00:00Vietnam plans to extend tax breaks for electric vehicles in a move to boost sales and cut emissions.
00:07The government wants to keep its special consumption tax reduction in place until the end of 2030,
00:15instead of letting it expire in February 2027.
00:19The policy was first introduced in March 2022,
00:23lowering EV taxes to between 1 and 3 percent from a previous range of 4 to 11 percent.
00:29Since then, adoption has surged,
00:32with annual sales jumping from about 7,000 units in 2022 to 175,000 the following year.
00:40This growth supported Vietnam's long-term goal of reaching net-zero emissions by 2050.
00:46On average, each EV cuts carbon dioxide emissions by about 0.85 metric tons per year
00:52compared with internal combustion engine vehicles.
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