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Vinfast - Vietnamese electric-vehicle startup plans car factory in the U.S.

The Highlights:

  1. Vietnamese electric-vehicle startup VinFast plans to open a U.S. factory after setting up a 50-member San Francisco research office as it prepares for California automobile sales in 2022.

  2. The model, designed by Italian design house Pininfarina, can travel up to 500 kilometers (310 miles) on one charge.

  3. Vinfast, which sold its first gas cars last year, sold 5,124 cars in the local market in the first quarter this year, putting it in fifth place and ahead of brands that include Mitsubishi, Mazda, and Ford, according to state media.

VinFast, backed by Vietnam's wealthiest person Pham Nhat Vuong, began delivering gasoline autos to Vietnamese consumers with BMW-licensed engines in 2019. Vuong, who is also chairman of parent company Vingroup JSC, said late that year he would back the company’s U.S. ambitions with $2 billion of his own fortune...

Read the full article on VietLaunch.

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