Of note, FGF will sit beside Vuong’s electric car ride hailing firm Xanh GSM. Xanh GSM has accounted for the lion’s share of electric car purchases from VinFast. However, many of these, it was reported in April, were languishing in a field north of Hanoi with the supply far outstripping demand. With this in mind, FGF could have a major client right off the bat…

For some context, registration fees can vary between provinces, however, the highest it can be, per Circular 229, is VND 20 million or about US$786. With a 50 percent discount that’s VND 10 million or about US$393. With a new car running at around VND 300 million to VND 500 million this reduction in registration fees is a drop in the bucket. In this context, one reading of this might be that correlation does not necessarily mean causation. It could also be, however, that the love for a good discount in Vietnam is not always entirely rational…

Notably, Vietnam’s EV charging network is mostly owned by VinFast, a subsidiary of Vietnamese conglomerate Vingroup. The firm has already developed more than 150,000 EV charging ports nationwide but currently restricts access exclusively to its own EV users. The participation of Charge+ in expanding the charging network for other electric vehicle brands in Vietnam could help reduce difficulties for Chinese EV producers entering the Vietnamese market…

Of note, Vietnam’s EV charging network is mostly owned by VinFast, a subsidiary of Vietnamese conglomerate Vingroup. The company claims to have more than 150,000 EV charging ports nationwide, however, these facilities are currently exclusively for Vinfast’s EV users. Vinfast has said that, after 10 years, the network will be opened up to other brands, however, this is years away and it’s not clear what electric car buyers of other brands will do until then…

Vietnam’s electric vehicle market holds promise for foreign car manufacturers. Of note, electric car buyers are eligible for incentives such as exemption from registration fees for the first three years and a 50 percent fee reduction for the subsequent two years, per Decree 10/2022/NĐ-CP.  Nevertheless, foreign car manufacturing firms may encounter challenges related to EV charging infrastructure and electricity supply shortages in Vietnam. These hurdles could potentially hamper manufacturers in expanding their market presence and sales…

Special Consumption Tax is paid by the consumer at the point of purchase of the vehicle to the dealership who then holds on to those funds to pass on to the Tax Department when they fall due. By delaying these payments, this policy acts like a short term loan to these operations. This has been a popular means of supporting local enterprises over the past few years as the car market has struggled through a broader economic downturn…

This is in the context of antidumping tariffs on electric vehicles in the US and EU which may see China look for alternative markets for their vehicles. With a reasonably big population and rapidly rising incomes, not to mention being just a stone’s throw away, Vietnam is a prime choice…

Of note, an article in Business Forum Magazine has lamented that the bulk of this decline was in locally produced vehicles and suggests this might presage an even greater decline of the local car manufacturing industry. It points out that import tariffs have come down considerably on motor vehicles under the ASEAN Trade in Goods Agreement but are also declining as a result of the European-Vietnam Free Trade Agreement which should see tariffs on cars imported from Europe reduced to zero by 2030.

Vietnam’s automotive industry is huge but dominated by motorcycles. That said, cars are becoming more popular with just shy of 5 million registered vehicles at the end of 2020. This does, however, represent just 5 percent of the population of 100 million people which means there is plenty of room for car sales to grow…

Work started on the North Carolina right around the same time that VinFast shipped its first electric vehicles to the United States. VinFast’s electric vehicles, however, have not been popular in the US and have received some pretty damning reviews. Furthermore, the company is also being sued for alleged disclosure violations, patent infringement, and unpaid rent, and the National Highway Traffic Safety Administration in the US is investigating a car crash in California in which four people died when the VinFast car they were driving crashed into a tree…

It’s not clear how the author of this article drew these conclusions with no sources listed and it reads a lot more like an opinion piece than hard news. These observations, however, could just as easily be applied to consumers in developed markets of Vietnamese electric vehicles…

Of note, a lot of the challenges VinFast has faced entering the US market can largely be traced back to fundamental differences between doing business in Vietnam and doing business in the United States, and a failure to properly understand the differences…

Vietnam’s cities have a carpark problem. Built around motorbikes most cities are cramped with narrow streets and very little room to park a car. Car numbers, however, have continued to grow and as a stop-gap vehicles are being parked just about anywhere space can be found.

One of the side effects of all of the attention Vietnam’s Vinfast has received is that it has exponentially raised awareness of electric vehicles among Vietnamese consumers. Furthermore, there is a lot of status that goes along with owning a car in Vietnam. That said, Vietnam’s GDP per capita is still only around US$4,000 which makes owning a car of any kind challenging for most Vietnamese. In this context, smaller, cheaper Chinese EVs could find a welcome home south of the border.

Vinfast’s planned North Carolina factory has been delayed pending approval of plans for a much smaller factory, The News Observer is reporting. The car marker has not been as successful as it had hoped, hence the smaller factory. It has, however, continued to maintain that the factory will be online

Vietnam’s Vinfast has continued to haemorrhage money, reporting a loss in the first quarter of 2024 of US$618.3 million, according to a filing with the US Securities and Exchange Commission. Key takeaways It delivered 9,689 EVs; This was down from 13,513 in the fourth quarter of 2024; with 50 percent

Three law firms have initiated legal action against Vietnamese electric vehicle maker Vinfast on the grounds that it withheld information from shareholders, according to a press release from US law firm Pomerantz. Specifically, that it would be unable to meet its 2023 delivery target and that it lacked the capital

Despite losses totally more than US$2 billion in 2023, Vietnam’s homegrown automaker will break even in 2025, according VinFast President Le Thi Thu Thuy as reported by Zing News. This is a huge undertaking with sales overseas lacklustre at best–just a few thousand–and the vehicles sold in Vietnam mostly to

A total of 10,017 cars were sold in February down from 20,536 in February of last year, according to data from the Vietnam Automotive Manufacturers Association and reported by Just Auto.  This article says this was partly due to the Lunar New Year holiday. It also says that car sales