VinFast#Concepts

{{Short description|Vietnamese automotive company}}

{{Expand language|topic=transp|langcode=vi|otherarticle=VinFast|date=June 2019}}

{{Use Singapore English|date=July 2022}}

{{Use dmy dates|date=June 2019}}

{{Infobox company

| name = VinFast Auto Ltd.

| logo = Logo of VinFast (3D Banner).svg

| logo_size =

| image = Đại lý Ô tô VinFast Nam Định 001.jpg

| image_size =

| image_caption = A VinFast dealership in Nam Định, Vietnam

| native_name =

| type = Public

| traded_as = {{NASDAQ|VFS}}

| industry = Automotive

| predecessor =

| successor =

| founded = {{start date and age|df=yes|2017|6}}

| founder = Pham Nhat Vuong

| defunct =

| hq_location = Đình Vũ – Cát Hải Economic Zone, Haiphong, Vietnam{{Cite web |title=Form 8-A12B |url=https://www.sec.gov/Archives/edgar/data/1913510/000119312523212288/d487206d8a12b.htm |access-date=2023-08-15 |website=www.sec.gov}}

| area_served = Worldwide

| key_people = {{Unbulleted list

| Pham Nhat Vuong (CEO)

| Le Thi Thu Thuy (chair) |

Nguyen Thi Lan Anh (CFO)

}}

| products = Automobiles
Motorcycles
Commercial vehicles{{cite web|url=http://vingroup.net/en-us/news-events/news-events/heavy-industry/vinfast-looks-for-electric-motorcycle-distributors-3281.aspx|title=VinFast looks for electric motorcycle distributors|work=VNS|publisher=VinGroup|date=24 July 2018|access-date=25 October 2018}}

| revenue = {{increase}} {{US$|1.150 billion|link=yes}} (2023){{cite web|url=https://www.nasdaq.com/market-activity/stocks/vfs/financials|title=VinFast Auto Ltd. Ordinary Shares (VFS) Financials|publisher=Nasdaq|date=31 December 2023|access-date=6 July 2024}}

| operating_income = {{increasenegative}} {{US$|-1.667 billion}} (2023)

| net_income = {{increasenegative}} {{US$|-2.366 billion}} (2023)

| assets = {{increase}} {{US$|5.487 billion}} (2023)

| num_employees = 13,953 (2023)

| parent = Vingroup

| website = {{URL|https://vinfast.com}}

}}

VinFast Auto Ltd. is a Vietnamese multinational automotive company{{cite news | title=Vietnam EV maker VinFast to shift legal HQ to Singapore ahead of first exports | url=https://www.reuters.com/business/autos-transportation/vietnam-ev-maker-vinfast-shift-hq-singapore-ahead-ipo-first-exports-2022-05-24/ | website=Reuters | date=24 May 2022 | access-date=15 August 2023 | last1=Nguyen | first1=Phuong | last2=Krolicki | first2=Kevin | last3=Krolicki | first3=Kevin}} founded by Vingroup, one of the largest private conglomerates in Vietnam that was founded by Pham Nhat Vuong.{{cite web|url=https://www.mondial-paris.com/en/visiteur/exposant/285/vinfast|title=Constructeur|publisher=Paris Motor Show|access-date=25 October 2018|archive-date=3 April 2020|archive-url=https://web.archive.org/web/20200403133939/https://www.mondial-paris.com/en/visiteur/exposant/285/vinfast|url-status=dead}}{{cite web|url=http://www.autonews.fr/mondial-auto-2018/vinfast-mondial-auto-suv-sedan-concept-photos-82028|title=Vinfast: L'énigmatique marque vietnamienne sera au Mondial|trans-title=Vinfast: The enigmatic Vietnamese brand will be at the World|author=Lucas Raheriarivony|language=fr|publisher=Auto News|date=10 September 2018|access-date=25 October 2018}}{{cite web|url=https://www.leprogres.fr/lifestyle/2018/09/11/les-grands-debuts-du-constructeur-vietnamien-vinfast-au-mondial-de-paris-2018|title=Le constructeur vietnamien VinFast dévoile ses deux premiers modèles de voitures|trans-title=Vietnamese manufacturer VinFast unveils first two car models|language=fr|publisher=Le Progrès|date=1 September 2018|access-date=25 October 2018}}

Established in 2017 in Haiphong, it is the first Vietnamese car brand to expand into global markets as well as the first to expand into producing electric vehicles (EV) such as electric cars and electric scooters.{{Cite web|last=VnExpress|title=VinFast eyes global market, to open car plant in US – VnExpress International|url=https://e.vnexpress.net/news/business/companies/vinfast-eyes-global-market-to-open-car-plant-in-us-4242502.html|access-date=2021-03-13|website=VnExpress International – Latest news, business, travel and analysis from Vietnam|language=en}}

History

VinFast was founded in 2017 by Vingroup.

VinFast broke ground in September 2017 on an {{convert|828|acre|m2|adj=on}} facility in an industrial park located on Cat Hai Island near the city of Hai Phong. The factory with paint shop, press shop, assembly shop and engine shop was built in just 21 months.{{Cite web|url=https://new.siemens.com/global/en/markets/automotive-manufacturing/references/vinfast.html|title=A fully digital automotive factory|website=Siemens}}

During the launch of the first phase of development in 2018, the company reported an initial investment of US$1.5 billion to manufacture cars and electric motorbikes at a greenfield factory.{{Cite web |title=Vietnam Manufacturing Facility {{!}} VinFast |url=https://vinfastauto.us/newsroom/press-kit/vietnam-manufacturing-facility |access-date=2025-01-30 |website=vinfastauto.us |language=en}} The company claimed that it has aggregated talent from multiple established companies and is sourcing European design, engineering, and production technology partners. The first two vehicles that were shown at Paris motorshow in the fall of 2018 are the LUX A2.0 and the LUX SA 2.0, designed by Pininfarina and Italdesign Giugiaro.{{Cite web|url=https://www.conceptcarz.com/z28901/vinfast-lux-a20.aspx|title=Vinfast Lux A2.0 & SA2.0 Informations|date=2018}}

Previously, in July 2017, all the designs of VinFast's first cars were posted on the website and VinFast asked Vietnamese consumers to vote for which design they liked the most. There were more than 60,000 votes for 20 sketches from four of the world's best auto design studios - Italdesign Giugiaro, Pinifarina, Torino Design and Zagato.{{Cite web |last=Banzon |first=Sharleen |date=October 2, 2018 |title=Vietnamese carmaker VinFast has revealed the names of its debut models |url=https://www.topgear.com.ph/news/car-news/vietnamese-vinfast-revealed-names-debut-models-a2578-20181002 |access-date=2025-01-30 |website=TopGear |language=en}} Lux A2.0 and Lux SA 2.0 are the results of the vote.{{Cite web|url=https://www.netcarshow.com/vinfast/2020-lux_a2.0_sedan/|title=Vinfast Lux A 2.0|website=Netcarshow.com|date=2020}}

In 2018, General Motors announced its partnership between the company and VinFast. VinFast will have exclusive rights to distribute the Chevrolet brand in Vietnam and will take ownership of the existing General Motors (GM Korea) factory in Hanoi (VIDAMCO). That factory will then build a GM-licensed "all-new global small car" to be sold under the VinFast name.{{cite web|url=https://www.ft.com/content/a8da1eb4-7aa9-11e8-bc55-50daf11b720d|title=GM forms partnership with Vietnam's VinFast|publisher=Financial Times|date=28 June 2018|access-date=25 October 2018}} {{subscription required}}

