Selex Motors, a pioneer in electric motorcycle industry and carbon credits for electric vehicles

At COP26, Vietnam was committed to achieving Net-Zero by 2050. According to the NDC 2022, Vietnam increased its unconditional emission reduction target for 2030 from 9% to 15.8% and its conditional target from 27% to 43.5%. The transport sector needs to reduce about 19.3 million tonnes of CO2eq by 2030 compared to the business-as-usual scenario through various measures including converting to vehicles using green fuel and electricity.

An electric vehicle factory

To contribute to Vietnam's efforts, the United Nations Development Programme (UNDP) sponsors and coordinates with Selex Smart Electric Vehicle JSC (Selex Motors) and PoA Carbon Management JSC (PoA Carbon), piloted the “Selex Smart Electric Vehicle Project,” developing carbon credits for electric motorcycles according to the Gold Standard to reduce greenhouse gas (GHG) emissions and contribute to climate change mitigation. Mr. Dao Xuan Lai, Head of Climate Change and Environment at UNDP Vietnam, stated that this is the first carbon credit project for electric motorbikes in Vietnam, with electric motorbikes produced by Selex Motors.

Electric vehicles are an inevitable trend to reduce carbon emissions

Selex Motors was founded in 2018, with the goal of promoting sustainable development through smart electric vehicles. The company focuses on building a comprehensive ecosystem for electric motorbikes, solving the problems of charging time and high costs. Selex Motor provides electric motorbike models mainly for transportation purposes, with partners such as Grab, Gojek, Lazada, etc.

Consulting the community on vehicles using green fuel and electric vehicles

With UNDP support, the project is in the process of being registered under the Gold Standard mechanism and aims to communicate emissions reduction results in accordance with Article 6.2 of the Paris Agreement. The project is deployed in Hanoi and Ho Chi Minh City with about 90,000 vehicles, including Camel 1, Camel 2, S1, S4, and S5 models, expected to reduce about 43,000 tCO2eq/year in the period 2024 to 2028. PoA Carbon representative said that the project has completed the Preliminary Review round of the Gold Standard on 15/06/2024 and is expected to be registered in September 2024.