{{Other uses|VF (disambiguation){{!}}VF}} {{Short description|Vietnamese automotive company}} {{Use British English|date=July 2022}} {{Use dmy dates|date=June 2019}} {{Infobox company | name = VinFast Auto Ltd. | logo = Logo of VinFast (3D Banner).svg | logo_size = | image = Newone - Hung An - VinFast 2020.jpg | image_size = | image_caption = VinFast’s factory gate | native_name = | type = Public | traded_as = {{NASDAQ|VFS}} | industry = Automotive | predecessor = <!-- or: | predecessors = --> | successor = <!-- or: | successors = --> | founded = {{start date and age|df=yes|2017|6}} | founder = Phạm Nhật Vượng | defunct = <!-- {{End date|df=yes|YYYY|MM|DD}} --> | hq_location = Đình Vũ – Cát Hải Economic Zone, Haiphong, Vietnam<ref>{{Cite web |title=Form 8-A12B |url=https://www.sec.gov/Archives/edgar/data/1913510/000119312523212288/d487206d8a12b.htm |access-date=2023-08-15 |website=www.sec.gov}}</ref> | area_served = {{ubl |Vietnam |Indonesia |Philippines |Thailand |India |Middle East |Europe |North America }} | key_people = {{Unbulleted list | Phạm Nhật Vượng (CEO) | Lê Thị Thu Thủy (chair) | Nguyễn Thị Lan Anh (CFO) }} | products = Automobiles<br />Motorcycles<br />Commercial vehicles<ref>{{cite web|url=http://vingroup.net/en-us/news-events/news-events/heavy-industry/vinfast-looks-for-electric-motorcycle-distributors-3281.aspx|title=VinFast looks for electric motorcycle distributors|work=VNS|publisher=VinGroup|date=24 July 2018|access-date=25 October 2018}}</ref> | revenue = {{increase}} {{US$|1.150 billion|link=yes}} (2023)<ref>{{cite web|url=https://www.nasdaq.com/market-activity/stocks/vfs/financials|title=VinFast Auto Ltd. Ordinary Shares (VFS) Financials|publisher=Nasdaq|date=31 December 2023|access-date=6 July 2024}}</ref> | operating_income = {{increasenegative}} {{US$|-1.667 billion}} (2023) | net_income = {{increasenegative}} {{US$|-2.366 billion}} (2023) | assets = {{increase}} {{US$|5.487 billion}} (2023) | num_employees = 13,953 (2023) | parent = Vingroup | website = {{URL|https://vinfast.com}} }}
'''VinFast Auto Ltd.''' is a Vietnamese<!--Vietnam is Vinfast's country of headquarters where it conducts its base of operations, and therefore should not be changed.--> multinational automotive company<ref>{{cite news | title=Vietnam EV maker VinFast to shift legal HQ to Singapore ahead of first exports | url=https://www.reuters.com/business/autos-transportation/vietnam-ev-maker-vinfast-shift-hq-singapore-ahead-ipo-first-exports-2022-05-24/ | website=Reuters | date=24 May 2022 | access-date=15 August 2023 | last1=Nguyen | first1=Phuong | last2=Krolicki | first2=Kevin | last3=Krolicki | first3=Kevin}}</ref> founded by Vingroup, one of the largest private conglomerates in Vietnam that was founded by Phạm Nhật Vượng.<ref>{{cite web|url=https://www.mondial-paris.com/en/visiteur/exposant/285/vinfast|title=Constructeur|publisher=Paris Motor Show|access-date=25 October 2018|archive-date=3 April 2020|archive-url=https://web.archive.org/web/20200403133939/https://www.mondial-paris.com/en/visiteur/exposant/285/vinfast|url-status=dead}}</ref><ref>{{cite web|url=http://www.autonews.fr/mondial-auto-2018/vinfast-mondial-auto-suv-sedan-concept-photos-82028|title=Vinfast: L'énigmatique marque vietnamienne sera au Mondial|trans-title=Vinfast: The enigmatic Vietnamese brand will be at the World|author=Lucas Raheriarivony|language=fr|publisher=Auto News|date=10 September 2018|access-date=25 October 2018}}</ref><ref>{{cite web|url=https://www.leprogres.fr/lifestyle/2018/09/11/les-grands-debuts-du-constructeur-vietnamien-vinfast-au-mondial-de-paris-2018|title=Le constructeur vietnamien VinFast dévoile ses deux premiers modèles de voitures|trans-title=Vietnamese manufacturer VinFast unveils first two car models|language=fr|publisher=Le Progrès|date=1 September 2018|access-date=25 October 2018}}</ref>
Established in 2017 in Haiphong, it is the first Vietnamese car brand to expand into global markets as well as the first to expand into producing electric vehicles (EV) such as electric cars and electric scooters.<ref>{{Cite web|last=VnExpress|title=VinFast eyes global market, to open car plant in US – VnExpress International|url=https://e.vnexpress.net/news/business/companies/vinfast-eyes-global-market-to-open-car-plant-in-us-4242502.html|access-date=2021-03-13|website=VnExpress International – Latest news, business, travel and analysis from Vietnam|language=en}}</ref>
== History == VinFast was founded in 2017 by Vingroup.<ref name="VNF"/>
=== Founding and early development (2017–2021) === VinFast broke ground in September 2017 on an {{convert|828|acre|m2|adj=on}} facility in an industrial park on Cat Hai Island near Hai Phong. The factory includes a paint shop, press shop, assembly shop, and engine shop, and was built in 21 months.<ref>{{Cite web|url=https://new.siemens.com/global/en/markets/automotive-manufacturing/references/vinfast.html|title=A fully digital automotive factory|website=Siemens.com|access-date=2026-05-20}}</ref>
