VinFast Auto Ltd., a subsidiary of Vingroup, is Vietnam's first major automaker and a prominent player in the global electric vehicle (EV) market. Founded in 2017, VinFast is part of Vingroup's ambitious vision to transform Vietnam into a hub of advanced manufacturing and technological innovation. The company rapidly expanded its production capabilities, establishing a state-of-the-art manufacturing complex in Hai Phong, Vietnam. This facility, which is among the largest in Southeast Asia, underscores VinFast's commitment to high-quality production standards and its readiness to compete on the international stage.
VinFast's initial product lineup included gasoline-powered cars, electric scooters, and electric buses. However, the company quickly pivoted to focus on electric vehicles, recognizing the global shift towards sustainable transportation. In 2021, VinFast launched its first electric vehicle models, the VF e34 and VF 8, which received positive attention for their design, features, and affordability. These models are equipped with advanced driver-assistance systems, robust safety features, and a competitive range, appealing to both domestic and international markets.
A key aspect of VinFast's strategy is its commitment to research and development (R&D). The company has established R&D centers in various locations, including Vietnam, Germany, and the United States, to leverage global expertise and foster innovation. VinFast collaborates with leading technology companies and automotive suppliers to integrate the latest advancements into its vehicles. This focus on R&D enables VinFast to stay at the forefront of EV technology, offering consumers cutting-edge products that meet the highest standards of quality and performance.
VinFast has also made significant strides in expanding its global presence. The company has announced plans to build manufacturing plants in the United States and Europe, aiming to cater to these key markets directly. Additionally, VinFast has set up a comprehensive distribution network and service centers to ensure a seamless customer experience. This global expansion is crucial for VinFast's goal of becoming a major player in the EV industry, as it seeks to compete with established brands like Tesla, BYD, and NIO.