A Vietnamese business tycoon has big plans on initiating EV operations in North America and Europe

by AatoMobil

VinFast is venturing out to enter the US, Canadian, and European markets. VinFast plans to offer luxury EVs that come with the highest safety standards and advanced technologies. The two North American and European bound SUVs go by the name of VF32 and VF33. VinFast founder Pham Nhat Vuong especially has a keen interest in the US market. He is making strenuous efforts to chase the American dream.

The Vietnamese billionaire plans to open a factory in the US with the aim of delivering its products by 2022. VinFast plans to first have a 50-member R&D office in San Francisco. The company plans to go global by selling products in Europe and Canada as well. Keeping in mind its global positioning, the strategy will be to manufacture high-end models as of now.

Mr. Vuong stated last year that he was interested to invest $2 billion. The company will also keep a close eye on established stalwarts like General Motors and Ford. Ford and GM are spending billions of dollars to come up with a full-fledged electric lineup.

The company plans on opening 35 showrooms and service centers in California alone by the end of this year. VinFast has got approval from California-based regulators to test their prototypes on public alleys and streets. Previously VinFast first began selling gasoline vehicles in Vietnam, the cars were powered by BMW licensed engines. The company saw a good response and managed to sell 30,000 units. The company has a forecast of selling 45,000 units this year.  

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