During the launch of the first phase of development in 2018, the company reported an initial investment of US$1.5 billion to manufacture cars and electric motorbikes at a greenfield factory.<ref>{{Cite web|url=https://vinfastauto.us/newsroom/press-kit/vietnam-manufacturing-facility|title=Vietnam Manufacturing Facility {{!}} VinFast|website=vinfastauto.us|access-date=2025-01-30}}</ref> VinFast sourced European design, engineering, and production technology partners. In July 2017 the company had posted 20 car design sketches online from four studios, Italdesign Giugiaro, Pininfarina, Torino Design, and Zagato, and invited the Vietnamese public to vote; over 60,000 votes were cast.<ref name=":0">{{Cite web|last=Banzon|first=Sharleen|date=2018-10-02|title=Vietnamese carmaker VinFast has revealed the names of its debut models|url=https://www.topgear.com.ph/news/car-news/vietnamese-vinfast-revealed-names-debut-models-a2578-20181002|access-date=2025-01-30|website=TopGear.com.ph}}</ref> The two winning designs, the LUX A2.0 sedan and LUX SA 2.0 SUV, were shown at the Paris Motor Show in autumn 2018.<ref>{{Cite web|url=https://www.netcarshow.com/vinfast/2020-lux_a2.0_sedan/|title=Vinfast Lux A 2.0|website=Netcarshow.com|date=2020}}</ref>
In 2018, General Motors announced a partnership under which VinFast would have exclusive rights to distribute the Chevrolet brand in Vietnam and would take ownership of the existing GM Korea factory in Hanoi (VIDAMCO), which was then to produce a GM-licensed small car sold under the VinFast name.<ref>{{cite web|url=https://www.ft.com/content/a8da1eb4-7aa9-11e8-bc55-50daf11b720d|title=GM forms partnership with Vietnam's VinFast|website=Financial Times|date=2018-06-28|url-access=subscription|access-date=2018-10-25}}</ref> VinFast also signed contracts with Siemens Vietnam for technology to manufacture electric buses in Southeast Asia.<ref>{{cite web|url=https://www.reuters.com/article/us-siemens-vingroup-automobile/vietnams-vinfast-in-deal-with-siemens-for-technology-to-make-electric-buses-idUSKBN1KY09W|title=Vietnam's Vinfast in deal with Siemens for technology to make electric buses|author1=Khanh Vu|author2=Himani Sarkar|website=Reuters.com|date=2018-08-13|access-date=2018-10-25}}</ref>
The company was to have been the title sponsor of the inaugural Vietnamese Grand Prix during the {{F1|2020}} season; the race was cancelled due to the COVID-19 pandemic.<ref>{{Cite web|url=http://www.pitpass.com/65978/VinFast-to-be-title-sponsor-of-Vietnam-Grand-Prix|title=VinFast to be title sponsor of Vietnam Grand Prix|date=2019-10-15|website=Pitpass.com}}</ref> In Q1 2020, VinFast was the fifth best-selling car brand in Vietnam.<ref name=vnexpress_4090698>{{Cite web|url=https://e.vnexpress.net/news/business/companies/auto-newbie-vinfast-zooms-to-fifth-place-in-sales-4090698.html|title=Auto newbie VinFast zooms to fifth place in sales|website=vnexpress.net|publisher=VnExpress International}}</ref> On 20 September 2020, the company announced a loss of VND 6.6 trillion ($284 million) in the first half of the year.<ref>{{Cite web|url=https://e.vnexpress.net/news/business/companies/carmaker-vinfast-posts-284-mln-loss-4159430.html|title=Carmaker VinFast posts $284 mln loss|publisher=VnExpress International|website=vnexpress.net}}</ref>
In December 2020, VinFast released preliminary images of a pickup truck in development following the purchase of the Lang Lang Proving Ground in Australia.<ref name="SNZ">{{Cite web|url=https://www.stuff.co.nz/motoring/123722877/vietnams-vinfast-working-on-a-doublecab-ute|title=Vietnam's Vinfast working on a double-cab ute|date=2020-12-16|website=Stuff.co.nz}}</ref> The pickup concept was later shown as the VF Wild at CES 2024 but had not entered production as of 2026. In October 2021, VinFast announced the sale of the Lang Lang proving ground; it had not found a buyer as of 2026.<ref>{{cite web|title=Holden test track for sale again for second time|url=https://www.drive.com.au/news/holden-test-track-for-sale-again-for-second-time-in-12-months-agent-cbre-confirms/|website=Drive.com.au|date=2021-10-25}}</ref>
In February 2020, VinFast opened an engineering office in Port Melbourne, staffed by former Holden, Ford Australia, and Toyota Australia engineers, becoming the company's first overseas engineering facility.<ref name="PT">{{Cite web|url=https://paultan.org/2020/02/28/vietnams-vinfast-enters-australia-eyes-holden-assets/|title=Vietnam's VinFast enters Australia, eyes Holden assets|website=paultan.org|date=2020-02-28}}</ref> The office was temporarily closed in May 2021 due to the COVID-19 pandemic and did not subsequently reopen as a permanent operation.<ref>{{Cite web|url=https://www.caradvice.com.au/950750/vinfast-closing-port-melbourne-design-and-engineering-office-former-holden-test-track-safe-say-industry-insiders/|title=VinFast closing Port Melbourne design and engineering office|website=caradvice.com.au}}</ref>
On 27 July 2021, Vingroup announced that Michael Lohscheller, former CEO of Opel, had been appointed CEO of VinFast Global. He resigned five months later on 27 December 2021.<ref>{{Cite web|date=2021-12-27|title=Ex-Opel chief Lohscheller steps down as CEO of VinFast|url=https://europe.autonews.com/move/ex-opel-chief-lohscheller-steps-down-ceo-vinfast|website=europe.autonews.com|access-date=2022-02-12}}</ref>
