Vingroup submitted this proposal to Hanoi authorities on 23/7, as the city prepares to ban gasoline-powered motorbikes from its central districts starting mid-2026, expanding the low-emission zone by 2030.
Hanoi residents and those with temporary residence permits could have their registration fees fully covered when buying a VinFast electric motorbike between 24/7 and 24/10.
The initial registration fee for electric motorbikes is currently 2%, but it's 5% in centrally-administered cities like Hanoi and Ho Chi Minh City. For a VinFast motorbike priced around 30 million VND, billionaire Pham Nhat Vuong's company would cover 1.5 million VND in registration fees.
Buyers also receive a 10% discount on the motorbike's price. A 10% down payment is required, with the remaining balance payable over three years. Free charging at stations is also included until the end of 5/2027.
Those purchasing motorbikes for commercial services (like the Xanh SM platform) receive a 10% discount. The remaining 90% can be financed (through Shinhan Finance or Lotte Finance) for up to three years.
Therefore, Hanoi residents buying a 30 million VND electric motorbike could receive a total of 4.5 million VND in support from Vingroup.
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A user test drives a Klara S electric motorbike. Photo: VinFast. |
A user test drives a Klara S electric motorbike. Photo: VinFast.
On 12/7, Prime Minister Pham Minh Chinh instructed Hanoi to implement solutions encouraging individuals and organizations to transition to alternative vehicles. The goal is to eliminate fossil fuel-powered motorbikes and motorcycles within the first ring road by 1/7/2026.
From early 2028, alongside the motorbike ban, fossil fuel-powered personal cars will also be restricted within the first and second ring roads. By 2030, this will extend to the third ring road.
Beyond electric motorbike incentives, Vingroup also proposed support for electric car buyers. The company and its partner banks will offer car loans with a 3% annual interest rate for three years. For commercial buyers, the preferential interest rate is 4% annually for three years.
According to a 2022 study by the International Council on Clean Transportation (ICCT), two-wheelers account for nearly 73% of Hanoi's transportation. Domestic brands held about 70% of Vietnam's electric motorbike market share in 2020, led by VinFast.
Industry experts believe Hanoi's planned ban on gasoline motorbikes will significantly impact Vietnam's motorbike market. This will force residents to adjust their commuting habits and consider switching to electric vehicles.
Trong Hieu
