About

VinFast Auto Ltd., a subsidiary of Vingroup founded in 2017 by Vietnamese billionaire Phạm Nhật Vượng, has quickly evolved into a global leader in electric vehicles (EVs). Originally producing electric scooters and gas-powered cars, the company has transitioned into a prominent player in the EV market.

At the heart of its operations is an advanced 828-acre manufacturing complex, established in September 2017, with 90% of production automated. VinFast made an impressive debut at the 2018 Paris Motor Show with its Lux series, earning the "A Star is Born" award from Autobest. By 2020, these Lux models were the top sellers in their segments in Vietnam.

VinFast has been a pioneer in Vietnam's EV industry. It introduced the country's first electric bus in 2021, alongside two e-scooters. That same year, it unveiled three new EV models - the VF e34 compact SUV for Vietnam and the VF 8 and VF 9 premium SUVs for global markets.

Expanding internationally, VinFast broke ground in July 2023 on a $4 billion EV production plant in Moncure, North Carolina. This state-of-the-art facility, spanning nearly 2,000 acres, is set to open in late 2025. It will have the capacity to produce 150,000 vehicles annually and create up to 7,500 jobs. U.S. customers of these locally assembled EVs will also benefit from a $7,500 federal tax credit.

With its ambitious goals, cutting-edge technology, and growing global reach, VinFast aims to sell 100,000 vehicles by 2024, driving forward the future of sustainable transportation.