On 25 December 2021, VinFast delivered the first batch of 100 VF e34 electric crossovers to Vietnamese customers at its Hai Phong facility, marking Vietnam's first domestically manufactured and sold electric vehicle.<ref>{{Cite web|last=Doll|first=Scooter|date=2021-12-28|title=VinFast delivers first ever Vietnamese EVs to local customers|url=https://electrek.co/2021/12/28/vinfast-delivers-first-ever-vietnamese-evs-to-local-customers/|website=Electrek|access-date=2022-01-16}}</ref>
=== Move to Singapore and Nasdaq listing (2022–2023) === VinFast announced in April 2022 that it planned an initial public offering (IPO) through a Singapore-based holding company, and simultaneously announced it would move its legal and financial headquarters to Singapore while Vietnam remained its operational base.<ref name="SGHQ">{{cite web|last1=Nguyen|first1=Phuong|last2=Krolicki|first2=Kevin|title=Vietnam EV maker VinFast to shift HQ to Singapore ahead of IPO, first exports|url=https://www.reuters.com/business/autos-transportation/vietnam-ev-maker-vinfast-shift-hq-singapore-ahead-ipo-first-exports-2022-05-24/|website=Reuters.com|date=2022-05-24|access-date=2022-05-24}}</ref> The company stated that "We feel that Singapore is a jurisdiction that will give investors more confidence."<ref name="CNAV">{{cite web|url=https://www.channelnewsasia.com/business/vietnam-ev-maker-vinfast-shift-hq-singapore-ahead-ipo-2703691|title=Vietnam EV maker VinFast to shift legal HQ to Singapore ahead of first exports|access-date=2022-05-25|archive-date=2022-05-25|archive-url=https://web.archive.org/web/20220525073830/https://www.channelnewsasia.com/business/vietnam-ev-maker-vinfast-shift-hq-singapore-ahead-ipo-2703691|url-status=dead}}</ref>
In July 2023, VinFast announced a merger with a special-purpose acquisition company (SPAC) operated by Black Spade Capital, valued at $23 billion. The transaction was completed on 14 August 2023, and VinFast began trading on Nasdaq on 15 August 2023 under the ticker symbol VFS.<ref>{{cite news|url=https://www.newsobserver.com/news/business/article277930568.html|title=You will soon be able to buy VinFast stock. But it's taking a different path to market.|last=Gordon|first=Brian|work=News and Observer|date=2023-08-09}}</ref><ref>{{Cite web|last1=Rosevear|first1=Sheila|last2=Chiang|first2=John|date=2023-08-15|title=Vietnamese EV maker VinFast debuts on the Nasdaq after completing SPAC merger|url=https://www.cnbc.com/2023/08/15/vinfast-completes-spac-merger-set-to-start-trading-on-nasdaq.html|website=CNBC}}</ref> VinFast's share price surged dramatically on debut before falling sharply in subsequent weeks. Reuters reported that the company had made only 7,400 car sales in 2022, all in Vietnam, casting doubt on the implied valuation of tens of billions of dollars.<ref>{{Cite web|last=Gilboy|first=James|date=2023-08-16|title=Vinfast Isn't Worth $85 Billion, You Dorks|url=https://www.thedrive.com/news/vinfast-isnt-worth-85-billion-you-dorks|website=The Drive}}</ref> VinFast set a sales target of 50,000 vehicles globally for 2023 but delivered approximately 35,000, missing the goal.<ref>{{cite web|last1=Kane|first1=Mark|title=VinFast Delivers Record Number Of EVs In Q4, But Misses 2023 Target|url=https://insideevs.com/news/705323/vinfast-ev-deliveries-2023q4/|website=InsideEVs|access-date=2024-02-10}}</ref>
=== Financial difficulties and corporate restructuring (2024–2026) === In November 2024, Vingroup JSC pledged to loan VinFast as much as $1.38 billion to help the company break even by the end of 2026, with founder Phạm Nhật Vượng pledging an additional $1.97 billion personally.<ref>{{Cite news|date=2024-11-12|title=VinFast Tycoon to Inject $2 Billion Into Struggling EV Maker|url=https://www.bloomberg.com/news/articles/2024-11-12/vinfast-tycoon-to-inject-2-billion-into-struggling-ev-maker|work=Bloomberg}}</ref><ref>{{Cite web|date=2024-11-12|title=Loss-Making EV Firm VinFast to Get $3.4 Billion More Funding From Founder, Parent Company|url=https://money.usnews.com/investing/news/articles/2024-11-12/loss-making-ev-firm-vinfast-to-get-3-4-billion-more-funding-from-founder-parent-company|website=USNews.com}}</ref> The break-even target was subsequently pushed back to after 2027, according to Reuters.<ref>{{cite web|url=https://vietnamnews.vn/economy/1716509/vinfast-to-suspend-expansion-in-western-markets-shift-to-asia-vingroup-chair.html|title=VinFast to suspend expansion in western markets, shift to Asia: Vingroup chair|website=Vietnam News|access-date=2026-05-20}}</ref>
In May 2026, VinFast filed with the U.S. Securities and Exchange Commission a proposed corporate restructuring under which it would divest its Vietnamese manufacturing operations. Under the plan, VinFast's current Vietnamese manufacturing entity, VinFast Trading and Production JSC (VFTP), would be separated from the Singapore-registered holding company and sold to a buyer group led by Future Investment Research and Development JSC, which includes founder Pham Nhat Vuong, in a deal valued at approximately VND 13.3 trillion (US$530 million). The transaction would transfer approximately VND 182 trillion ($6.9 billion) in debt and obligations to VFTP, leaving VinFast Auto Ltd. effectively debt-free. A newly created entity, VinFast Vietnam JSC (VFVN), would retain global research and development, intellectual property, and sales operations, while VFTP would continue producing VinFast-branded vehicles under a cost-plus manufacturing agreement. The company described the restructuring as a move toward an "asset-light" model. Manufacturing facilities in India and Indonesia were stated to be unaffected. Completion was expected in the third quarter of 2026, subject to shareholder, creditor, and regulatory approvals.