VinFast Trading and Production, the subsidiary of Vietnamese conglomerate Vingroup, plans to open an automobile plant in the US after establishing a 50-person R&D office in San Francisco in preparation for California automobile sales in 2022, the company has said.

"VinFast's vision is to become a global smart electric car company and the US market is one of the first international markets that we will focus on," Chief Executive Officer Thai Th? Thanh Hai said, according to vietnamnews.vn.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

"We initially will develop high end models for the US," she added.

Hai strongly believes VinFast can win US and other export market customers wary of buying an automobile from a Vietnamese firm they know little or nothing about by offering top-quality vehicles with high safety standards and advanced technology.

VinFast also plans to open 35 California showrooms and service centres this year, she said.

See Also:

Most recently, vietnamnews.vn noted, California regulators have granted VinFast a licence to test autonomous vehicles on public roads. The company aims to deliver its first electric vehicles to US customers next year.

According to the report, Hai did not reveal how much Vinfast would invest in the US market, however, she said the firm targeted to be profitable after five years of operation despite challenges caused by the COVID-19 pandemic.

In September last year, California governor Gavin Newsom ordered a phase-out of sales of new ICE cars by 2035 which is billed as an impetus for Vinfast to sell electric vehicles in the market, she said.

Earlier, according to the report, Vingroup chairman Ph?m Nhat Vuong told Bloomberg he would pour US$2bn into Vinfast to export cars to the US.

Vinfast to produce solid-state battery in Vietnam