Vietnam's First Domestic Car VinFast Starts Sales in North America and Europe

Vietnam's First Domestic Car VinFast Starts Sales In North America And Europe
Vietnam's First Domestic Car VinFast Starts Sales In North America And Europe

Viet Nam's first domestic automaker, Vinfast, announced on Monday, July 12 that they want to have a share in the smart electric vehicle market and that they have opened offices in North America and Europe for this purpose.

Vinfast, a company under the umbrella of Vietnam's largest Holding, Vingroup, took its place in the market with a fossil-fueled car model in 2019 and produced Vietnam's first domestic car.

In the statement made by the company, it was stated that they have opened representative offices in five different international markets to date and will soon open a showroom in California.

Vingroup Chairman of the Board, Pham Nhat Vuong, in his speech at the company's general assembly in June, announced that they had previously announced a production target of 2022 thousand electric vehicles in 56, but they had reduced this target to 15 thousand due to problems in chip supply.

It has been reported that the Vinfast company, which sold 30 thousand vehicles last year, has not yet announced a profit.

In an interview with Vinfast America's Chief Executive Officer, Reuters Agency in April, it was learned that the company plans to carry out its less costly online sales activities rather than establishing a dealership network in America, and they are also considering selling electric vehicles with the option of battery rental.

Vinfast is expected to launch two different electric vehicle models, the VF e35 and the VF e36, in March next year.

It was also stated that the company is considering selling some of its shares in the United States through the public offering method or partnering with a special purpose purchasing company in order to meet its financing needs.

However, according to a report that reached the Reuters Agency last May, it was reported that there was a delay in the public offering, which was thought to take place in the second quarter of the year and was expected to create a fund of 2 billion dollars.

Günceleme: 14/07/2021 11:19

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