<ref>{{Cite web|date=2026-05-13|title=Vietnam EV maker VinFast says it will undergo corporate restructuring|url=https://www.reuters.com/world/asia-pacific/vietnam-ev-maker-vinfast-says-it-will-undergo-corporate-restructuring-2026-05-13/|access-date=2026-05-20|website=Reuters}}</ref><ref>{{cite web|url=https://www.bloomberg.com/news/articles/2026-05-16/vinfast-seeks-to-shed-most-debt-with-vietnam-factory-spinoffs|title=VinFast Plans Vietnam Factory Spinoffs to Cut $6.9 Billion in Debt|website=Bloomberg|date=2026-05-16|access-date=2026-05-20}}</ref><ref>{{cite web|url=https://theinvestor.vn/vinfast-to-sell-manufacturing-arm-in-530-mln-restructuring-adopts-asset-light-model-d19067.html|title=VinFast to sell manufacturing arm in $530 mln restructuring, adopts 'asset-light' model|website=The Investor|access-date=2026-05-20}}</ref>
== Overseas operations ==
=== North America === [[File:Vinfast_dealership_in_Colma.jpg|thumb|A VinFast dealership in Colma, California, United States]] On 29 March 2022, VinFast announced it would build its first North American manufacturing plant in Chatham County, North Carolina, with a planned investment of $4 billion, annual production capacity of 150,000 vehicles, and a stated goal of creating 7,500 jobs.<ref>{{cite web|title=Governor Cooper Announces VinFast Automotive Selects North Carolina for Electric Vehicle Assembly Plant|url=https://governor.nc.gov/news/press-releases/2022/03/29/governor-cooper-announces-vinfast-automotive-selects-north-carolina-electric-vehicle-assembly-plant|website=governor.nc.gov|access-date=2022-11-12}}</ref> Ground was broken at the Moncure site in July 2023.<ref name="VF290723">{{cite web|url=https://vinfastauto.com/vn_en/vinfast-breaks-ground-at-north-carolina-electric-vehicle-facility|title=VinFast Breaks Ground at North Carolina Electric Vehicle Facility|date=2023-07-29|publisher=VinFast|access-date=2023-08-01}}</ref> The factory was originally targeted for completion in July 2024 but was delayed first to 2025 and then to 2028, as VinFast revised its site plans and struggled to attract buyers. Chatham County noted VinFast had twice revised the size of the factory's general assembly building, and no significant vertical construction had taken place as of mid-2024. The employment commitments remained unfulfilled as of 2026.<ref>{{cite web|url=https://www.cnbc.com/2024/05/29/vietnamese-ev-maker-vinfast-considers-delaying-4-billion-us-plant-reuters-source-says.html|title=Vietnamese EV maker VinFast considers delaying $4 billion U.S. plant|website=CNBC|date=2024-05-29|access-date=2026-05-20}}</ref>
VinFast began selling the VF 8 in California in late 2022, initially under a direct-to-consumer model. Early reviews from automotive publications were mixed, with critics noting limited range, software issues, and pricing above comparable established rivals. In late 2023 the company pivoted to a franchised dealer model while retaining 15 company-owned California showrooms. By April 2025, VinFast announced the closure of all 15 California direct-to-consumer stores, leaving a single franchised dealership to cover the state.<ref>{{cite web|url=https://www.carsdirect.com/automotive-news/is-vinfast-going-out-of-business|title=Is VinFast Going Out Of Business?|website=CarsDirect|date=2025-04-25|access-date=2026-05-20}}</ref> US vehicle registrations fell 57% through October 2025 compared with the same period the year prior. By December 2025, VinFast operated fewer than 22 US dealerships, far short of its original target of 125 by the end of 2024, with some locations reported to have no vehicles in stock. Chairwoman Lê Thị Thu Thủy told ''Automotive News'' that the company did not intend to open more US dealerships until the market stabilised.<ref>{{cite web|url=https://www.autoblog.com/news/vinfasts-u-s-meltdown-sales-collapse-57-as-dealers-shut-down|title=VinFast's U.S. Meltdown: Sales Collapse 57% as Dealers Shut Down|website=Autoblog|date=2025-12-12|access-date=2026-05-20}}</ref>
VinFast launched in Canada in November 2022, opening its first showroom at Yorkdale Shopping Centre in Toronto, followed by locations in Vancouver, Laval, Quebec, and several other cities. The expansion fell far short of its target of over 30 corporate-owned stores. By May 2025, VinFast closed five of its ten Canadian locations, including all three of its mall-format boutique stores in Vancouver, Toronto, and Laval.<ref>{{cite web|url=https://finance.yahoo.com/news/vinfast-cuts-half-canadian-showrooms-063804914.html|title=VinFast Cuts Half Its Canadian Showrooms as EV Market Cools|website=Yahoo Finance|date=2025-06-09|access-date=2026-05-20}}</ref> At Vingroup's shareholders meeting in 2025, founder Phạm Nhật Vượng confirmed that VinFast would "temporarily pause its expansion plans into the US, Canada and Europe due to high logistics costs."<ref>{{cite web|url=https://vietnamnews.vn/economy/1716509/vinfast-to-suspend-expansion-in-western-markets-shift-to-asia-vingroup-chair.html|title=VinFast to suspend expansion in western markets, shift to Asia: Vingroup chair|website=Vietnam News|access-date=2026-05-20}}</ref>