VinFast signed two contracts with Siemens Vietnam, a unit of Siemens, for the supply of technology and components to manufacture electric buses in Southeast Asian countries in August 2018.{{cite web|url=https://www.reuters.com/article/us-siemens-vingroup-automobile/vietnams-vinfast-in-deal-with-siemens-for-technology-to-make-electric-buses-idUSKBN1KY09W|title=Vietnam's Vinfast in deal with Siemens for technology to make electric buses|author1=Khanh Vu|author2=Himani Sarkar|publisher=Reuters|date=13 August 2018|access-date=25 October 2018}} On 21 March 2019, it sent the first batch of 155 VinFast Lux cars, 113 completed vehicles and 42 semi-finished cars, abroad in Europe, Asia, Australia and Africa to conduct field tests for quality testing and to qualify for a 5-star ASEAN NCAP rating.{{Cite web|url=http://bizhub.vn/wheels/vinfast-tests-its-first-155-lux-cars-abroad_304128.html|title=VinFast tests its first 155 LUX cars abroad|website=Việt Nam News}}

The company was to have been the title sponsor of the inaugural edition of the Formula One Vietnamese Grand Prix, which was slated to take place during the {{F1|2020}} season - the race was subsequently cancelled due to COVID-19 pandemic.{{Cite web|url=http://www.pitpass.com/65978/VinFast-to-be-title-sponsor-of-Vietnam-Grand-Prix|title=VinFast to be title sponsor of Vietnam Grand Prix|date=15 October 2019|website=Pitpass}} In Q1 2020, VinFast was the fifth best-selling car brand in Vietnam.{{Cite web|url=https://e.vnexpress.net/news/business/companies/auto-newbie-vinfast-zooms-to-fifth-place-in-sales-4090698.html|title=Auto newbie VinFast zooms to fifth place in sales – VnExpress International|website=VnExpress International}}

On 25 February 2020, it was reported that VinFast vehicles were spotted in South Africa for field tests at Kakamas in the Northern Cape Province and in Cape Town.{{Cite web|url=https://www.news24.com/wheels/newmodels/spotted-vietnamese-car-maker-vinfast-tests-new-suv-in-sa-20200225|title=SPOTTED {{pipe}} Vietnamese carmaker VinFast tests new SUV in SA|first=Sean|last=Parker|website=Wheels}} On September 20, the company announced a loss of VND 6.6 trillion ($284 million) in the first half of the year.{{Cite web|url=https://e.vnexpress.net/news/business/companies/carmaker-vinfast-posts-284-mln-loss-4159430.html|title=Carmaker VinFast posts $284 mln loss – VnExpress International|website=VnExpress International – Latest news, business, travel and analysis from Vietnam}}

In December 2020, VinFast released preliminary images of a pickup truck being developed weeks after the Lang Lang testing centre was purchased.{{Cite web|url=https://www.stuff.co.nz/motoring/123722877/vietnams-vinfast-working-on-a-doublecab-ute|title=Vietnam's Vinfast working on a double-cab ute|date=16 December 2020|website=Stuff}} Other vehicles in development included a three-door hatchback, two different coupe-type SUVs, a small SUV, a four-door coupe, a couple of people movers and electric scooters. According to the Intellectual Property Office of Vietnam, the patents for these vehicles are set to expire on 14 January 2024.{{Cite web|url=https://vovworld.vn/en-US/content/ODE0MTA0.vov|title=Vinfast to manufacture pick-up trucks|date=11 December 2020|website=THE VOICE OF VIETNAM}}

On 27 July 2021, parent Vingroup announced that Michael Lohscheller, the CEO of Opel, had been appointed CEO of VinFast Global.{{Cite web|title=Michael Lohscheller Appointed New CEO of VinFast Global|url=http://vietnamnews.vn/media-outreach/998337/michael-lohscheller-appointed-new-ceo-of-vinfast-global.html|access-date=2022-02-12|website=vietnamnews.vn|language=en}} Five months later, on December 27, it was announced that Lohscheller had resigned the position.{{Cite web|date=2021-12-27|title=Ex-Opel chief Lohscheller steps down as CEO of VinFast|url=https://europe.autonews.com/move/ex-opel-chief-lohscheller-steps-down-ceo-vinfast|access-date=2022-02-12|website=Automotive News Europe|language=en}}

On 30 September 2021, VinFast reported that Cerence software will be used for its electric vehicles as an intelligence voice assistant.{{Cite web|url=https://www.biometricupdate.com/202109/biometrics-to-replace-car-keys-for-genesis-vehicle-cerence-voice-control-deployed-by-vinfast|title = Biometrics to replace car keys for Genesis vehicle, Cerence voice control deployed by VinFast {{pipe}} Biometric Update|date = 30 September 2021}} On 25 December, it delivered the first batch of 100 VF e34 electric crossovers to Vietnamese customers at VinFast's manufacturing complex in Hai Phong. The VF e34 marks VinFast's first EV model and the first ever electric vehicle to be manufactured and sold in Vietnam.{{Cite web|last=Doll|first=Scooter|date=2021-12-28|title=VinFast delivers first ever Vietnamese EVs to local customers|url=https://electrek.co/2021/12/28/vinfast-delivers-first-ever-vietnamese-evs-to-local-customers/|access-date=2022-01-16|website=Electrek|language=en-US}}

According to Reuters, VinFast had only made 7,400 car sales in 2022, all of which occurred in Vietnam.{{Cite web | last=Gilboy | first=James | date=2023-08-16 | title=Vinfast Isn't Worth $85 Billion, You Dorks | url=https://www.thedrive.com/news/vinfast-isnt-worth-85-billion-you-dorks | access-date=2023-08-17 | website=The Drive | language=en}} The company however has set itself a target of 50,000 car sales globally for 2023.{{Cite web | date=2023-08-16 | title=Vinfast Isn't Worth $85 Billion, You Dorks | url=https://finance.yahoo.com/news/vinfast-isn-t-worth-85-220000535.html | access-date=2023-08-17 | website=Yahoo Finance | language=en}} They missed the goal but delivered close to 35,000 electric cars in 2023.{{cite web | last1=Mark | first1=Kane | title=VinFast Delivers Record Number Of EVs In Q4, But Misses 2023 Target | url=https://insideevs.com/news/705323/vinfast-ev-deliveries-2023q4/ | website=InsideEVs | access-date=10 February 2024}} Their Chairwoman, Le Thi Thu Thuy, projected sales of 40,000 - 50,000 vehicles in 2024.{{cite web | title=Momentum of electric vehicle sales will continue, says Vietnam's VinFast | url=https://www.cnbc.com/video/2024/02/08/momentum-of-ev-sales-will-continue-says-vietnams-vinfast.html | website=The CNBC Conversation |publisher=CNBC | access-date=10 February 2024}}

On 6 January 2022, reports emerged that VinFast plans to build new EV plants in Germany and the United States as part of the company's plans to retire production of gas-powered vehicles and transition fully to EVs by late 2022.{{Cite web|date=2022-01-06|title=VinFast supercharges global EV ambitions, with plans for factories in the US, Germany|url=https://kr-asia.com/vinfast-supercharges-global-ev-ambitions-with-plans-for-factories-in-the-us-germany|access-date=2022-01-11|website=KrASIA|language=en}}

