2022 Outlook – Q&A with VinFast

David Leggett January 11, 2022 (Last Updated January 11th, 2022 11:31)

In the latest of our series of sector outlook interviews, we take the temperature from the industry on highlights of the year just gone and prospects for the year ahead. Here, we hear from Ms Tran Thi Hong Bich, CEO of VinFast EU.

2022 Outlook – Q&A with VinFast
Ms Tran Thi Hong Bich

2021 was another memorable year for everyone and for all sorts of reasons. We had a bumpy recovery from the worst of the Covid pandemic, but the automotive industry was also hammered by a shortage of semiconductor parts. In your business, what stand out as the biggest challenges you faced this year?

We have carefully prepared the supply chain and are determined to set an expected sales target of about 42,000 vehicles globally in 2022.

The Covid pandemic creates pressure and opportunity for us to leverage the domestic industries, restructure the supply chain to reduce dependence on external resources, and diversify our go-to-market strategies. In terms of production, VinFast is applying automation, using robots and technology to assist and replace human labour. In business, we are developing digital sales platform (e-commerce), virtual reality (VR) applications, livestream sales and more.

Any high spots or particular successes you’d like to share?

VinFast has made remarkable progress and developed a great deal in a short time.

In Vietnam, VinFast has developed a comprehensive electric vehicle (EV) ecosystem, including electric scooters, electric buses, electric cars and a system of charging stations. Our first electric car model, the VF e34, introduced in March 2021, has set a sales record with 25,000 domestic pre-orders. Currently, VF e34 is about to be handed over to customers.

In the international markets, VinFast has made impressive strides. In July 2021, we started opening offices in North America and Europe and are preparing to launch VinFast showrooms in these markets, preparing for the first sale, expected in the first half of 2022.

In particular, in November 2021, VinFast officially launched a global electric car brand at the Los Angeles Auto Show 2021 (USA) and introduced to the public 2 electric SUV models. VF e35 and VF e36 attracted massive attention from the public and international media. We also were present at CES 2022, strongly affirming VinFast’s determination to become a global smart electric car company.

How are you feeling about 2022 – both in terms of business prospects and more generally?

We are very excited about 2022. We will soon announce key strategies that demonstrate our strong commitment to the vision of driving the movement of a global smart EV revolution, as well as VinFast’s plans to expand into the global market. These are large markets, open consumers, strong growth potential, favourable economic conditions and policies that help VinFast have a strong foothold.

Is anything emerging as a particular concern in terms of the outlook?

We expect that VinFast will become a brand that is widely interested and loved because we aim to become a major contributor to the development of green transportation globally.

About our products, VinFast EVs have a modern and luxurious style and are designed to expect to meet the high-quality standards of American and European markets, with a 5-star NCAP safety rating. In terms of sales policies, VinFast applies flexible financial solutions to ensure that our cars are easily accessible to more potential car buyers. Regarding after-sales service and warranty, we have an outstanding warranty policy, up to 10 years for electric vehicles, providing our customers peace of mind to use the car for a long time.

Additionally, high quality, reasonable price, and outstanding after-sales care are the three core components that enable VinFast to win customers in Vietnam and will underpin VinFast’s competitive strategy in international markets.

Do you have a message for Just Auto’s readers? 

We have been doing our best to contribute to the global green transport revolution. We are committed to ensuring the quality of VinFast EVs, as well as to assure the high standards of dedicated after-sales services and long-term attachment to customers, and we hope that Just Auto readers will support us. A sincere thank you!