=== Europe === On 31 July 2018, VinFast GmbH was established in Frankfurt, Germany, as an early overseas presence handling parts distribution.<ref name="G">{{Cite web|url=https://e.vnexpress.net/news/business/companies/vinfast-german-subsidiary-gets-license-korea-china-next-3785562.html|title=VinFast German subsidiary gets license, Korea, China next|publisher=VnExpress International|website=vnexpress.net}}</ref> VinFast began selling vehicles in France, Germany, and the Netherlands from 2022 using a direct-to-consumer model. The company also established plans to enter the United Kingdom, hiring former Polestar and Genesis UK executive Andrew Pilkington to set up a VinFast UK sales and marketing entity. By autumn 2024, VinFast postponed and subsequently cancelled its UK market entry entirely, closing VinFast UK with the majority of its sales staff made redundant.<ref>{{cite web|url=https://www.am-online.com/news/vietnam-s-vinfast-has-ditched-plan-to-sell-cars-in-uk|title=Vietnam's Vinfast has ditched plan to sell cars direct in UK|website=AM Online|date=2025-05-15|access-date=2026-05-20}}</ref><ref>{{cite web|url=https://www.fleetnews.co.uk/news/vinfast-abandons-uk-launch-plans|title=VinFast abandons UK launch plans|website=Fleet News|access-date=2026-05-20}}</ref>
In early 2025, VinFast closed all its European company-owned sales and service centres and transitioned to a franchised dealer model across France, Germany, and the Netherlands. In May 2025 the company signed its first official dealer partner in France and a second in Germany, selling the VF 6 and VF 8 models through the new network.<ref>{{cite web|url=https://www.malaymail.com/news/money/mediaoutreach/2025/05/09/vinfast-signs-new-dealer-agreements-in-france-and-germany-further-expands-dealership-network-in-europe/380907|title=VinFast signs new dealer agreements in France and Germany|website=Malay Mail|date=2025-05-09|access-date=2026-05-20}}</ref>
=== Southeast Asia === VinFast entered the Indonesian market in February 2024 with the VF e34, followed by the VF 5 in July 2024. Construction of a $200 million assembly plant in Subang, West Java, began in July 2024 with a planned annual capacity of 50,000 right-hand drive vehicles. The plant was inaugurated on 15 December 2025, completing construction in 17 months and establishing VinFast's first overseas production base in Southeast Asia. As of March 2025, VinFast operated 22 dealer stores in Indonesia.<ref>{{cite web|url=https://cleantechnica.com/2025/12/17/vinfast-opens-indonesia-electric-vehicle-plant-just-17-months-after-groundbreaking/|title=VinFast Opens Indonesia Electric Vehicle Plant Just 17 Months After Groundbreaking|website=CleanTechnica|date=2025-12-17|access-date=2026-05-20}}</ref>
VinFast announced its entry into Thailand at the Bangkok International Motor Show in March 2024, signing partnership agreements with 15 dealers and displaying the VF 5, VF e34, VF 6, VF 7, VF 8, and VF 9 in right-hand drive specification.<ref>{{cite web|url=https://markets.financialcontent.com/wapakdailynews/article/mediaoutreach-2024-3-27-vinfast-signs-partnership-agreements-with-15-dealers-in-thailand|title=VinFast signs partnership agreements with 15 dealers in Thailand|date=2024-03-27|access-date=2026-05-20}}</ref> By August 2024, just five months after the announcement, VinFast confirmed to Bloomberg that it was delaying its Thailand launch indefinitely, citing the ongoing price war in Southeast Asia's EV market and its inability to compete on price against established Chinese brands. Reports from Thai media indicated that VinFast Thailand had halted all local operations and that dealer partners were seeking compensation for their losses.<ref>{{cite web|url=https://paultan.org/2024/08/26/vinfast-reportedly-set-to-exit-thailand-market-ev-maker-said-earlier-it-was-delaying-opening-dealerships/|title=VinFast reportedly set to exit Thailand market|website=Paul Tan's Automotive News|date=2024-08-26|access-date=2026-05-20}}</ref>
VinFast entered the Philippines in May 2024, signing agreements with its first four dealer partners at a brand launch event in Manila.<ref>{{cite web|url=https://vinfastauto.us/investor-relations/news/vinfast-officially-signs-agreements-with-4-dealers-in-the-philippines|title=VinFast Officially Signs Agreements with 4 Dealers in the Philippines|website=vinfastauto.us|date=2024-05-31|access-date=2026-05-20}}</ref> Three dealerships opened in Manila in July 2024, and the VF 3, VF 5, VF 7, and VF 9 were launched between September and October 2024.<ref>{{Cite web|date=2025-01-22|title=VinFast Officially Launches VF 7 For Sale in the Philippines|url=https://www.manilatimes.net/2025/01/22/tmt-newswire/media-outreach-newswire/vinfast-officially-launches-vf-7-for-sale-in-the-philippines/2042523|website=The Manila Times}}</ref><ref>{{Cite web|date=2024-10-17|title=VinFast officially launches VF 5 electric SUV for sale in the Philippines|url=https://business.inquirer.net/485260/vinfast-officially-launches-vf-5-electric-suv-for-sale-in-the-philippines|website=INQUIRER.net}}</ref> At the 2025 Manila International Auto Show in April 2025, VinFast announced partnerships with six additional local distributors targeting over 60 new showrooms. As of March 2025, six dealer stores were in operation in the country.<ref>{{cite web|url=https://vinfastauto.us/investor-relations/news/vinfast-announces-partnership-with-six-distributors-to-open-over-60-new|title=VinFast Announces Partnership With Six Distributors to Open Over 60 New Showrooms in the Philippines|website=vinfastauto.us|date=2025-04-11|access-date=2026-05-20}}</ref>