In November 2024, Vingroup JSC, the parent company for VinFast, pledged to loan VinFast as much as $1.38 billion to help the company break even by the end of 2026.{{Cite news | date=2024-11-12 | title=VinFast Tycoon to Inject $2 Billion Into Struggling EV Maker | url=https://www.bloomberg.com/news/articles/2024-11-12/vinfast-tycoon-to-inject-2-billion-into-struggling-ev-maker | access-date=2024-11-12 | work=Bloomberg.com | language=en}} Pham Nhat Vuong also pledged an additional $1.97 billion, according to a company statement.{{Cite web | date=November 12, 2024 | title="Loss-Making EV Firm VinFast to Get $3.4 Billion More Funding From Founder, Parent Company" | url=https://money.usnews.com/investing/news/articles/2024-11-12/loss-making-ev-firm-vinfast-to-get-3-4-billion-more-funding-from-founder-parent-company | access-date=12 November 2024 | website=US News}}

= Move to Singapore, efforts to go public =

VinFast appeared to making its first efforts to become a public company in early 2021. Sources told Reuters that the automaker planned to merge with a special-purpose acquisition company (SPAC) in the United States.{{Cite web|date=2021-04-30|title=Vietnam's answer to Tesla has U.S. in its electric sights|url=https://www.reuters.com/business/autos-transportation/vietnams-answer-tesla-has-us-its-electric-sights-2021-04-30/|access-date=2021-05-01|website=Reuters}} On 28 May 2021, the plan was put on hold due to SPAC scrutiny.{{Cite web|url=https://vir.com.vn/us-ipo-of-vinfast-could-be-delayed-due-to-scrutiny-over-spac-84494.html|title=US IPO of VinFast could be delayed due to scrutiny over SPAC|date=28 May 2021|website=Vietnam Investment Review}}

VinFast announced on 7 April 2022 that it planned an initial public offering (IPO) through a Singapore-based holding company.{{Cite news |title=Vietnamese automaker VinFast files for U.S. IPO to fund expansion |newspaper=Reuters|date=8 April 2022|url=https://www.reuters.com/business/autos-transportation/vietnamese-automaker-vinfast-files-us-ipo-2022-04-07/|last1=Nguyen|first1=Phuong}} A few weeks later on 24 May 2022, VinFast announced that it would be moving its headquarters to Singapore, with the company stating that "We feel that Singapore is a jurisdiction that will give investors more confidence."{{cite web |last1=Nguyen |first1=Phuong |last2=Krolicki |first2=Kevin |title=Vietnam EV maker VinFast to shift HQ to Singapore ahead of IPO, first exports |url=https://www.reuters.com/business/autos-transportation/vietnam-ev-maker-vinfast-shift-hq-singapore-ahead-ipo-first-exports-2022-05-24/ |website=Reuters |access-date=24 May 2022 |language=en |date=24 May 2022}} Singapore will be its legal and financial headquarters while Vietnam remains its operational headquarters. However, at the same time, the company said it would again put its plans to go public on hold.{{cite web | url=https://www.channelnewsasia.com/business/vietnam-ev-maker-vinfast-shift-hq-singapore-ahead-ipo-2703691 | title=Vietnam EV maker VinFast to shift legal HQ to Singapore ahead of first exports }}

VinFast announced in July 2023 that it was planning to merge with a SPAC operated by Black Spade Capital. The move allows the company to avoid the process of issuing an IPO. The transaction, valued at $23 billion, was completed on 14 August 2023, and the company finally went public on the US-based Nasdaq exchange on 15 August 2023.{{cite news|url=https://www.newsobserver.com/news/business/article277930568.html|title=You will soon be able to buy VinFast stock. But it's taking a different path to market.|last=Gordon|first=Brian|work=News and Observer|date=9 August 2023}}{{cite news|url=https://journalnow.com/news/local/business/development/vinfast-merger-gains-shareholder-approval-stock-to-begin-trading-tuesday/article_45f53310-37af-11ee-855c-07a94be4bc78.html|title=VinFast merger gains shareholder approval; stock to begin trading Tuesday|last=Craver|first=Richard|work=Winston-Salem Journal|date=10 August 2023}}{{Cite web | last1=Rosevear | first1=Sheila | last2=Chiang | first2=John | date=2023-08-15 | title=Vietnamese EV maker VinFast debuts on the Nasdaq after completing SPAC merger | url=https://www.cnbc.com/2023/08/15/vinfast-completes-spac-merger-set-to-start-trading-on-nasdaq.html | access-date=2023-08-15 | website=CNBC | language=en}}{{cite web | url=https://www.ldrcar.com/2023/08/vinfast-commences-trading-on-nasdaq.html | title= VinFast Commences Trading on Nasdaq with Ticker Symbols "VFS" and "VFSWW" on August 15th}}

= Overseas operations =

File:Vinfast dealership in Colma.jpg, United States]]

On 31 July 2018, VinFast GmbH was established in Frankfurt, Germany.{{Cite web|url=https://e.vnexpress.net/news/business/companies/vinfast-german-subsidiary-gets-license-korea-china-next-3785562.html|title=VinFast German subsidiary gets license, Korea, China next – VnExpress International|website=VnExpress International – Latest news, business, travel and analysis from Vietnam}} The office is in charge of distributing auto parts and other related services. On the same day it was announced that VinFast would set up branch offices in Shanghai, China, and Seoul, South Korea.

In February 2020, ex-Holden engineers were being recruited by VinFast in Port Melbourne, making Australia the second overseas country to have a branch after the company moved in December 2019.{{Cite web|url=https://paultan.org/2020/02/28/vietnams-vinfast-enters-australia-eyes-holden-assets/|title=Vietnam's VinFast enters Australia, eyes Holden assets – paultan.org|date=28 February 2020}}{{Cite web|url=https://www.carsales.com.au/editorial/details/holden-targeted-by-vietnamese-start-up-123036/|title=Holden targeted by Vietnamese start-up|date=25 February 2020}} The branch, known as VinFast Engineering Australia, is staffed by ex-Ford, Holden and Toyota employees{{Cite web|url=https://www.whichcar.com.au/news/holdens-sacked-workers-could-be-saved-by-vinfast|title=Holden's sacked workers could be saved by VinFast|website=WhichCar|date=10 March 2020 }} and opened on 12 June 2020.{{Cite web|url=http://vingroup.net/en/news/detail/2196/grand-opening-of-vinfasts-office-in-australia|title=GRAND OPENING OF VINFAST'S OFFICE IN AUSTRALIA|website=VinGroup}} On 6 May 2021, the Port Melbourne office was announced to be closed due to the COVID-19 pandemic temporarily.{{Cite web|url=https://www.caradvice.com.au/950750/vinfast-closing-port-melbourne-design-and-engineering-office-former-holden-test-track-safe-say-industry-insiders/|title=VinFast closing Port Melbourne design and engineering office, but former Holden test track safe - Drive}} The Lang Lang test track appeared to be unaffected by the closure,{{Cite web|url=https://vir.com.vn/vinfast-to-temporarily-close-australian-rd-division-due-to-covid-19-84107.html|title=VinFast to temporarily close Australian R&D division due to COVID-19|date=9 May 2021|website=Vietnam Investment Review}} but on October that year, VinFast announced the sale of the proving ground, although it has not found a buyer as of 2024.{{cite web |title=Holden test track for sale again for second time |url=https://www.drive.com.au/news/holden-test-track-for-sale-again-for-second-time-in-12-months-agent-cbre-confirms/ |website=Drive.com.au|date=October 25, 2021}}

