Vietnam Electric Two-Wheeler Market

Vietnam Electric Two-Wheeler Market Overview

Vietnam Electric Two-Wheeler Market size reached USD 643 million in 2025 and is estimated to reach USD 3,904 million in 2033 and the market is estimated to grow at a very high CAGR of 25.3% from 2026-2033 driven by robust economic growth and accelerating urbanization, rising adoption of electric two-wheelers, and supportive government policies and initiatives.

Market Size & Forecast:

• • 2025 – USD 643 Million
  • 2033 – USD 3,904 Million
  • Market Forecast – CAGR of 25.3% from 2026-2033

Key Segment Insights:

• • Vehicle Type Insights: Electric scooters captures the largest market share of  the Vietnam electric two-wheeler market however, E-motorcycle segment is projected to register a higher CAGR over the forecast period.
  • Battery Type insights: Sealed lead acid vehicles type dominates the market and is expected to maintain its lead due to its lower cost.
  • Battery Technology Type Insights: Fixed battery-type vehicles hold the largest share and continue to grow, driven by affordability.
  • Voltage Type Insights: 48V battery segment dominates the e2W market.

Vietnam Electric Two-Wheeler Market  Trends

Expansion of Battery Swapping Ecosystem, companies are launching new models with features of  battery swapping supported by rapid rollout of battery swapping stations (e.g., VinFast ecosystem), V-Green has installed 4,500 battery swapping stations and plans to expand to 45,000 nationwide by Q1 2026.

Vietnam Electric Two Wheeler Market  Growth Drivers

Robust Economic Growth and Rise in Urbanization

Vietnam’s GDP grew by an estimated 8.02% in 2025, marking a strong economic phase driven by reform, innovation, and regional integration. GDP per capita in 2025 increased to USD 5,026 from USD 4,700 in 2024. Rising investor confidence is strengthening its position as a dynamic Asian market. The motorcycle industry, among the world’s largest, is accelerating alongside rapid electric vehicle adoption, supported by environmental policies and Hanoi’s planned ICE vehicle ban, further pushing the transition toward electrification.

Rapid urbanization, increasing per capita income, the rising development in the transport infrastructure, and the emergence of e-commerce services and rail hailing services are some other drivers that are leading to an upsurge in demand for the electric two-wheeler market in the country.

Increasing Adoption of Electric Two Wheeler Vehicles

The factors which are propelling the growth of the Vietnam electric two-wheeler market include the increasing adoption of electric vehicles across the country as a result of rising awareness among the population related to the harmful effects of pollution and greenhouse gas emissions in the environment.

The growing adoption of E2W in is driven by increasingly affordable models from domestic players like VinFast and Pega, along with Chinese OEMs. Several models, are priced below VND 20 million, making electric mobility more accessible and affordable than conventional alternatives this has led to the surge in total number of E2W registration in Vietnam reaching an all-time high figure of  2.3 million in 2023.

Government Initiatives and Supportive Policies

Vietnam has pledged to cut greenhouse gas emissions by 9% by 2030 from BAU levels, with a potential increase to 27% subject to international support, and aims for net-zero transport emissions by 2050. Decision No. 876/QĐ-TTg (2022) outlines its green transition strategy, promoting EV production, imports, and charging infrastructure through 2030, followed by phasing out fossil-fuel vehicles by 2040 and achieving full electrification by 2050.

Favourable government initiatives and supportive regulations to encourage the adoption of electric vehicles and significant shift in the preference towards the electric vehicle in the country owing to their ability to produce less noise pollution, environment-friendly nature are further bolstering the growth of the Vietnam electric two-wheelers market during the forecast period.

Challenges Faced by Vietnam Electric Two-Wheeler Market  Companies

Growth of Vietnam’s electric two-wheeler market is constrained by limited charging infrastructure and high battery costs. Additionally, weak and ineffective EV policies, lack of incentives or subsidies, and unclear regulations around battery production and charging infrastructure are hindering investment and slowing overall adoption.

Vietnam Electric Two-Wheeler Market  Segment Analysis

Vehicle Type Market Insights: Electric scooters captures the largest market share of  the Vietnam electric two-wheeler market

In 2025, Electric scooters captures the largest market share of  the Vietnam electric two-wheeler market. E-motorcycle segment is projected to increase at a faster CAGR over the forecast period owing to the growth in the adoption of these electric two-wheelers in the large urban areas across the country. In addition, the ability of electric motorcycles to decrease pollution is considered as an alternative to gasoline-powered motorcycles, and rising manufacturing of e-motorcycles with enhanced performance and driving range are also some other factors driving the growth of the market in this segment.

