models could cut CO₂ emissions by over 1 million tons annually, while full electrification could reduce emissions by up to 88%. Electric two-wheelers, producing zero tailpipe emissions and operating quietly, offer a practical solution. Growing environmental awareness, combined with international climate commitments, is accelerating demand for these compact, lightweight, and congestion-friendly vehicles, making them a key component of Vietnam’s sustainable urban mobility transformation.

Government Support and Favorable Policies

The government of Vietnam has been working hard to encourage electric mobility as a means of curtailing the emissions of greenhouse gases (GHGs) and enhancing the quality of air. Incentives for the use of electric vehicles include taxes exemptions, registration fee waivers, and prospective subsidies for electric two-wheelers. The government is also investing in charging points and motivating private sector initiative in EV infrastructure development thereby fortifying the Vietnam electric two-wheeler market growth. Such initiatives as encouraging indigenous production of electric two-wheelers and batteries are also directly focused at lessening import dependency and enhancing local manufacturing. Such support measures enhance the appeal of electric vehicles among consumers as well as manufacturers. By lessening financial loads as well as enhancing accessibility, the government's strategy is contributing a lot to transforming gasoline two-wheelers into electric ones, in keeping with long-term sustainability targets of Vietnam and regional efforts to lower carbon emissions.

Vietnam Electric Two-Wheeler Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on vehicle type, battery type, voltage type, peak power, battery technology, and motor placement.

Vehicle Type Insights:

• Electric Scooter/Moped
• Electric Motorcycle

The report has provided a detailed breakup and analysis of the market based on the vehicle type. This includes electric scooter/moped, and electric motorcycle.

Battery Type Insights:

• Lithium-Ion
• Sealed Lead Acid (SLA)

A detailed breakup and analysis of the market based on the battery type have also been provided in the report. This includes lithium-ion, and sealed lead acid (SLA).

Voltage Type Insights:

• <48V
• 48-60V
• 61-72V
• 73-96V
• >96V

A detailed breakup and analysis of the market based on the voltage type have also been provided in the report. This includes <48V, 48-60V, 61-72V, 73-96V, and >96V.

Peak Power Insights:

• <3 kW
• 3-6 kW
• 7-10 kW
• >10 kW

A detailed breakup and analysis of the market based on the peak power have also been provided in the report. This includes <3 kW, 3-6 kW, 7-10 kW, and >10 kW.

Battery Technology Insights:

• Removable
• Non-Removable

A detailed breakup and analysis of the market based on the battery technology have also been provided in the report. This includes removable, and non-removable.

Motor Placement Insights:

• Hub Type
• Chassis Mounted

A detailed breakup and analysis of the market based on the motor placement have also been provided in the report. This includes hub type, and chassis mounted.

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Vietnam Electric Two-Wheeler Market News:

• In May 2025, RenewGo, a tech startup backed by Antler, launched Vietnam’s first Smart Electric Motorbike Service Center in Ho Chi Minh City, addressing critical gaps in EV aftermarket services. With over 3 million electric two-wheelers in circulation, the center focuses on battery diagnostics, extended warranties, and resale value enhancement—potentially boosting resale value by 20%. Led by Anirban Roy, it aims to protect batteries and expand financial accessibility for Vietnam’s growing EV community.
• In April 2025, Honda Vietnam launched the ICON e, its first locally produced electric scooter, from its Vinh Phuc facility—marking a major step into Vietnam’s fast-growing EV market. Powered by a 1.5kW lithium-ion battery, it offers a 50km range and 7.5-hour recharge, with flexible onboard or independent charging. Priced at about $1,130 (excluding battery), the ICON e: targets affordability, supporting Vietnam’s push toward sustainable, locally manufactured mobility solutions.
• In January 2025, VinFast, Vietnam’s leading EV manufacturer, unveiled five new electric scooters and an e-cycle at Auto Expo 2025. Among them, the Evo200 stands out with its retro design, round mirrors, and vibrant colors. Built on a 1,280mm wheelbase, it features a telescopic front fork, dual rear shock absorbers, and a wheel-mounted hub motor powered by a 3.5kWh battery, blending classic styling with modern electric mobility.

Vietnam Electric Two-Wheeler Market Report Coverage:

Key Questions Answered in This Report:

• How has the Vietnam electric two-wheeler market performed so far and how will it perform in the coming years?
• What is the breakup of the Vietnam electric two-wheeler market on the basis of vehicle type?
• What is the breakup of the Vietnam electric two-wheeler market on the basis of battery type?
• What is the breakup of the Vietnam electric two-wheeler market on the basis of voltage type?
• What is the breakup of the Vietnam electric two-wheeler market on the basis of peak power?
• What is the breakup of the Vietnam electric two-wheeler market on the basis of battery technology?
• What is the breakup of the Vietnam electric two-wheeler market on the basis of motor placement?
• What is the breakup of the Vietnam electric two-wheeler market on the basis of region?
• What are the various stages in the value chain of the Vietnam electric two-wheeler market? 
• What are the key driving factors and challenges in the Vietnam electric two-wheeler market?
• What is the structure of the Vietnam electric two-wheeler market and who are the key players?
• What is the degree of competition in the Vietnam electric two-wheeler market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Vietnam electric two-wheeler market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam electric two-wheeler market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Vietnam electric two-wheeler industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.