On 29 March 2022, VinFast announced it would locate its first North American auto plant in Chatham County, North Carolina.{{Cite web | date=2022-03-29 | title=What the $4B VinFast plant means for the Triangle – and the state {{!}} WRAL TechWire | url=https://wraltechwire.com/2022/03/29/what-the-4b-vinfast-plant-means-for-the-triangle-and-the-state/ | access-date=2022-04-04 | website=wraltechwire.com | language=en-US}} The auto manufacturer will create 7,500 jobs.{{cite web |title=Governor Cooper Announces VinFast Automotive Selects North Carolina for Electric Vehicle Assembly Plant | url=https://governor.nc.gov/news/press-releases/2022/03/29/governor-cooper-announces-vinfast-automotive-selects-north-carolina-electric-vehicle-assembly-plant | website=governor.nc.gov | access-date=12 November 2022 | language=en}} In July 2023, the company broke ground at its electric vehicle manufacturing site, located within the Triangle Innovation Point in Chatham County, North Carolina.{{cite web

| url = https://vinfastauto.com/vn_en/vinfast-breaks-ground-at-north-carolina-electric-vehicle-facility

| title = VINFAST BREAKS GROUND AT NORTH CAROLINA ELECTRIC VEHICLE FACILITY

| last = Đức Anh

| first = Nguyễn

| date = 2023-07-29

| website =

| publisher = VF

| access-date = 2023-08-01

| quote =

}}<

= Export plans =

In April 2019, VinFast reported that the Lux SA2.0 and Sedan Lux A2.0 were the first two models introduced to Russia at the end of 2018.{{Cite web|url=https://www.vir.com.vn/vinfast-automobiles-to-be-sold-in-russia-66913.html|title=VinFast automobiles to be sold in Russia|date=8 April 2019|website=Vietnam Investment Review}} According to Auto.Vesti, the models are expected to be sold throughout Russia by the end of 2020. Vuong mentioned that electric vehicles will be sold in the country after 2021.{{Cite web|url=https://paultan.org/2019/12/16/vinfast-aiming-to-sell-electric-vehicles-in-the-us-europe-russia-by-2021-founder-to-invest-us2-bil/|title=VinFast aiming to sell electric vehicles in the US, Europe, Russia by 2021 – founder to invest US$2 bil – paultan.org|date=16 December 2019}}

In December 2019, it was announced that VinFast had plans to market electric vehicles to the United States by 2021.{{Cite web|url=https://www.thestar.com.my/business/business-news/2019/12/11/vietnams-richest-man-bets-us2bil-to-sell-cars-to-us|title=Vietnam's richest man bets US$2bil to sell cars to US {{pipe}} The Star|website=www.thestar.com.my}} Exactly one year later, the company did not mention dates when reporting that it intended to sell its vehicles in Australia.

On 22 January 2021, VinFast unveiled three finalized designs of their electric SUV models VF31, VF32, VF33 intended for the US, Canada, Germany, France and the Netherlands export markets, of which, VF32 and VF33 are available in both gasoline and electric engine versions. These vehicles are stated to meet the NHTSA, Euro NCAP and ASEAN NCAP 5 star-ratings and feature self-driving capabilities thanks to a suite of electronic driver-assist features.{{Cite web|url=https://www.motorauthority.com/news/1131027_vietnam-s-vinfast-reveals-trio-of-electric-suvs-including-2-for-us|title=Vietnam's Vinfast reveals trio of electric crossovers, including 2 for US|website=Motor Authority|date=3 March 2023}}

In July 2021, VinFast appointed Michael Lohscheller, who previously worked as an executive of Volkswagen America and as CEO of Opel, to lead its overseas operations.{{Cite web|last=|title=VinFast hires former Volkswagen executive as new global CEO|url=https://e.vnexpress.net/news/business/companies/vinfast-hires-former-volkswagen-executive-as-new-global-ceo-4331258.html|access-date=2021-07-27|website=VnExpress International|language=en}} The VF31 was later rebranded as VF e34 and became available in Europe in November.{{Cite web|last=Krijgsman|first=Lars|date=2021-03-26|title=Elektrische Vinfast VF 31 wordt VF e34|url=https://www.autoweek.nl/autonieuws/artikel/elektrische-vinfast-vf-31-wordt-vf-e34/|website=Autoweek.nl}}

On 16 November 2022, the first VinFast showroom opened in Toronto at the Yorkdale Shopping Centre.{{Cite web|url=https://www.thestar.com/business/2022/11/16/vietnamese-electric-vehicle-maker-vinfast-launches-first-showroom-in-canada.html|title=Vietnamese electric vehicle maker VinFast launches first showroom in Canada|date=16 November 2022|website=thestar.com}} In the same year, the company had chosen Santa Monica as one of two locations to promote its vehicles in California.

VinFast plans to expand in seven more markets in Asia, including Indonesia, where the company aims to start deliveries from 2024.{{Cite news|url=https://www.thejakartapost.com/business/2023/09/14/ev-maker-vinfast-plans-asia-expansion-to-launch-indonesia-plant-in-2026.html|title=EV maker VinFast plans Asia expansion, to launch Indonesia plant in 2026|newspaper=Jakarta Post|access-date=14 September 2023}} In January 2024, VinFast announced plans to enter the Philippine market.{{Cite web | date=2024-01-31 | title=Vietnamese carmaker VinFast to enter PH market this year | url=https://www.topgear.com.ph/news/industry-news/vietnamese-carmaker-vinfast-enter-philippine-market-2024-a2619-20240131 | access-date=2024-03-27 | website=topgear.com.ph | language=en}} Three dealerships were opened in the country and the electric SUVs VF3, VF5 and VF7 were launched in September and October 2024, respectively.{{Cite web |date=2025-01-22 |title=VinFast Officially Launches VF 7 For Sale in the Philippines |url=https://www.manilatimes.net/2025/01/22/tmt-newswire/media-outreach-newswire/vinfast-officially-launches-vf-7-for-sale-in-the-philippines/2042523 |access-date=2025-01-30 |website=The Manila Times |language=en}}{{Cite web |last= |first= |date=2024-10-17 |title=VinFast officially launches VF 5 electric SUV for sale in the Philippines |url=https://business.inquirer.net/485260/vinfast-officially-launches-vf-5-electric-suv-for-sale-in-the-philippines |access-date=2025-01-30 |website=INQUIRER.net |language=en}}

= In the media =

In August 2023, and in tandem with their NASDAQ listing, VinFast launched an ad campaign for their VF 8 and US debut featuring Joey Lawrence, reviving his catchphrase, "Whoa!", from the hit TV series Blossom on NBC that amassed a million views on YouTube in under a week,{{cite web|url=https://m.youtube.com/watch?v=pjH6d3VAKNk|title=VinFast: 'Woah'|publisher=YouTube|date=21 August 2023}} produced by production company Anaheim Studios.{{Cite web | title=With Anaheim Studios (Sorted by Popularity Ascending) | url=http://www.imdb.com/search/title/?companies=co1012398 | access-date=2023-09-21 | website=IMDb}}

