Ministry suggests registration fee for electric cars at half of that for fuel-run counterparts

A Vinfast electric car model (Photo: Vinfast)

Hanoi (VNA) – The Finance Ministry has suggested battery-powered cars are subject to the first-time registration fee at half of that for fuel-powered ones with the same number of seats.

The suggestion is part of amendments and supplements to several articles of the Government’s Decree No. 140/2016/ND-CP on registration fee, which were drafted by the ministry.

Accordingly, the first-time registration fee for battery-powered cars would be applied for five years since the revised Decree takes effect. The second-time registration fee would be the same as that for their fuel-powered counterparts.

The move is part of efforts to comply with Deputy Prime Minister Le Minh Khai’s directions to encourage investment and consumption of electric vehicles in line with the Law on Environment Protection.

According to the proposal, fuel-powered cars under nine seats are currently subject to a registration fee of 10-15 percent of their value, depending on localities so electric cars would be subject to a registration fee of 5-7.5 percent of their value./.