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VinFast, a Vietnamese automaker, has emerged as a significant player in the electric vehicle industry with its innovative and environmentally friendly approach to mobility. Since its establishment in 2017, VinFast has gained recognition for its stylish designs, advanced features, and collaborations with renowned automotive firms. With a focus on electric cars, VinFast aims to cater to the increasing demand for sustainable transportation options. 

The company has set its sights on expanding its operations to the United States, intending to establish a strong presence in one of the world’s largest automotive markets. Let’s review the company’s history, its success in producing electric cars in Vietnam, and its plans to eventually manufacture vehicles in the United States.

2023 VinFast VF8 is the automaker's first all electric SUV in America
2023 VinFast VF8 | Finfast

The face behind VinFast

Vingroup was founded all the way back in 1993 by Pham Nhat Vuong. Its industries span much larger than just building and developing cars. Vingroup is known for building homes, educational institutions, and even helps to develop better healthcare. According to Kelley Blue Book, the founder, Pham, started off by selling dried noodles. Now, he is a billionaire and Vietnam’s richest man.

Where did VinFast make its debut?

VinFast made its debut at the Paris Motor Show in 2018, showcasing its first two models: the VinFast Lux A2.0 sedan and the VinFast Lux SA2.0 SUV. These vehicles garnered significant attention for their design and advanced features. The company collaborated with various automotive design firms to create stylish and high-quality vehicles.

Are the cars good?

Kelley Blue Book had the opportunity to drive a version of the VF 8 model. Reviewers claim that the car seemed potentially competitive and well-built. The company has worked with Pininfarina—think Ferrari—on the models. The 2023 VinFast VF 8 will start at about $40,700, and the VF 9 will have a starting price of $55,500.

Will VinFast build cars in the United States?

When it comes to expansion, VinFast has expressed its ambitions to enter the United States market. The company’s strategy involves establishing a research and development center in the United States to conduct advanced automotive engineering activities.

This move aims to enable the compnay to tap into the American automotive expertise and adapt its electric vehicle technology to meet local requirements. Additionally, VinFast plans to establish an electric vehicle manufacturing facility in the United States, further solidifying its presence in the American market.

The future of the company

VinFast has quickly gained recognition for its innovative approach to mobility. With its stylish designs, advanced features, and strategic collaborations, VinFast has successfully established itself in the Vietnamese market. Looking toward the future, the company aims to expand its operations to the United States, intending to leverage American expertise and establish a manufacturing presence.

VinFast’s journey exemplifies its determination to offer sustainable and cutting-edge mobility solutions, contributing to the ongoing transformation of the automotive industry.