Four million views{{Cite web |date=Aug 21, 2023 |title=VinFast - It's Time To Charge A Different Path |website=YouTube |url=https://www.youtube.com/watch?v=pjH6d3VAKNk}} and four months later, VinFast released a second installment of the Whoa commercial,{{Citation | title=All the Latest Features {{!}} VinFast VF 8 | date=18 December 2023 | url=https://www.youtube.com/watch?v=zCoB-h0B0o4 | access-date=2023-12-20 | language=en}} in which Joey Lawrence reprised his starring role, in December of the same year.{{Cite press release | last=VinFast | title=VinFast Unveils the Second Installment of "Changing Lanes" Campaign Starring Actor Joey Lawrence | url=https://www.prnewswire.com/news-releases/vinfast-unveils-the-second-installment-of-changing-lanes-campaign-starring-actor-joey-lawrence-302017331.html | access-date=2023-12-20 | website=www.prnewswire.com | language=en}}{{Cite web | date=2023-12-18 | title=VinFast Unveils the Second Installment of "Changing Lanes" Campaign Starring Actor Joey Lawrence | url=https://www.fox19.com/prnewswire/2023/12/18/vinfast-unveils-second-installment-changing-lanes-campaign-starring-actor-joey-lawrence/ | access-date=2023-12-20 | website=www.fox19.com | language=en}}

= India operations =

In February 2024, VinFast officially broke ground on its first integrated electric vehicle (EV) manufacturing facility in India, located in Thoothukudi (also known as Tuticorin), Tamil Nadu. The project, spanning 400 acres within the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) industrial estate, represents a planned investment of up to US$2 billion, with an initial commitment of US$500 million over the first five years. The plant is designed to have an annual production capacity of up to 150,000 vehicles and is expected to generate approximately 3,000–3,500 local jobs.{{cite web |title=VinFast Officially Breaks Ground on Its Integrated Electric Vehicle Facility in India {{!}} VinFast |url=https://vinfastauto.us/investor-relations/news/vinfast-officially-breaks-ground-on-its-integrated-electric-vehicle |website=vinfastauto.us |access-date=May 29, 2025 |language=en |date=February 25, 2024}}{{cite web |last1=Nguyen |first1=Phuong |title=VinFast plans to open India, Indonesia plants this year in pivot to Asia |url=https://www.reuters.com/world/india/vinfast-plans-open-india-plant-by-end-june-ceo-says-2025-04-24/ |website=Reuters |access-date=May 29, 2025 |date=April 24, 2025}}

The Thoothukudi facility is scheduled to commence operations by the end of June 2025. Initially, the plant will focus on assembling vehicles using completely knocked down (CKD) kits, with a starting capacity of 50,000 units per year, scalable up to 150,000 units based on market demand.{{cite web |last1=Sathe |first1=Vipul |title=VinFast India assembly plant will start operations in June {{!}} Motoroids |url=https://www.motoroids.com/news/vinfast-india-assembly-plant-will-start-operations-in-june/ |website=motoroids |access-date=29 May 2025 |date=26 April 2025}}{{cite web |title=VinFast to Open Tamil Nadu Factory in 3-4 Months: TRB Rajaa |url=https://www.autocarpro.in/news/vinfast-to-open-tamil-nadu-factory-in-3-4-months-trb-rajaa-125574 |website=Autocar Professional |access-date=29 May 2025 |language=en |date=26 March 2025}}

In January 2025, VinFast unveiled its first electric vehicles for the Indian market—the VF 6 and VF 7—at the Bharat Mobility Global Expo in New Delhi. These models, tailored for the Indian market with right-hand drive configurations, are part of VinFast’s strategy to cater to the growing demand for premium electric SUVs in India.{{cite web |title=VinFast Officially Enters the Indian Market With the Launch of the VF 6 and VF 7 {{!}} VinFast |url=https://vinfastauto.us/investor-relations/news/vinfast-officially-enters-the-indian-market-with-the-launch-of-the-vf-6-and |website=vinfastauto.us |access-date=May 29, 2025 |language=en |date=January 18, 2025}}

Beyond vehicle manufacturing, VinFast plans to develop a comprehensive EV ecosystem in India, including battery production and charging infrastructure. The company is also exploring opportunities to establish a second EV and battery manufacturing plant in Andhra Pradesh, with a proposed investment of approximately ₹4,000 crore (US$480 million).{{cite web |last1=Gupta |first1=Uma |title=VinFast exploring Andhra Pradesh for second EV and battery plant in India |url=https://www.pv-magazine-india.com/2024/07/15/vinfast-exploring-andhra-pradesh-for-second-ev-and-battery-plant-in-india/ |website=pv magazine India |access-date=29 May 2025 |date=15 July 2024}}

Tamil Nadu is widely recognized as India’s automobile manufacturing hub, hosting major automotive clusters in cities like Chennai, Krishnagiri, and Coimbatore. The establishment of VinFast’s facility in Thoothukudi marks the emergence of the state’s fourth major auto cluster, further solidifying Tamil Nadu’s position in the automotive sector.{{cite web |last1=Shivakumar |first1=C. |title=VinFast likely to start production in three months, Thoothukudi turns TN’s fourth big auto cluster |url=https://www.newindianexpress.com/states/tamil-nadu/2025/Mar/22/vinfast-likely-to-start-production-in-three-months-thoothukudi-turns-tns-fourth-big-auto-cluster |website=The New Indian Express |access-date=29 May 2025 |language=en |date=22 March 2025}}

Etymology

The name VinFast is an abbreviation of Vietnamese words:{{cite web|url=https://vietnamfinance.vn/vinfast-nhung-buoc-chay-than-toc-20180504224208843.htm|title=VinFast – những bước chạy 'thần tốc'|trans-title=VinFast – steps to 'speed'|author=Lê Ngà|language=vi|publisher=VietnamFinance|date=28 September 2018|access-date=25 October 2018}}

  • Việt Nam (Vietnam)
  • Phong cách (Style, spelled Ph as F)
  • An toàn (Safety)
  • Sáng tạo (Creativity)
  • Tiên phong (Pioneer)

Products

= Automobiles =

VinFast announced their first two models, the LUX A2.0 and the LUX SA2.0, at the 2018 Paris Motor Show. Both models are based on previous generation BMW products with various changes and enhancements, including the extensive redesign of the chassis to meet future international safety standards. Both will come in rear-wheel drive and all wheel drive, and both will be powered by the licensed BMW N20 turbocharged petrol engine in 175 bhp and 227 bhp options. Comprehensive reliability and safety testings have been completed. Production of both models started in 2019.{{cite web|url=https://www.autocar.co.uk/car-news/new-cars/vinfast-launches-lux-a20-saloon-and-lux-as20-suv|title=Vinfast to launch Lux A2.0 and Lux AS2.0 saloon and SUV|author=Hilton Holloway|publisher=Autocar|date=2 October 2018|access-date=25 October 2018}}{{Cite web | url=https://www.automotivelogistics.media/inbound-logistics/vinfast-ramps-up-production-in-vietnam/39072.article | title=VinFast ramps up production in Vietnam | first=Marcus| last=Williams | date=2019-09-11 | website=Automotive Logistics}}

