Challenges and Opportunities

IV.
Challenges and opportunities
A. Range anxiety and limitations of current electric vehicle technology
Nowadays, people are making efforts to take measures to protect the environment.
Since then, vehicles that do not use fuel were born. It has become a major turning point
inthe improvement of the natural environment. But there are limits to electric vehicle as
well, and we need to figure out how to go beyond them.
1) Manufacturing technology is not as complete as gasoline-powered car:

Customers find it hard to pay attention to new automobile models that are rarely
used because electric cars are novel products on the Vietnamese market.
2) High starting price and high repair costs:
The fact that maintaining electric vehicles is more expensive than maintaining
motor vehicles is another cause for concern. This significantly affects the guest market
with their decision.
3) Worry about finding a place to charge and batteries:
It is true that in cold weather, cars with internal combustion engines use more
energy than those without. But the problem with electric cars will be more serious,
because finding a gas station is still easier than finding a place to charge the battery.
Although electric cars today have considerably greater range and charge times than
they did 10 years ago, automakers still frequently misrepresent the speed and range of
their vehicle’s level of charging. Additionally, after ten years of use, electric cars can
only travel half as far as the original when fully charged.
B. Battery technology advancements and future developments
Nowadays, to keep up with the trend of electric vehicles gradually dominating the
market, manufacturers are constantly trying to come up with new inventions to improve
battery tachnology. In addition, it is especially important to note that chemical battery
technology: Li-ion battery. It’s a fantastic invention because high power density and
low maintenance cost of rechargeable Lithium-ion batteries helped to earn its reputation
as the leading technology for transportation, aviation, aerospace, and stationary energy
storage sector. These batteries can help augment the generation capability and provide
needed load shaping during times of limited production.
Because the car battery is the main part that helps electric cars operate. When it
was still the gasoline car era, auto companies only focused on developing gasoline car
models and engines. When electric cars are a trend, technology for gasoline cars is no
longer important. Car manufacturers are racing to compete in electric vehicle engines,
with electric vehicle batteries being the key. Furthermore, in order to master the game
in the era of electric car technology, the source of materials for making batteries is the
key issue, not prefabricated batteries, car manufacturers have bypassed intermediary
supply chains, working with raw material miners or build their own metal mining
operations: lithium, nickel and cobalt - the main raw materials for manufacturing car
batteries. Partly to take the initiative in raw materials. Partly to maintain sustainable
development in the future because the above raw material resources are finite. It's
evident that producers of electric vehicles are competing to develop the greatest battery
option.
Non-renewable energy sources are finite and will eventually run out of supply.
Through complete charge, renewable energy from batteries offers superior energy
storage and regeneration in contrast to internal combustion fuels. As a result, in order to
ensure that the engine runs continually, owners of electric vehicles must constantly
charge the battery. Moreover, a single full charge allows cars powered by lithium
batteries to go 500–600 kilometers.
C. Integration with renewable energy and smart grid systems
Both industrialized and developing nations are increasingly turning to renewable
energy as a major business. Vehicles powered by clean energy are produced all over the
world. In particular, car electrification will be heavily invested in significantly reducing
production costs, promising to open a "smoke-free" future globally.
Renewable energy, also known as clean energy, is generated from nature or certain
natural processes that are continuously formed. These energies will be converted into
electricity to supply all activities in life. Many clean energy sources, including solar
energy, hydrogen fuel, biomass fuel, and a few more sustainable energy sources, are
currently used to create electric vehicles. Additionally, scientists have discovered a
means of storing energy to produce a lithium-ion battery that can be recharged and has
better performance and longevity. Lithium batteries have been developed for more than
ten years and have just recently been used in the construction of electric cars. Up to
now, cars with lithium batteries and hydrogen fuel cells have been selling incredibly
well, dominating the worldwide auto industry.
Power systems around the world are facing significant challenges as a result of the
switch to renewable energy, many of which are ill-prepared to handle power outages
and surges. quantity of renewal. Unlike traditional power grids, smart grids can handle
the intermittent nature of renewable energy. With the right technology in place, with
enough energy storage systems, smart grids can automatically store excess energy when
supply is abundant and release it when demand peaks. Smart grid integration can
deliver major efficiency savings, which is an important step towards reducing our
dependence on fossil fuels and mitigating the climate change impact of the energy
system.
When faced with that circumstance, VinFast decided to take the initiative and
became the first company in Vietnam to manufacture an electric vehicle type powered
by renewable energy. VinFast VF e34 has kept up with the global auto industry's trend
by offering exceptional benefits related to vehicle electrification. With its exceptional
air filtration capabilities and use of lithium-ion battery components, VF e34 efficiently
lowers pollution levels by minimizing emissions into the surrounding air. In addition,
VinFast is working quickly to establish a statewide network of charging stations in
order to supply the optimum energy source for electric vehicles and guarantee that they
can efficiently store and regenerate energy. Not only that, VinFast fulfills the
obligations of an electric vehicle producer, guaranteeing the complete "greening" of the
automotive sector. Consequently, VinFast is developing a plan for recycling electric
vehicle batteries at the end of their useful lives to guarantee that no emissions are
discharged into the atmosphere that could harm human health or the quality of the air.
This provides a strong foundation for VinFast to achieve its global goals, which include
lowering emissions worldwide, establishing "green transportation," and becoming a
well-known high-tech electric car manufacturer on a global scale.
D. Policy and regulatory considerations
1) Government incentives and subsidies
The Government must immediately implement a combination of strong
preferential policies to support manufacturing businesses and encourage consumers to
switch to using electric vehicles if Vietnam wants to develop the electric vehicle
industry. Furthermore, since electric automobiles are high-tech products, the
competition among producers is primarily one of technology. Vietnamese people have
numerous benefits in this area. If it is developed well, it will have a significant and
positive influence on people's lives and improve Vietnam's standing internationally.
The government has currently implemented favorable regulations to encourage the

