VinFast, a pioneering Vietnamese electric vehicle (EV) manufacturer, is making waves on the global stage with its meteoric rise. This upstart, emblematic of Vietnam’s burgeoning economic power, has now set its sights on the electric vehicle market in the Middle East.
A subsidiary of Vingroup, Vietnam’s largest conglomerate, VinFast has not only emerged as the country’s first carmaker but also established itself as a pioneer in the EV revolution.
VinFast owes its existence to the vision and ambition of Vietnam’s richest man and Vingroup’s founder, Pham Nhat Vuong. Known for his decisiveness, Vuong established the car company in 2017.
Following the launch of 3 gasoline models, VinFast made a bold move: it was going all electric. The company delivered its first EVs to Vietnamese customers in December 2021, a remarkable feat achieved in less than five years.
The motivation behind VinFast’s lightning pace lies in Vuong’s laser focus and strategic partnerships. Vingroup, with its vast and multi-faceted resources, leveraged its expertise in construction and real estate development to establish a nationwide network of charging stations. To accelerate development, VinFast partnered with some of the automotive world’s heavyweights, including BMW and Pininfarina.