In January 2022, VinFast announced it will put an end to the production of its internal combustion engine (ICE) vehicles lineup by the end of 2022. The company will instead focus research and development efforts on battery electric vehicles.{{Cite web | date=2022-01-06 | title=Vietnam's indigenous carmaker VinFast to stop making ICE vehicles in a year | url=https://auto.hindustantimes.com/auto/news/vietnams-indigenous-carmaker-vinfast-to-stop-making-ice-vehicles-in-a-year-41641443136580.html | access-date=2022-01-16 | website=Hindustan Times Auto News | language=en}}

VF8 is the first American market model for the company. In October 2024, VinFast also launched its brand in Dubai.{{Cite web |last=aranyamondal |date=2024-10-29 |title=VinFast Middle East expansion |url=https://www.just-auto.com/news/vinfast-launched-its-brand-in-middle-east/ |access-date=2024-10-29 |website=Just Auto |language=en-US}} Collectively, in the first 48 hours of being able to sell electric automobiles,{{when|date=January 2024}} more than 24,000 orders{{clarify|are these real orders, that have contractual requirements and money not refunded if the customer doesn't take the vehicle? or merely reservations, like many EV companies have done, which are fully refundable?|date=January 2024}} were placed, with 15,237 placed for the VF8 and 9,071 for the VF9.{{Cite web | last=Tức | first=Tin | title=Hơn 24.000 đơn hàng dành cho các mẫu xe điện VinFast trong 48 tiếng | url=https://www.24h.com.vn/o-to/hon-24000-don-hang-danh-cho-cac-mau-xe-dien-vinfast-trong-48-tieng-c747a1323100.html | access-date=2022-01-10 | website=Tin tức 24h | language=vi}}

== Internal combustion engine vehicles ==

  • VinFast LUX A2.0executive sedan, based on the F10 BMW 5 Series.{{cite web|url=https://paultan.org/2018/10/03/vinfast-debuts-lux-suv-and-sedan-at-2018-paris-motor-show/|title=VinFast LUX A2.0 sedan and LUX SA2.0 SUV debut in Paris – BMW-based models to go on sale in June 2019|author=Matthew H Tong|publisher=Paul Tan's Automotive News|date=10 March 2018|access-date=25 October 2018}}
  • VinFast LUX SA2.0mid-size luxury crossover, based on the F15 BMW X5.
  • VinFast President – V8 version of the LUX SA2.0 with additional luxury features.{{Cite web|url=https://e.vnexpress.net/news/business/companies/vinfast-enters-luxury-segment-with-new-suv-4158546.html|title=VinFast enters luxury segment with new SUV – VnExpress International|website=VnExpress International}}
  • VinFast Fadilcity car manufactured under license with General Motors as a rebadged variant of the Opel Karl.{{cite web|url=http://europe.autonews.com/article/20180929/ANE/180929836/vietnams-vinfast-taps-european-suppliers-to-become-a-global-player|title=Vietnam's VinFast taps European suppliers to become a global player|author=Luca Ciferri|publisher=Automotive News Europe|date=29 September 2018|access-date=25 October 2018}}

File:Vinfast Lux A 2.0, Paris Motor Show 2018, IMG 0674.jpg|Vinfast Lux A2.0

File:Vinfast Lux SA 2.0, Paris Motor Show 2018, IMG 0671.jpg|Vinfast Lux SA2.0

File:Newone - Black VinFast President 03.jpg|VinFast President

File:2020 VinFast Fadil front view (Vietnam).png|VinFast Fadil

== Battery electric automobiles ==

  • VinFast Nerio Green - B-segment (subcompact) SUV for the Vietnam market. The company's first EV offering. Deliveries began in December 2021.
  • VinFast VF 3 - Mini SUV designed for the Vietnam market. Two-door vehicle with seating for five. Deliveries began in August 2024.{{cite web |title=VinFast delivers first VF 3 electric cars to Vietnamese customers |url=https://e.vnexpress.net/photo/business/vinfast-delivers-first-vf-3-electric-cars-to-vietnamese-customers-4776658.html |website=VnExpress |access-date=3 October 2024}}
  • VinFast VF 5 - A-segment (city car) SUV for the Vietnam market. Deliveries began in 2023.
  • VinFast VF 6 - B-segment (sub-compact) SUV for the global market. Deliveries expected to begin in 2023.
  • VinFast VF 7 - C-segment (compact) SUV for the global market. Deliveries began in March 2024.{{cite news | title=VinFast bắt đầu bàn giao xe VF 7 cho khách hàng | url=https://dantri.com.vn/o-to-xe-may/vinfast-bat-dau-ban-giao-xe-vf-7-cho-khach-hang-20240330140628150.htm | access-date=30 March 2024 | work=Dantri | date=30 March 2024 | language=vi}}
  • VinFast VF 8 (formerly known as VF32 and VF e35) – D-segment (mid-size) SUV for the global market. Deliveries began in 2022.
  • VinFast VF 9 (formerly known as VF33 and VF e36) – E-segment (full-size) SUV for the global market. Deliveries began in 2023.
  • VinFast Minio Green - Mini SUV specifically designed for ride-hailing services.
  • VinFast Limo Green - upcoming MPV specifically designed for ride - hailing services.

File:2025 VinFast VF 3, front left.jpg|Vinfast VF 3

File:Newone - White VinFast VF 5, Blue VinFast VF 9 and Neptune Grey VinFast VF 8 01 (cropped).jpg|Vinfast VF 5

File:VinFast VF 6 – f 18112022.jpg|VinFast VF 6

File:Vinfast VF7 at NYIAS 2022, front right.jpg|VinFast VF 7

File:VinFast VF 8 DSC 8470.jpg|VinFast VF 8

File:2024 VinFast VF9, 06-14-2024.jpg|VinFast VF 9

Although other Electric Vehicle companies in the past offered some sort of infinite-mile warranty{{Cite web | title=Tesla Model S now has infinite-mile warranty | url=https://www.cnet.com/roadshow/news/tesla-model-s-now-has-infinite-mile-warranty/ | access-date=2024-07-02 | website=CNET | language=en}}{{Cite web | title=NIO to open nine NIO House & Service centers in National Day Holiday | url=https://autonews.gasgoo.com/Detail2020.aspx?ArticleId=70016404 | access-date=2024-07-02 | website=Gasgoo}} but currently, Vinfast still offers 8 to 10 year infinite-mile battery warranty (whichever comes first: the infinite miles or the years. Years depends on the models).{{Cite web | title=VinFast Introduces a Comprehensive Electric Vehicle Lineup at BIMS 2024 {{!}} VinFast | url=https://vinfastauto.us/investor-relations/news/vinfast-introduces-a-comprehensive-electric-vehicle-lineup-at-bims-2024 | access-date=2024-07-02 | website=vinfastauto.us | language=en}}

