It also revealed a plan to set up an assembling plant in India – the third largest 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.

VinFast electric vehicles are parked before delivery to their first customers at a store in Los Angeles, California, U.S., March 1, 2023.

According to VinFast, plant construction in new markets allows the firm to capitalise on the incentives of the host governments as well as access raw materials 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 28,220 vehicles sold in Q3, up 177% from Q2, and 113% as compared to the same time last year.

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

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

A feasible plan was outlined to ensure that VinFast is able to make bold steps to become a global company, she said.

Second batch of VinFast VF 8 vehicles arrive in US

VinFast, a subordinate automaker of private conglomerate Vingroup, announced the arrival of its second shipment of electric vehicles, consisting of 1,879 VF 8 vehicles, at the Port of Benicia in California.

VinFast hands over first VF 5 Plus cars to customers

VinFast, an electric vehicle maker of Vietnamese conglomerate Vingroup, handed over the first VF 5 Plus cars to customers on Friday.

VinFast to ship another 1,800 electric cars to North America

The Vietnamese automaker VinFast has announced that it is preparing to export an additional 1,800 VF8 electric cars to the United States and Canada.

VinFast to buy back electric cars after 5 years

VinFast electric car owners in Vietnam can sell their vehicle back to the company after five years for 53-66% of their purchase price, the automaker has said.

Most expensive VinFast EV delivered to local buyers

The first Vietnamese customers on Monday received their VF9s, the most expensive electric sport utility vehicle (SUV) produced by Vietnamese automaker VinFast.

Source: VnExpress