VinFast is Vietnam’s first and most ambitious automaker, established in 2017 as a subsidiary of Vingroup, the country’s largest private corporation. VinFast has partnered with foreign brands like BMW, Siemens, and Bosch to acquire technology and expertise, and has launched several models of electric vehicles, including scooters, buses, and cars. VinFast aims to become a global player in the EV market, and has exported its vehicles to the U.S. and other countries12.
VinFast’s main competitors in Vietnam include Selex Motors, Dat Bike, and AIWAYS3. These are also EV manufacturers that offer different products and services. Selex Motors produces electric motorcycles and bicycles, and also provides battery swapping stations. Dat Bike is a startup that makes affordable electric motorbikes and has raised funding from global investors. AIWAYS is a Chinese company that sells electric SUVs in Vietnam through a local distributor. VinFast has an advantage over these competitors in terms of brand recognition, production capacity, and product diversity. However, VinFast also faces challenges such as software glitches, customer feedback, and regulatory hurdles2.