VinFast has selected Los Angeles as its US headquarters and recently shared plans to begin manufacturing in the U.S. in 2024. VinFast is the automotive manufacturing subsidiary of VinGroup, a Vietnamese conglomerate that develops everything from real estate to technology and healthcare. The VinFast subsidiary was founded in 2017.
VinFast is working to deliver its flagship EV, the VF e34, later this year in Vietnam. When that happens, it will be the first-ever EV sold in the entire Vietnamese market.
Last month, we reported that VinFast was ambitiously entering markets overseas, beginning with the US, Canada, and Europe at the same time.
The two new VinFast EVs integrate ADAS with driver monitoring, fully-automated parking, and summoning, plus smart infotainment features like voice and virtual assistant.
More details are expected when VinFast begins accepting EV pre-orders in the first half of 2022, ahead of production late next year.
Source: Electrek
PSR Analysis: VinFast’s name recognition is gradually penetrating the market, according to recent reports. They have already made huge investments and continue to make significant efforts to gain a presence in the global market. The Europeanlike interior and exterior design of the flagship VF e36 is designed by Pininfarina, and the design that has been the weak point of Asian automakers until now has been overcome by VinFast.
The global trend toward electrification has increased the potential of previously unrecognized manufacturers. Who would have known 10 years ago that TESLA would become the giant it is today, and it is possible that VinFast could become another TESLA.
VinFast’s breakthrough is a great example of how new entrants to the manufacturing industry have great growth potential. PSR
Akihiro Komuro is Research Analyst, Far East and Southeast Asia, for Power Systems Research
