Latest information on the expected support level when converting gasoline cars to electric vehicles

HOÀI ANH |

Hanoi - When converting gasoline cars to electric vehicles, people are expected to receive a support of 20% of the vehicle value but not exceeding 5 million VND.

Hanoi City People's Committee has just sent a report to Hanoi City People's Council on the low-emission zone project in Ring Road 1.

According to the project content, phase 1 from July 1, 2026 - December 31, 2026 will be piloted in Hoan Kiem ward.

The low emission zone is limited to 11 streets in Hoan Kiem ward including: Trang Tien, Hang Khay, Le Thai To, Hang Dao, Hang Ngang, Hang Buom, Ma May, Hang Bac, Hang Mam, Nguyen Huu Huan, Ly Thai To. This area is 0.5 km2 wide, 3.5 km in circumference, with a population of about 22,000.

In low-emission areas, gasoline motorbikes are prohibited from circulating from 6 pm to 12 am on Fridays, from 6 am to 12 am on Saturdays and Sundays. Motorbikes and gasoline motorbikes operating on the application software platform supporting transport connections are also prohibited.

In the Report on the Low Emission Zone Project in Ring Road 1 of the Department of Agriculture and Environment, there is content related to the implementation of policies and measures to support the conversion of road vehicles using clean energy.

According to the Department of Agriculture and Environment, the solutions proposed in the Low Emission Zone Project and the contents of the Draft Resolution of the City People's Council on supporting the conversion of road vehicles using clean energy and some measures to limit road vehicles causing environmental pollution have a similar and highly complementary level, showing unity in the city's policy orientation. First of all, both policies are based on a modern approach of managing vehicles according to emission levels instead of vehicle types, in which emission standards are used as a basis for classifying, controlling and limiting vehicles in circulation.

According to the draft Resolution, the city budget directly supports individuals who have permanent residence or have temporarily resided continuously for 2 years or more in Hanoi, who are owners of motorbikes and motorcycles using fossil fuels registered before the date of promulgation of the Resolution, when converting to clean energy vehicles with a value of 10 million VND or more; each individual is supported with 1 vehicle in the period from the date the Resolution takes effect to before January 1, 2030.

The support level is 20% of the vehicle value but not exceeding 5 million VND; poor households are supported 100% of the vehicle value but not exceeding 20 million VND, near-poor households are supported 80% but not exceeding 15 million VND.

In case of not receiving cash support, people can choose to receive support with a ticket card using public passenger transport services with equivalent value.

In addition, the city supports 30% of loan interest for the entire value of the loan contract when individuals buy motorbikes and electric motorbikes in installments for a term of no more than 12 months.

For businesses and organizations, the budget supports 30% of commercial bank loan interest during the loan term (maximum not exceeding 5 years) for units providing public utility services, passenger transport and freight transport in the city when investing in green transport vehicles, including types of vehicles such as ambulances, postal vehicles, specialized vehicles (sweeping, washing roads, transporting garbage), school buses, taxis, contract cars with fewer than 8 seats and rental vehicles serving urban public transport.

A similar loan interest support policy is also applied to businesses providing self-drive vehicle rental services when investing in green vehicles for public purposes.

In addition, organizations can also access loans from the City Development Investment Fund and the Hanoi Environmental Protection Fund according to current regulations.

HOÀI ANH
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