VinFast Auto (NASDAQ:VFS) is a Vietnamese-founded electric vehicle (EV) manufacturer and subsidiary of Vingroup, established in 2017 and headquartered in Hai Phong, Vietnam. The company focuses on the design, development, and production of zero-emission passenger vehicles with an emphasis on sustainability and advanced technology. VinFast operates integrated manufacturing facilities in Vietnam, including stamping, body welding, painting and assembly plants, positioning itself as a fully self-sufficient automaker from chassis production to final vehicle assembly.
VinFast’s product lineup encompasses electric cars, SUVs and two-wheeled electric scooters. Flagship models include the VF 8 and VF 9 SUVs, marketed internationally for their competitive range and modern in-car technology, as well as the smaller VF e34 crossover designed for urban commutes. In addition, the company offers an innovative battery subscription program that separates battery ownership from the vehicle purchase, allowing customers to lease batteries and potentially reduce upfront costs. VinFast also develops battery management systems and partners with leading battery technology firms to continually enhance energy density and charging efficiency.
Initially focused on the domestic Vietnamese market, VinFast has swiftly expanded into North America, Europe and Australia. The company opened its first U.S. production facility in North Carolina and has announced plans for additional service centers and charging infrastructure across key markets. VinFast’s global strategy includes establishing an EV charging network, forging partnerships with energy providers and showcasing its vehicles at international auto shows to build brand recognition outside Southeast Asia.
Under the leadership of founder Pham Nhat Vuong, one of Vietnam’s most prominent entrepreneurs, VinFast has pursued rapid growth and innovation. Le Thi Thu Thuy, serving as President, oversees the company’s strategic direction and international expansion efforts. In 2023, VinFast completed its listing on the Nasdaq Stock Market, marking a significant milestone in its mission to become a major global player in sustainable mobility solutions.