Battery Type Market Insights: Sealed lead acid vehicles type dominates the market and is expected to maintain its lead due to its lower cost.

Sealed lead acid segment hold the largest market share in 2025 due to its low cost as compared to the lithium-ion battery. Moreover, various characteristics of such type of battery, such as high reliability, ability to last in difficult conditions with less requirement of maintenance, and easy transportation, are some other significant factors which are leading to an upsurge in demand for such batteries in the market across the country. However the lithium-ion battery vehicles are projected to grow at higher CAGR as various new models are launch with lithium-ion battery.

Battery Technology Type Market Insights: Fixed battery type vehicles holds the largest market share in 2024.

Fixed battery type vehicles holds the largest market share and continues to grow driven by its affordability. These battery type offer lower upfront cost, simpler design, better integration, and improved weight distribution. These systems can support larger battery capacity, enhancing range, while also improving security.

Voltage Type Market Insights : 48V battery segment dominates the e2W market.

Based on voltage type, the 48V battery segment dominates the market revenues and is becoming increasingly popular owing to its strong compatibility with E-scooters and its ability to deliver superior power performance. 48V battery offers higher efficiency than lower-voltage systems, making it ideal for commuting, touring, and light off-road use. It delivers better power utilization, reduced energy loss, and improved performance. This enhances range, supports advanced pedal assist, and makes 48V batteries a preferred choice over traditional 36V systems.

Vietnam E2W Market  Major Players & Competitive Landscape

Several leading companies are operating in the Vietnam Electric Two-Wheeler Market are VinFast, Pega, Yadea, Dibao, Anbico, Detech, DK Bike, Datbike, Selex Motors, Honda, Yamaha and many more. The market is dominated by VinFast, Pega, Dibao.

Key Vietnam Electric Two-Wheeler Market  Developments

• • In Jan 2026, VinFast has launched four new electric motorbike models targeting diverse user needs, including three with battery-swapping and one compact, pedal-assisted model for students. Supporting this rollout, V-Green has installed 4,500 battery swapping stations and plans to expand to 45,000 nationwide by Q1 2026.

Key Vietnam Electric Two-Wheeler Market  outlook

In light of the governments net-zero transport emissions by 2050 and rising adoption of electric two-wheelers, GMI Research expects Vietnam Electric Two-Wheeler Market  is forecast to grow at a compound annual growth rate (CAGR) of over 25.3% in the coming years. In 2025 the market reached USD 643 million, with the E2W market set to crack the USD 3.9 billion barrier by 2033.

Vietnam Electric Two-Wheeler Market  Research Report Segmentation

Vietnam Electric Two-Wheeler Market Scope of the Report

The Vietnam Electric Two-Wheeler market has been segmented on the basis of vehicle type, battery type, technology type, distance covered, and voltage type. Based on vehicle type, the market is segmented into an e-scooter/moped and e-motorcycle. Based on battery type, the market is segmented into sealed lead acid and lithium-ion. Based on technology type, the market is segmented into plug-in and battery. Based on the distance covered, the market is segmented into below 75 miles, 75-100 miles, and above 100 miles. Based on the voltage type, the market is segmented into 36V, 48V, 60V, and 72V. Based on technology type, the market is segmented into fixed and Swappable/Removable.

Vietnam Electric Two-Wheeler Market by Vehicle Type

• • E-Scooter/Moped
  • E-Motorcycle

Vietnam Electric Two-Wheeler Market by Battery Type

• • Sealed Lead Acid
  • Lithium-Ion

Vietnam Electric Two-Wheeler Market by Technology Type

• • Plug-In
  • Battery

Vietnam Electric Two-Wheeler Market by Distance Covered

• • Below 75 Miles
  • 75-100 Miles
  • Above 100 Miles

Vietnam Electric Two-Wheeler Market by Voltage Type

• • 36V
  • 48V
  • 60V
  • 72V

Vietnam Electric Two-Wheeler Market by Battery Technology Type

• • Fixed
  • Swappable/Removable

Vietnam Electric Two-Wheeler Market Leading players

• • VinFast

  • Pega

  • Yadea

  • Dibao

  • Anbico

  • Detech

  • DK Bike

  • Datbike

  • Selex Motors

  • Honda

  • Yamaha