=== India === In February 2024, VinFast broke ground on an integrated electric vehicle manufacturing facility in Thoothukudi (Tuticorin), Tamil Nadu, spanning 400 acres within a SIPCOT industrial estate, with a planned initial investment of US$500 million over five years and a total commitment of up to $2 billion. The plant has a design capacity of up to 150,000 vehicles per year and is expected to create approximately 3,000 to 3,500 local jobs.<ref>{{cite web|url=https://vinfastauto.us/investor-relations/news/vinfast-officially-breaks-ground-on-its-integrated-electric-vehicle|title=VinFast Officially Breaks Ground on Its Integrated Electric Vehicle Facility in India|website=vinfastauto.us|date=2024-02-25|access-date=2025-05-29}}</ref> The facility was inaugurated on 4 August 2025 by Tamil Nadu Chief Minister M. K. Stalin, initially operating on a CKD assembly basis with a starting capacity of 50,000 units per year. Battery manufacturing had not commenced as of 2026.<ref>{{cite news|last=Parthasarathy|first=Anirudh|date=2025-08-04|title=VinFast's first EV manufacturing plant in India inaugurated in Tamil Nadu|url=https://www.thehindu.com/news/national/tamil-nadu/tamil-nadu-cm-mk-stalin-inaugurates-india-first-vinfast-ev-manufacturing-plant-in-thoothukudi/article69892600.ece|work=The Hindu|access-date=2026-03-25}}</ref><ref>{{cite web|last1=Sathe|first1=Vipul|title=VinFast India assembly plant will start operations in June|url=https://www.motoroids.com/news/vinfast-india-assembly-plant-will-start-operations-in-june/|website=Motoroids|date=2025-04-26|access-date=2025-05-29}}</ref>
In January 2025, VinFast presented the VF 6 and VF 7 at the Bharat Mobility Global Expo in New Delhi as its first models for the Indian market, both in right-hand drive configuration.<ref>{{cite web|url=https://vinfastauto.us/investor-relations/news/vinfast-officially-enters-the-indian-market-with-the-launch-of-the-vf-6-and|title=VinFast Officially Enters the Indian Market With the Launch of the VF 6 and VF 7|website=vinfastauto.us|date=2025-01-18|access-date=2025-05-29}}</ref> VinFast also explored the possibility of a second manufacturing facility in Andhra Pradesh, for which an investment proposal of around ₹4,000 crore (US$480 million) was discussed, though no formal commitment had been announced as of 2026.<ref>{{cite web|last1=Gupta|first1=Uma|title=VinFast exploring Andhra Pradesh for second EV and battery plant in India|url=https://www.pv-magazine-india.com/2024/07/15/vinfast-exploring-andhra-pradesh-for-second-ev-and-battery-plant-in-india/|website=PV Magazine India|date=2024-07-15|access-date=2025-05-29}}</ref>
== Etymology == The name '''VinFast''' is an abbreviation of Vietnamese words:<ref name="VNF">{{cite web |author= |date= |title=What does the name VinFast stands for? |trans-title= |url=https://community.vinfastauto.us/vinfast-brand/what-does-the-name-vinfast-stands-for/ |access-date=25 October 2018 |publisher=VietnamFinance |language=vi}}</ref>
* '''''Vi'''ệt '''N'''am'' (''Vietnam'') * '''''Ph'''ong cách'' (''Style'', spelled Ph as F) * '''''A'''n toàn'' (''Safety'') * '''''S'''áng tạo'' (''Creativity'') * '''''T'''iên phong'' (''Pioneer'')
== Corporate leadership ==
=== Current === * Lê Thị Thu Thủy (Chairwoman since 2017){{fact|date=January 2026}} * Phạm Nhật Vượng (Chief Executive Officer since January 2024)<ref>{{Cite web |last=Cole |first=Dani |date=2024-01-08 |title=VinFast announces leadership changes |url=https://www.just-auto.com/news/vinfast-announces-leadership-changes/ |access-date=2026-05-27 |website=Just Auto |language=en-US}}</ref>
=== Previous CEO === * James DeLuca (2017–2021)<ref>reuters.com 3 October 2018: [https://www.reuters.com/article/business/fast-and-serious-vietnams-first-domestic-car-manufacturer-bets-big-idUSKCN1MB1WY/ ''Fast and serious - Vietnam's first domestic car manufacturer bets big'']</ref> * Michael Lohscheller (2021)<ref>vinfastauto.us 27 December 2021: [https://vinfastauto.us/investor-relations/news/vingroup-appoints-vice-chair-as-vinfast-global-ceo ''Vingroup Appoints Vice-Chair As VinFast Global CEO'']</ref> * Lê Thị Thu Thủy (2021–2024)<ref>reuters.com 6 January 2024: [https://www.reuters.com/business/autos-transportation/vietnam-ev-maker-vinfast-names-founder-ceo-replaces-cfo-2024-01-06/ ''Vietnam EV maker VinFast names founder as CEO, replaces CFO''] </ref>
== Products ==