development of electric vehicles, such as the following: 0% registration fee exemption
for new vehicles (from March 2022 to March 2025); Up until February 28, 2027, the
special consumption tax on electric vehicles is lowered from 15% to 3%.
These policies have contributed to promoting the development of the electric
vehicle industry in Vietnam. However, compared to other countries in the region and
the world, Vietnam still needs more breakthrough policies for clean energy vehicles,
especially electric vehicles.
2) Development of charging infrastructure
In line with global trends in charging technology development, the Ministry of

Transport suggests establishing laws on electric charging stations and charging station
connection standards to facilitate the development of charging station infrastructure.
controlling the installations of electric charging stations in residential neighborhoods,
new construction, and refurbished urban infrastructure.
Simultaneously, it is permissible to construct public charging stations on projects
with the existing land use purpose; no land use purpose modification is required in
order to construct charging stations. When erecting charging stations, evaluate whether
building permits can be waived, modify investment guidelines, and give the
infrastructure supporting public charging stations top priority when it comes to power
supply.
At the same time, the Ministry of Transport proposed investment incentives,
interest rate support for production loans, and imported equipment and components to
build charging station infrastructure, charging towers, especially fast charging towers.
3) Emission standards and regulations
To limit and control the level of environmental pollution, each country has its own
regulations on emission standards, especially for cars. As a developing country with
high levels of air pollution in cities, Vietnam's automobile emission standards are
increasingly tightened with more stringent regulations.
Applying new automobile emissions standards plays an important role in the
environmental protection program and minimizing the negative impacts of climate
change. In particular, in Vietnam, the density of cars participating in traffic is
increasing, so promulgating stricter regulations on emission standards is necessary in
the current situation. Implementing new emission regulations is important not only for
the environment but also for increasing public awareness when driving. At the same
time, this policy is seen as a bridge for current regulations to approach the high
emissions standards of developed countries and encourages automobile manufacturers
in Vietnam to promote the use of technology. Environmentally friendly when
manufacturing and assembling vehicles. Along with the development of car production
technology, Vietnam's automobile emission standards are constantly updated according
to international standards.

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IV.

Challenges and opportunities

A. Range anxiety and limitations of current electric vehicle technology

1) Manufacturing technology is not as complete as gasoline-powered car:

The government has currently implemented favorable regulations to encourage the

In line with global trends in charging technology development, the Ministry of

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