The Market Monitor Minding the Nation's Business
Vingroup will introduce a special “Trade Gas for Electric” program across Vietnam, India, Indonesia, and the Philippines designed to encourage motorists to transition from gasoline-powered vehicles to electric mobility through additional incentives on VinFast electric vehicles and scooters.
Customers who switch from old gasoline vehicles to new VinFast electric vehicles may receive an additional 3 percent discount on cars and 5 percent discount on VinFast electric scooters, on top of existing incentives available in each market. The program is expected to be implemented across all four markets in Vietnam, India, Indonesia, and the Philippines.
In line with VinFast’s pioneering spirit, GSM Green and Smart Mobility Joint Stock Company is also preparing complementary initiatives within Vingroup’s green ecosystem. This includes a 10 percent fare reduction for electric mobility services on the Xanh SM platform in Vietnam and Green SM in Indonesia, which will run up to March 31, depending on each market. The initiative aims to provide customers with more environmentally friendly and cost-efficient transportation options during a period of fuel price uncertainty.
“The special ‘Trade Gas for Electric’ program launching across four key markets this March reflects VinFast’s timely response to geopolitical volatility affecting socio-economic conditions in many countries. As one of the pioneering manufacturers leading the global electric vehicle revolution, VinFast, together with companies within Vingroup’s green ecosystem, aims to help reduce the impact of fuel prices on people’s daily lives while also lowering environmental pollution through smarter, more sustainable, and more cost-efficient mobility solutions,” Duong Thi Thu Trang, the deputy CEO of Global Sales, VinFast, said.
The “Trade Gas for Electric” program will be implemented alongside other incentive initiatives available in each market. Through layered incentives, Vingroup and companies within its ecosystem aim to create favorable conditions for customers to transition more quickly to electric vehicles, reduce dependence on gasoline, stabilize daily mobility costs, and contribute to building a cleaner and more sustainable living environment.
VinFast, a subsidiary of Vingroup JSC, one of Vietnam’s largest conglomerates, is a pure-play electric vehicle manufacturer with the mission of making EVs accessible to everyone. VinFast’s product lineup today includes a wide range of electric SUVs, e-scooters, and e-buses. It is embarking on its next growth phase through rapid expansion of its distribution and dealership network globally and increasing its manufacturing capacities with a focus on key markets across North America, Europe, the Middle East and Asia.