=== Automobiles === In March 2026, VinFast restructured its vehicle lineup into three distinct brand lines: '''Lac Hong''' for ultra-luxury vehicles; '''VF''' for mass-market passenger electric vehicles; and '''Green''' for commercial and ride-hailing mobility products.<ref>{{cite web|url=https://vinfastauto.us/newsroom/press-release/vinfast-structures-its-automotive-portfolio-into-three-strategic-brand-lines|title=VinFast Structures its Automotive Portfolio into Three Strategic Brand Lines, Unveils Two New Ultra-Luxury Models|website=vinfastauto.us|date=2026-03-03|access-date=2026-05-20}}</ref>
==== Internal combustion engine vehicles ==== VinFast announced its first two models, the LUX A2.0 and the LUX SA2.0, at the 2018 Paris Motor Show. Both models were based on previous-generation BMW platforms with chassis modifications and were powered under licence by the BMW N20 turbocharged petrol engine. Production of both models started in 2019 and ended in 2022, when VinFast announced it would cease production of all internal combustion engine vehicles and focus exclusively on battery electric vehicles.<ref name="Autocar_2018">{{cite web|url=https://www.autocar.co.uk/car-news/new-cars/vinfast-launches-lux-a20-saloon-and-lux-as20-suv|title=Vinfast to launch Lux A2.0 and Lux AS2.0 saloon and SUV|author=Hilton Holloway|publisher=Autocar|date=2018-10-02|access-date=2018-10-25}}</ref><ref>{{cite web|date=2022-01-06|title=Vietnam's indigenous carmaker VinFast to stop making ICE vehicles in a year|url=https://auto.hindustantimes.com/auto/news/vietnams-indigenous-carmaker-vinfast-to-stop-making-ice-vehicles-in-a-year-41641443136580.html|access-date=2022-01-16|website=Hindustan Times}}</ref>
{| class="wikitable sortable" style="text-align: center;" |+Internal combustion engine vehicles |- !Image !Name !Introduced !Discontinued !Vehicle description |- |frameless|200x200px !LUX A2.0 |2019 |2022 |Executive sedan, based on the F10 BMW 5 Series.<ref name="Autocar_2018"/><ref name="paultan">{{cite web|url=https://paultan.org/2018/10/03/vinfast-debuts-lux-suv-and-sedan-at-2018-paris-motor-show/|title=VinFast LUX A2.0 sedan and LUX SA2.0 SUV debut in Paris|author=Matthew H Tong|publisher=Paul Tan's Automotive News|date=2018-10-03|access-date=2018-10-25}}</ref> |- |frameless|200x200px !LUX SA2.0 |2019 |2022 |Mid-size luxury crossover, based on the F15 BMW X5.<ref name="Autocar_2018"/><ref name="paultan"/> |- |frameless|200x200px !President |2019 |2022 |V8 variant of the LUX SA2.0 with additional luxury features.<ref>{{Cite web|url=https://e.vnexpress.net/news/business/companies/vinfast-enters-luxury-segment-with-new-suv-4158546.html|title=VinFast enters luxury segment with new SUV|website=VnExpress International}}</ref> |- |frameless|200x200px !Fadil |2019 |2022 |City car produced under licence from General Motors as a rebadged variant of the Opel Karl.<ref>{{cite web|url=http://europe.autonews.com/article/20180929/ANE/180929836/vietnams-vinfast-taps-european-suppliers-to-become-a-global-player|title=Vietnam's VinFast taps European suppliers to become a global player|author=Luca Ciferri|publisher=Automotive News Europe|date=2018-09-29|access-date=2018-10-25}}</ref> |}
==== VF and Green range (battery electric passenger vehicles) ==== {| class="wikitable sortable" style="text-align: center;" |+VF and Green range |- !Image !Name !Introduced !Markets !Vehicle description |- |frameless|200x200px !VF e34 ----Nerio Green |2021 |Vietnam, Indonesia |B-segment subcompact crossover SUV. VinFast's first electric vehicle, launched in Vietnam in December 2021. |- |frameless|200x200px !VF 3 |2024 |Vietnam, Indonesia, Philippines |Mini SUV designed initially for the Vietnam market. A-segment two-door SUV with seating for five.<ref>{{cite web|title=VinFast delivers first VF 3 electric cars to Vietnamese customers|url=https://e.vnexpress.net/photo/business/vinfast-delivers-first-vf-3-electric-cars-to-vietnamese-customers-4776658.html|website=VnExpress|access-date=2024-10-03}}</ref> |- |frameless|200x200px !VF 5 ----Herio Green |2023 |Vietnam, Indonesia, Philippines, Thailand |A-segment crossover city car. |- |frameless|200x200px !VF 6 |2024 |Vietnam, Europe, India |B-segment subcompact crossover SUV for the global market. |- |frameless|200x200px !VF MPV 7 ----Limo Green |2025 |Vietnam, Indonesia, Philippines, India |Mid-size MPV. |- |frameless|200x200px !VF 7 |2024 |Vietnam, Philippines, India |C-segment compact crossover SUV.<ref>{{cite news|title=VinFast bắt đầu bàn giao xe VF 7 cho khách hàng|url=https://dantri.com.vn/o-to-xe-may/vinfast-bat-dau-ban-giao-xe-vf-7-cho-khach-hang-20240330140628150.htm|access-date=2024-03-30|work=Dantri|date=2024-03-30|language=vi}}</ref> |- |frameless|200x200px !VF 8 |2022 |Vietnam, North America, Europe, Middle East |D-segment mid-size crossover SUV for the global market. VinFast's first model sold in the United States. Formerly known as the VF32 and VF e35. |- |frameless|200x200px !VF 9 |2022 |Vietnam, North America |E-segment full-size crossover SUV. Formerly known as the VF33 and VF e36. |}
==== Lac Hong range (ultra-luxury) ==== The Lac Hong brand line was established in 2025 as VinFast's ultra-luxury marque. The name references the Lạc Hồng legend from Vietnamese mythology. The range sits above the mainstream VF lineup and is produced in significantly lower volumes.
