Made-in-Vietnam electric vehicles “special” in international markets

Presence in all five continents

More than five months after the first batch exported to the US, the second batch of 1,879 VF8 electric cars was exported to the US and Canada in April 2023. In the US market, VinFast has signed with the first five dealers in four states to offer the US customers opportunity to experience its vehicles. To date, VinFast dealership network has covered eight big states of the US.

Vietnamese branded electric vehicles have also been present in many European markets, such as Germany, France, the Netherlands; Southeast Asian markets like Thailand, the Philippines, Indonesia; India and the Middle East... VinFast has opened more than 30 stores and service workshops in the US, Canada, Germany, France, the Netherlands, ready to sell Vietnamese electric vehicles there.

At the end of May 2024, VinFast launched its brand in the capital of Manila of the Philippines, and signed contracts with the first four dealers in Manila and Iloilo, selling VF5, VFe34, VF7 and VF9 models. The first cars are expected to be delivered to Philippine customers from the 3rd quarter of this year.

The Philippines becomes the third Southeast Asian market that VinFast has entered in the first half of 2024, following Indonesia and Thailand. Most recently, on September 17, 2024, VinFast Auto officially opened pre-orders for the VF3 cars in the Philippines, marking the first time VinFast has launched its stylish mini electric SUV in an international market.

Previously, in March 2024, VinFast marked its presence in Africa through distribution deals of electric vehicles in Ghana and the Western African region in general.

Although Vinfast only started manufacturing cars more than five years ago, it is now competing with giants like Tesla or Hyundai by entering the US market, while also penetrating potential markets like India and Indonesia.

Building factories in key markets

Not only exporting electric vehicles, VinFast has also built factories in many countries to affirm its brand in the international market, for example, a factory constructed in the US North Carolina state in July 2023, with an expected capacity of 150,000 units per year; an integrated electric vehicle factory in Thoothukudi, southern Tamil Nadu, India breaking ground in February 2024, with the initial investment of US$500 million in five years, and expected capacity of 150,000 units per year.

In July 2024, VinFast broke ground on the electric vehicle assembly plant project in Subang, West Java, Indonesia with an investment capital of US$200 million, at the capacity of 50,000 units per year. The factory is expected to be operational from the 4th quarter of 2025.

In a recent interview with Bloomberg on the occasion of the 5th anniversary of the VinFast automobile factory inauguration, Chairman of Vingroup Pham Nhat Vuong affirmed, “The strong promotion of VinFast is to lift Vietnam’s manufacturing industry to the international level because it is not only a business, but also a dedication project. VinFast does not produce cheap cars, but good cars at reasonable prices."