Electric vehicle market in Asia sees contrasting trends

In Vietnam, electric motorcycle sales surged 84.5% in the first five months of 2026, placing the country among the three fastest‑growing two‑wheel EV markets worldwide. The peak buying season for students has driven families to prioritize safety, autonomy and low operating costs. YADEA introduced a "Buy a YADEA – Win an iPhone 17" promotion running until 30 September 2026, offering up to VND 10 million in trade‑in subsidies and features such as GPS tracking, electronic fences and Bluetooth‑enabled smart displays.

In China, the world’s largest electric‑car market recorded a 14% year‑on‑year decline in new EV sales by July 2026, with 4.7 million units sold. Leading manufacturers BYD, Geely, Xpeng and Nio all posted lower volumes despite modest month‑to‑month improvements. The slowdown is linked to reduced government subsidies – cut from 15,000 CNY to 10,000 CNY per vehicle – and the weakest GDP growth since late 2022, prompting analysts to forecast a further 10% drop in annual sales.