Honda ICON e: Price drastically reduced to 15 million VND to compete in the mainstream electric motorcycle segment.
Honda Vietnam is offering a VND 5 million discount on the ICON e: model, bringing the actual selling price down to a record low of VND 15.5 million, in order to increase competitiveness in the mainstream electric vehicle segment.
Honda's ICON e: electric scooter is recording a record low price since its launch in the Vietnamese market. In the second half of May, the Japanese automaker implemented a promotional program offering a direct discount of 5 million VND, bringing the actual selling price of this model down to around 15 million VND.
The selling price has dropped by almost half compared to the launch price.
Following the retail price adjustment in early April to 20.5–20.9 million VND (including 8% VAT), Honda continues to launch a promotional program worth 5 million VND, valid from May 15th to July 31st. Thanks to this program, the actual selling price of the Honda ICON e: currently ranges from 15.5 to 15.9 million VND.
Compared to the initial launch price of 26.9–27.3 million VND, the price has now dropped by almost half. Notably, prices around 15 million VND were seen at some dealerships (HEADs) at the end of 2025 thanks to a combination of dealership-specific promotions and manufacturer programs.
Competitive pressure and the battery cost challenge.
At its new price point, the ICON e: is directly competitive with rivals like the VinFast Flazz (16 million VND) or the Yadea Vekoo (15 million VND). However, there is an important difference in pricing structure that consumers should be aware of:
| Car model | Actual selling price (Million VND) | Battery status |
|---|---|---|
| Honda ICON e: | 15.5 – 15.9 | Batteries not included. |
| VinFast Flazz | 16 | Batteries included. |
| Yadea Vekoo | 15 | Batteries included. |
For the Honda ICON e:, buyers can choose to purchase the battery with the scooter for approximately 8.8 million VND, or buy it separately for 12.2 million VND. Alternatively, customers can opt for a battery rental option at a cost of over 245,000 VND per month.
Honda's roadmap for expanding its electric vehicle product range.
The ICON e: is currently Honda's most affordable domestically assembled electric motorcycle in Vietnam, available in three versions: Premium, Special, and Sport. In addition, the company's electric vehicle lineup also includes the e: CUV, priced at 44.2 million VND (without battery) and 63.8 million VND (with battery).
Another model, the UC3, has not yet had its official price announced, but some dealerships have already started accepting pre-orders with an estimated price of around 58-60 million VND and delivery scheduled for the end of June. Honda expects to begin assembling the UC3 domestically from the end of 2026.
Market share acquisition strategy starting in 2026
Despite holding a 65% market share of gasoline-powered motorcycles in Vietnam with sales of approximately 2.16 million units in 2025, Honda has had a relatively slow start in the electric vehicle segment. According to data from Nikkei Asia, the company's market share in this segment is only 1.4%, equivalent to nearly 10,000 units sold.
To improve its position, Honda aims to aggressively boost its electric motorcycle business starting in 2026. In early 2027, the company will introduce two more entry-level electric motorcycle models specifically for the Vietnamese market, positioned in a lower segment than the ICON e:.
In terms of infrastructure, Honda plans to build a system of battery swapping and charging stations at authorized HEAD dealerships, starting with major cities. Simultaneously, the company will collaborate with third parties to expand the charging station network in public locations in the future.