Vietnam’s Bold Drive Into the Electric Future
By Kelli Luu | 03 Nov, 2025

VinFast EVs challenge Tesla and BYD with cutting edge technology and an ambitious vision for the future.

We’ve heard of Tesla, Lucid, and even BYD, but VinFast has been the quiet brand leading Vietnam’s push into the electric vehicle world. Launched by Vietnamese entrepreneur Phạm Nhật Vượng, VinFast was created to compete globally. 

Vượng earned his wealth in Ukraine after opening up a noodle business before building one of Vietnam’s largest private conglomerates, Vingroup. VinFast was then founded in 2017 and broke ground on 828 acres of land to create a state-of-the-art manufacturing compound in Haiphong, Vietnam that boasts up to 90% automation, meaning 90% of the manufacturing processes are done by robotics and automatic systems. 

The first phase of development began in 2018 when the company invested $1.5 billion to manufacture the cars allowing VinFast to make its very first debut internationally at the Paris Motor Show. That same year, General Motors announced a partnership with VinFast, giving VinFast rights to distribute Chevrolet vehicles and ownership of the GM factory in Korea. They also signed two contracts with Siemens Vietnam to supply the technology to produce electric buses around Southeast Asia. 

In March 2019, VinFast sent the very first batch of 310 completed and semi-completed internal combustion engine vehicles to other continents in order to conduct field tests. By 2020, VinFast was the fifth best-selling car brand in Vietnam. 

By the end of 2022, the company made the decision to completely stop all internal combustion engine production and go fully electric, sending its first batch of EVs to the United States. 

To support the expansion of VinFast into the U.S., a $4 billion manufacturing plant is currently in the works in North Carolina which is expected to be finished in 2028 and will act as a main production center for American and European markets.

Although VinFast has faced timing delays and mixed reviews from car critics, the company is still staying optimistic and actively improving their vehicles to enhance the driving experience. In 2025 VinFast opened showrooms beyond Vietnam and the U.S. in Canada, France, and Germany with plans of slowly entering Southeast Asia and the Middle East. 

With international expansions and investments in electric bus development,  the company’s vision is clear. Make electric mobility accessible everywhere and to firmly place Vietnam on the global EV map.