VinFast plans electric car plant in US

Hanoi (VNA) – VinFast Trading and Production LLC , a subsidiary of Vietnamese conglomerate Vingroup, plans to set up an automobile plant in the US after establishing a 50-member R&D office in San Francisco in preparation for California automobile sales in 2022, Bloomberg reported.

"VinFast's vision is to become a global smart electric car company and the US market is one of the first international markets that we will focus on," Bloomberge quoted VinFast Chief Executive Officer Thai Thanh Hai as saying.

"We initially will develop high-end models for the US", she added.

Hai expressed her strong belief that VinFast can win over the US and other overseas customers leery of buying an automobile from a Vietnamese firm they know little or nothing about by offering top-quality vehicles with high safety standards and advanced technology.

VinFast also plans to open 35 California showrooms and service centers this year, she said.

Most recently, California regulators have granted VinFast a license to test autonomous vehicles on public streets. The company aims to deliver its first electric vehicles to US customers next year.

Hai did not reveal how much Vinfast will invest in the US market; however, she said the firm target to be profitable after five years of operation here despite challenges caused by the COVID-19 pandemic.

In September last year, California Governor Gavin Newsom ordered to phase out sales of new gasoline-powered cars by 2035, which is billed as an impetus for Vinfast to sell electric vehicles in the market, she said.

Earlier, Vingroup Chairman Pham Nhat Vuong told Bloomberg that he will pour 2 billion US D into Vinfast to export cars to the US./.

VNA