Business

EV maker VinFast aims expansion in 50 markets

VinFast, the electric vehicle (EV) maker of Vietnamese conglomerate Vingroup, on October 5 said it will expand in in 50 markets globally by the end of 2024.
EV maker VinFast aims expansion in 50 markets ảnh 1VinFast will expand in 50 markets globally by the end of 2024.  (Photo: VNA)
Hanoi (VNA) – VinFast, the electric vehicle (EV) maker of Vietnamese conglomerate Vingroup, on October 5 said it will expand in 50 marketsglobally by the end of 2024. 

It also revealed a plan to set up an assembling plant in India – the thirdlargest automobile market in the world. Some 150-200 million USD will be splashed out on the Indian plant, which is designed with the capacity of 50,000 vehicles a year in the first phase.

According to VinFast, plant construction in new markets allows the firm tocapitalise on the incentives of the host governments as well as access  rawmaterials with attractive prices.

VinFast handed over 10,027 electric cars in the third quarter of this year, up 5% from previous quarter.Robust sales in the period was recorded in the Norther American market,especially Canada.

During January-September, as many 21,342 VinFast vehicles were delivered.

Besides, the firm saw impressive sales of electric motorbikes, with 28,220vehicles sold in Q3, up 177% from Q2, and 113% ascompared to the same time last year.

Its revenue rose 4% quarter-on-quarter, and 159% year-on-year to 8.254 trillionVND (342.7 million USD), nearly 7.7 trillion VND of which came from electricvehicle sales.

According to Le Thi Thu Thuy, VinFast Global General Director, VinFast has an ambitiousplan to build a green future, and its business result in the last quarters is onlyan initial step.

A feasible plan was outlined to ensure that VinFast is able to make bold stepsto become a global company, she said./.
VNA
#EV maker VinFast #assembling plant #Indian plant #electric vehicles #Le Thi Thu Thuy #global company #Vietnam News Agency #Vietnamplus
Follow VietnamPlus

Related News

VinFast debuts on Nasdaq Global Select Market

VinFast debuts on Nasdaq Global Select Market

Vietnamese auto maker VinFast Auto Ltd. (VinFast) rang the bell to officially commence trading of its shares on the Nasdaq Global Select Market, the US, under the ticker symbol “VFS”.
VinFast to attend global EV show in Canada

VinFast to attend global EV show in Canada

VinFast, Vietnam’s first electric vehicle (EV) maker, has announced it will attend the 2023 Fully Charged Live show, held for the first time in Canada from September 8-10.

See more

DACE launches organic spice processing, preservation and export plant in Cao Bang (Photo: VNA)

Cao Bang develops organic farming zones linked to European markets

Around 2,353ha of farmland in the province meets organic standards, including more than 2,332ha of spice-growing areas cultivating cinnamon, star anise and ginger that have obtained internationally recognised certifications such as USDA (US), EU and JAS (Japan).

Electronic components are produced at a factory in Hanoi. (Photo: VNA)

Hanoi's imports surge 41% in first eight months of 2026

Hanoi aims to achieve average annual export growth of at least 12% during 2026-30, with the city seeking to diversify export markets, boost high-tech and value-added products and reduce reliance on traditional markets.

Ben Thanh Market in Ho Chi Minh City attracts a large numbers of domestic and international visitor.( Photo: VNA)

Vietnam targets 50 million international visitors by 2030

The Ministry of Culture, Sports and Tourism has outlined three scenarios for 2027–2030. Under the high-growth scenario, international arrivals would rise 15–18 percent annually to reach 45–50 million, while domestic tourism would reach around 160 million trips. Total tourism revenue is projected at 80–90 billion USD.

Factories and production facilities in the Chu Lai Open Economic Zone, Da Nang city, are equipped with modern production lines. (Photo: VNA)

Ready-built factories gain from new manufacturing FDI wave

Ready-built factories attracted 73% of new manufacturing FDI in northern Vietnam over the past two quarters, as foreign investment continued to surge at the region's industrial hubs during the first eight months of 2026. The trend points to growing demand for premises that can be put into operation quickly.

Vietnamese durian industry pivots from volume to value

Vietnamese durian industry pivots from volume to value

Durian has morphed from a high-value crop into a strategic Vietnamese export. But as output climbs and importing markets tighten rules on quality, food safety and traceability, the industry must pivot from volume growth to sustainable value chains, better quality and diversified markets.

A display area for Mid-Autumn Festival cakes at a supermarket (Photo: VNA)

Mid-Autumn Festival cake market heats up at affordable end

Industry insiders say competition is no longer just about the cake itself. Product quality, packaging, brand reputation, delivery services and personalisation are increasingly shaping consumer choices in a market crowded with both domestic and foreign players.

Minister of Foreign Affairs Le Hoai Trung (Photo published by VNA)

Vietnam, India set 25 billion USD trade goal

Vietnam and India agreed to make better use of complementary strengths, ease market access difficulties and facilitate business activities toward achieving the 25 billion USD bilateral trade target.

Delegates at the meeting between Vietnamese businesses operating in Cambodia and the Council for the Development of Cambodia (CDC) on September 14. (Photo: VNA)

Vietnamese businesses seek to expand investment in Cambodia

Vietnam currently has 223 investment projects in Cambodia with total registered capital of nearly 3.4 billion USD. Vietnamese companies operate in agriculture, particularly large-scale farming, finance and banking, telecommunications, aviation, processing, trade and services.