In 2022, VinFast has a vision of achieving SAE Level [https://wheelbearings.media/2023/07/28/what-are-the-sae-levels-of-automated-driving-think-of-the-hands-feet-eyes-and-brain/#:~:text=This%20category%20allows%20the%20driver,such%20thing%20is%20actually%20defined. 2+] and incrementally to Level 3, then eventually Level 4. With the ProAI high-performance computer, unlike others who rely on pre-mapping (like Waymo{{Cite web | title=The Waymo Driver Handbook: How our highly-detailed maps help unlock new locations for autonomous driving | url=https://waymo.com/blog/2020/09/the-waymo-driver-handbook-mapping | access-date=2024-06-23 | website=Waymo | language=en}}), it will intend to solely rely on its sensor suite.{{Cite web | last=Jost | first=Kevin | date=2022-01-04 | title=VinFast to launch scalable automated driving systems with ZF | url=https://futurride.com/2022/01/04/vinfast-to-launch-scalable-automated-driving-systems-with-zf/ | access-date=2024-06-23 | website=Futurride | language=en-US}}

=== Concepts ===

  • VF Wild - Mid-size pickup truck for the global market. Deliveries begin in 2026.{{Cite web | title=VINFAST UNVEILS NEW ELECTRIC PICKUP TRUCK CONCEPT – VF WILD {{!}} VinFast | url=https://vinfastauto.us/newsroom/press-release/vinfast-unveils-new-electric-pickup-truck-concept-vf-wild | access-date=2024-03-27 | website=vinfastauto.us | language=en}}

= Electric scooters =

VinFast has planned to produce seven different electric motorcycle models by 2019. It has signed agreements with state owned petrol distributor PV Oil to have charging stations built at existing gas stations.{{cite web|url=https://www.vir.com.vn/vinfast-launches-electric-motorcycle-63542.html|title=Vinfast launches electric motorcycle|author=Ha Vy|publisher=Vietnam Investment Review|date=3 November 2018|access-date=7 March 2019}}

  • VinFast Klara – VinFast's first electric motorcycle model launched in November 2018. It has a range of {{convert|80|km|mi}} and a maximum speed of {{convert|50|km/h|mph}}. VinFast signed an agreement with Bosch-Vietnam, a division of Bosch, for the supply of components. The batteries are supplied by a joint venture with LG Chem.{{cite web | url=https://www.netherlandsworldwide.nl/binaries/en-nederlandwereldwijd/documents/publications/2019/01/11/vinfast-and-the-electric-vehicle-market-in-vietnam/EVs+-+Vinfast.pdf | author=Dylan Pastoor | title=Vinfast and the Electric Vehicle Market in Vietnam}} Two versions of the Klara are sold, featuring lead acid and lithium-ion batteries respectively. The Klara features 3G and bluetooth connectivity to allow remote lock and unlock and tracking.{{cite web | url=https://tinhte.vn/threads/vinfast-ra-mat-xe-tay-ga-dien-klara-pin-lithium-ion-3g-gps-ban-ra-thang-nay.2872874/ | title=VinFast ra mắt xe tay ga điện Klara – pin Lithium-ion, 3G, GPS, bán ra tháng này | author=chuyengiaphaxe |website=Tinhte.vn}}
  • VinFast Ludo
  • VinFast Impes
  • VinFast Klara S
  • VinFast Theon – equipped with a mid-engine and chain transmission system with a power of up to 7,100 W. It can reach a power of 9,000 W equivalent to 12 horsepower and a maximum torque of 22.27 N⋅m, accelerate from 0 to 50 km per hour in just six seconds and reach a maximum speed of 90 km/h.
  • VinFast Feliz
  • VinFast Tempest
  • VinFast Vento
  • VinFast Evo200

File:Newone - VinFast Klara cream.jpg|VinFast Klara

File:Newone - VinFast Ludo Blue.jpg|VinFast Ludo

File:Newone - VinFast IMPES blue 03.jpg|VinFast Impes

File:Newone - VinFast Klara S 02.jpg|VinFast Klara S

File:Newone - VinFast Theon đen.jpg|VinFast Theon

File:Newone - VinFast Theon Ludo Klara S Impes Feliz.jpg|VinFast Klara S

File:Newone-VinFast Tempest 02.jpg|VinFast Tempest

File:Newone - VinFast Vento Times City 03.jpg|VinFast Vento

File:Newone - Yellow VinFast Evo200 electric scooter.jpg|VinFast Evo200

= Electric transit buses =

VinFast produces low-floor electric city buses for sister company VinBus, a privately operated non-profit bus route network service established by Vingroup in 2019. The bus is powered by a 281 kWh battery pack which gives the bus up to {{cvt|260|km|mi}} of range. Using the VinBus-designated 150 kWh DC fast-charging stations provided by StarCharge, the battery can be charged within ~2 hours.{{cite web|url=https://insideevs.com/news/500192/vinbus-first-electric-bus-vietnam/|title=VinBus Launches First Electric Bus In Vietnam|website=InsideEVs|first=Mark|last=Kane|date=13 April 2021|access-date=14 November 2022}}{{cite web|url=https://www.sustainable-bus.com/electric-bus/first-vinbus-electric-buses-vietnam/|title=First VinBus electric buses launched in Vietnam|website=Sustainable Bus|date=16 April 2021|access-date=14 November 2022}}

File:Newone - VinBus 10.jpg|VinFast VinBus

Production facilities

VinFast operates a {{Convert|335|ha|sqmi|abbr=}} greenfield factory at Cat Hai Island, Hai Phong. The factory produces cars and motorbikes and parts for both of them.{{Cite web|date=2020-11-18|title=Auto industry seeks to develop components segment|url=https://www.retailnews.asia/auto-industry-seeks-to-develop-components-segment/|access-date=2020-12-07|website=Retail News Asia|language=en-US}} In 2017, VinFast also acquired GM Vietnam's Hanoi factory (VIDAMCO).{{cite news|url=https://www.ft.com/content/a8da1eb4-7aa9-11e8-bc55-50daf11b720d|title=GM forms partnership with Vietnam's VinFast|website=Financial Times|date=28 June 2018}} {{subscription required}}

In September 2020, VinFast purchased the Lang Lang Proving Ground in Australia from General Motors.[https://thewest.com.au/lifestyle/motoring/holdens-lang-lang-proving-grounds-sold-to-vietnamese-start-up-vinfast-gmsv-to-continue-testing-on-site-ng-b881662137z Holden's Lang Lang proving grounds sold to Vietnamese start-up VinFast, GMSV to continue testing on site] The West Australian 9 September 2020 VinFast purchased the former Holden proving ground for $30 million and settled on the purchase on 2 November.{{cite web|url=https://www.carexpert.com.au/car-news/vinfast-settles-on-lang-lang-proving-ground-with-30m-purchase-price|title=Vinfast settles on Lang Lang proving ground with $30m purchase price|website=CarExpert.com.au|date=3 November 2020 }} In October 2021, VinFast disbanded its local engineering operations and put the Lang Lang Proving Ground test track up for sale.[https://www.drive.com.au/news/holden-test-track-for-sale-again-for-second-time-in-12-months-agent-cbre-confirms/ Holden test track for sale again for second time] Drive.com.au 25 October 2021

VinFast will build a plant in Indonesia, targeting production in 2025 with an output of 30,000 to 50,000 units each year.[https://www.reuters.com/business/autos-transportation/ev-maker-vinfast-plans-asia-expansion-deliver-cars-indonesia-2024-filing-2023-09-13/EV maker VinFast plans Asia expansion, to launch Indonesia plant in 2026] Reuters.com 14 September 2023

