Vietnam is making a leap forward in the transition from traditional cars to electric vehicles, which could bring many economic benefits. In particular, it opens up many new industries and jobs with high scientific and technical content; electric vehicle production could create up to 6.5 million jobs in Vietnam by 2050.

In the March 2025 Vietnam Economic Update report, themed “The Breakthrough Journey to Electric Vehicles in Vietnam,” published by the World Bank on March 12th, it was affirmed that promoting the transition to electric vehicles is a crucial step in creating a greener transportation sector for Vietnam, reducing air pollution in cities. At the same time, the transition to electric vehicles also shows great opportunities for economic development.

The World Bank report suggests that the growth of the middle class has been driving car sales at an average compound annual growth rate of 15% between 2010 and 2022, among the highest in the region. Vietnam is well-positioned to benefit from this transition to increased car ownership and the leap forward in the shift from traditional cars to electric vehicles (EVs).