Vingroup enters carbon credit market for electric motorcycles, charging stations

Vietnam’s largest private conglomerate Vingroup is implementing two carbon credit projects for electric motorcycles and charging stations, with the charging station project alone expected to reduce up to 3.5 million tons of CO2 per year.

The two projects were announced by Vingroup for stakeholder consultation on Monday.

The VinFast electric motorcycle carbon credit project is registered under the Gold Standard for the Global Goals (GS4GG), while the V-Green charging station project follows Verra’s Verified Carbon Standard (VCS). These are among the most widely recognized international carbon credit standards.

Regarding charging infrastructure, Vingroup, founded by billionaire Pham Nhat Vuong, aims to develop approximately 6,000 EV charging stations with 620,000 charging ports by 2029. The project development period is from April 2024, with chargers having a lifespan of 10-15 years.

The project operates with the participation of local communities and partners through cooperation and franchising models.

Vingroup noted that ownership of carbon credits belongs to the company for franchised charging stations included in the project. Replacing fossil fuels with electricity, which has a lower emission factor, is expected to help reduce 3.5 million tons of CO2 annually.

A carbon credit is a tradable permit or certificate that has commercial value and grants the holder the right to emit one ton of CO2 or another greenhouse gas.

According to statistics from the Carbon Credits exchange, carbon credit prices in the voluntary market in 2025 range from $4 to $6 per credit. If sold within this price range, Vingroup could earn $14-21 million.

For the electric motorcycle carbon credit project, Vingroup will collect data and monitor the number of vehicles sold, distances traveled, and corresponding emission reductions. The project is currently in the stakeholder consultation phase, a mandatory step in the carbon credit project registration process. It is expected to last five years, with the possibility of two extensions.

Prior to Vingroup, Selex Motors successfully registered a small-scale electric motorcycle carbon credit project under the Gold Standard. The project sells credits over five years, with a total estimated emission reduction of more than 197,000 tons of CO2.

VinFast, the EV maker under Vingroup, on Monday announced that it sold a total of 406,453 electric motorbikes of all types in the Vietnamese market in 2025, up 473% from 2024, officially securing the number one market share in Vietnam’s electric motorbike segment.

At the beginning of 2026, VinFast launched four new electric motorbike models, including three battery-swapping models - Evo, Feliz II, and Viper - and Amio, a pedal-assisted model designed for students.

Accompanying this launch, 4,500 battery-swapping stations have already been installed, with plans to complete 45,000 battery-swapping cabinets by Q1/2026.

Vietnam plans to officially operate a carbon market by 2029 as an important step towards reducing greenhouse gas emissions and achieving the goal of net-zero emissions by 2050.

Under the Prime Minister’s Decision No. 232/QD-TTg dated January 24, 2026, approving the scheme for the establishment and development of the carbon market in Vietnam, the carbon market will trade two main types of goods: greenhouse gas emission quotas and carbon credits.

The greenhouse gas emission quotas will be allocated to large emitting sectors and facilities, including those that must report greenhouse gas emissions according to the government's regulations. They can be allocated either for free or through auctions.

Meanwhile, carbon credits are validated for trading on the carbon market. They can be earned from domestic or international programs and projects, including the Clean Development Mechanism (CDM), Joint Crediting Mechanism (JCM), and mechanisms under Article 6 of the Paris Agreement.