Controversy and reception

In May 2021, VinFast reported one of its customers, Tran Van Hoang, a Vietnamese YouTuber, to the police over comments that the customer made on his YouTube video about the quality of his VinFast Lux A2.0 car. VinFast claimed that the video contained "untrue content" that "affected the reputation" of the company to increase views and interactions for his YouTube channel.{{Cite news | last=Pearson | first=James | date=2021-05-04 | title=Vietnam's VinFast reports customer to police after 'untrue' YouTube complaints | language=en | work=Reuters | url=https://www.reuters.com/article/us-vietnam-vinfast-police-idUSKBN2CL0PC | access-date=2021-05-08 | archive-url=https://web.archive.org/web/20210508111427/https://www.reuters.com/article/us-vietnam-vinfast-police-idUSKBN2CL0PC | archive-date=2021-05-08}} On the video, Hoang complained about faults in the tire pressure sensor, the windshield wipers, the wireless phone charger, and squeaking doors. Vinfast has alleged that Hoang lied about the number of times he went to the dealership for repairs, though Hoang claims to have evidence to support his statements.{{cite web|url=https://znews.vn/toi-san-sang-gap-dai-dien-vinfast-giai-quyet-dut-diem-moi-viec-post1212546.html|title=I am ready to meet VinFast representative to resolve everything completely - Tran Hoang|date=2021|language=en|website=ZNew.vn}} Hoang said he has hired lawyers and is ready to confront VinFast in the lawsuit. But then he said: '"The two sides should meet and share to have a common voice because the incident that happened was not expected by either side".{{Cite web | date=2021-05-07 | title=Vietnam's VinFast Reports Owner To Police For "Untrue" Criticisms About His Car In YouTube Video | url=https://www.carscoops.com/2021/05/vietnams-vinfast-reports-youtuber-to-police-for-untrue-criticisms/ | url-status=live | archive-url=https://web.archive.org/web/20210508111628/https://www.carscoops.com/2021/05/vietnams-vinfast-reports-youtuber-to-police-for-untrue-criticisms/ | archive-date=2021-05-08 | access-date=2021-05-08 | website=Carscoops | language=en-US}}

VinFast received "The Rising Star” award from Autobest in 2022 and named among world's 100 most influential companies in 2024 by Time Magazine.{{Cite web |date=2022-10-17 |title=The Rising Star |url=https://autobest.org/the-rising-star/ |archive-url=https://web.archive.org/web/20240915054709/https://autobest.org/the-rising-star/ |archive-date=2024-09-15 |website=Autobest}}{{Cite web |date=2024-06-25 |title=Vinfast Lands in Time Magazines 2024 |url=https://www.carguide.ph/2024/06/vinfast-lands-in-time-magazines-2024.html?m=1#google_vignette |access-date=2024-09-15 |website=Carguide}}

In the U.S., the VinFast VF 8 has received negative reception after press cars became available to automotive journalists. A number of well-established and widely followed automotive journalists and car critics have given the VF8 poor reviews.{{cite web | date=12 May 2023 | title=First Drive: The 2023 VinFast VF8 Is Unacceptable | url=https://www.roadandtrack.com/news/a43875030/2023-vinfast-vf8-first-drive-unacceptable/ | access-date=16 July 2023 | website=roadandtrack.com}}{{cite web | date=12 May 2023 | title=Critics Agree: The VinFast VF8 Is Very, Very Bad |url=https://jalopnik.com/everyone-agrees-the-vinfast-vf8-is-very-very-bad-1850432490 | access-date=16 July 2023 | website=jalopnik.com}}{{cite web | date=17 May 2023 | title=First VinFast VF 8 Reviews Are Abysmal | url=https://www.kbb.com/car-news/first-vinfast-vf8-reviews-are-abysmal/ |access-date=16 July 2023 | website=kbb.com}}{{cite web | date=12 May 2023 | title=Review: Don't buy the 2023 Vinfast VF 8 City Edition | url=https://www.greencarreports.com/news/1139636_2023-vinfast-vf-8-city-edition-test-drive-review | access-date=16 July 2023 | website=greencarreports.com}}{{cite web | date=12 May 2023 | title=The 2023 VinFast VF8 Got Skewered in First Drive Reviews | url=https://www.thedrive.com/news/the-2023-vinfast-vf8-got-skewered-in-first-drive-reviews | access-date=16 July 2023 | website=thedrive.com}} In a May 2023 review, Motor Trend said the vehicle is "nowhere near ready for the customer deliveries" due to many software glitches.{{cite web | date=12 May 2023 | title=2023 VinFast VF8 First Drive: Return to Sender | url=https://www.motortrend.com/reviews/2023-vinfast-vf8-electric-suv-first-drive-review/ | access-date=16 July 2023 | website=motortrend.com}} Car and Driver said the vehicle has "immediately obvious flaws" that would make it difficult for VinFast to find customers.{{cite web | date=16 May 2023 | title=Tested: 2023 VinFast VF8 Proves Building Cars Is Hard | url=https://www.caranddriver.com/reviews/a43878817/2023-vinfast-vf8-by-the-numbers/ | access-date=16 July 2023 | website=caranddriver.com}}

In Vietnam, on 15 May 2024, after VinFast opened deposits for VF3 cars, there were 27,649 orders after 66 hours, setting a new record in Vietnam.{{Cite web|url=https://www.msn.com/vi-vn/news/other/vinfast-nh%E1%BA%ADn-27-649-%C4%91%C6%A1n-%C4%91%E1%BA%B7t-c%E1%BB%8Dc-xe-vf-3-ch%E1%BB%89-sau-66-gi%E1%BB%9D-m%E1%BB%9F-b%C3%A1n/ar-BB1mtgFL|title=Vinfast VF3|website=MSN|language=Vi|date=2024}}

On 21 May 2024, US Federal regulators have begun an investigation into the crash of a VinFast VF 8, resulting in the deaths of a family of four from Pleasanton, California. "The vehicle owner had complained about the performance of the SUV's automated steering, although it's not clear if that was a factor in the crash."{{Cite web|url=https://eastbaytimes.com/2024/05/22/feds-now-probing-electric-vehicle-crash-in-pleasanton-that-killed-family-of-four/|title=Feds now probing electric vehicle crash in Pleasanton that killed family of four|date=22 May 2024}}

In December 2024, a chassis designer who worked on development of VinFast cars came public as a whistleblower, claiming that VinFast ignored his recommendations to redesign parts that suffered from premature failure during prototype testing.{{Cite web |title=JLR whistleblower sacked for publishing concerns about VinFast cars |url=https://www.bbc.com/news/articles/c20nr3zdppjo |access-date=2024-12-19 |website=www.bbc.com |language=en-GB}} Reports indicate that engineers faced significant pressure to meet stringent deadlines, raising concerns about the safety and quality of VinFast vehicles. Allegations suggest that engineers were even locked in factories overnight to speed up production, potentially compromising vehicle safety.{{Cite web |last=Yeomans |first=Emma |date=2024-12-23 |title=Exposed: Engineers ‘locked in factory’ to finish ‘unsafe’ electric car |url=https://www.thetimes.com/uk/transport/article/jaguar-landrover-electric-car-engineers-locked-factory-nx3b38njz |access-date=2025-02-06 |website=www.thetimes.com |language=en}}

See also

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References

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