{| class="wikitable sortable" style="text-align: center;" |+Lac Hong range |- !Name !Introduced !Launched !Vehicle description |- !Lac Hong 900 LX |2025 |2025 (limited) |Full-size luxury electric SUV developed jointly with Canadian armoured vehicle manufacturer INKAS, built on the VF 9 platform and certified to VPAM VR ballistic and blast protection standards. A limited fleet was delivered to Vietnam's Ministry of Foreign Affairs in September 2025 to coincide with Vietnam's 80th National Day. |- !Lac Hong 900S |2026 |2027 (planned) |Full-size luxury electric sedan. Features a tri-motor powertrain producing 460 kW (625 hp), with one motor at the front axle and two at the rear. Rear-passenger focused interior with executive seating and a partition screen option.<ref name="lachange">{{cite web|url=https://vinfastauto.us/newsroom/press-release/vinfast-structures-its-automotive-portfolio-into-three-strategic-brand-lines|title=VinFast Structures its Automotive Portfolio into Three Strategic Brand Lines|website=vinfastauto.us|date=2026-03-03|access-date=2026-05-20}}</ref> |- !Lac Hong 800S |2026 |2027 (planned) |Full-size luxury electric SUV. Shares the tri-motor 460 kW (625 hp) powertrain with the 900S.<ref name="lachange"/><ref>{{cite web|url=https://www.electrive.com/2026/03/03/vinfast-formalises-lac-hong-ultra-luxury-car-brand-reveals-two-new-models/|title=VinFast formalises Lac Hong ultra-luxury car brand, reveals two new models|website=Electrive|date=2026-03-03|access-date=2026-05-20}}</ref> |}
==== Concepts ==== The '''VF Wild''' is a mid-size electric pickup truck concept unveiled at CES 2024 in Las Vegas in January 2024. Developed in collaboration with Australian design studio GoMotiv, the concept features suicide rear doors, a midgate expandable cargo bed, and all-wheel-drive assumed from its powertrain layout. VinFast had not confirmed production specifications, pricing, or a firm production start date as of May 2026; VinFast's Chairwoman stated the model could be ready for production "as early as 2026" at the time of its reveal, though no production announcement had followed.<ref>{{cite web|url=https://vinfastauto.us/newsroom/press-release/vinfast-unveils-new-electric-pickup-truck-concept-vf-wild|title=VinFast Unveils New Electric Pickup Truck Concept – VF Wild|website=vinfastauto.us|date=2024-01-09|access-date=2026-05-20}}</ref><ref>{{cite web|url=https://motorillustrated.com/ces-vinfast-is-aiming-at-the-ev-pickup-truck-with-the-vf-wild/127185/|title=VinFast is aiming at the EV pickup truck segment with the VF Wild|website=Motor Illustrated|date=2024-01-10|access-date=2026-05-20}}</ref>
<gallery widths="200" heights="130"> File:VinFast Wild at GJAW 2025 in Indonesia.jpg|VF Wild concept at the Gaikindo Jakarta Auto Week 2025 </gallery>
=== Electric scooters === VinFast produces a range of electric scooters and motorcycles for the Vietnamese and export markets. It has signed agreements with state-owned petrol distributor PV Oil for charging stations at existing service stations.<ref name="VIRVIN">{{cite web|url=https://www.vir.com.vn/vinfast-launches-electric-motorcycle-63542.html|title=Vinfast launches electric motorcycle|author=Ha Vy|publisher=Vietnam Investment Review|date=2018-11-03|access-date=2019-03-07|archive-date=2019-09-20|archive-url=https://web.archive.org/web/20190920203222/https://www.vir.com.vn/vinfast-launches-electric-motorcycle-63542.html|url-status=dead}}</ref>
The '''VinFast Klara''', VinFast's first electric scooter, launched in November 2018 with a range of {{convert|80|km|mi}} and a maximum speed of {{convert|50|km/h|mph}}. Components were supplied by Bosch Vietnam and the batteries by a joint venture with LG Chem. The Klara is offered in two versions with lead-acid and lithium-ion batteries respectively, and includes 3G and Bluetooth connectivity for remote locking and tracking.<ref name="VIRVIN"/><ref>{{cite web|url=https://tinhte.vn/threads/vinfast-ra-mat-xe-tay-ga-dien-klara-pin-lithium-ion-3g-gps-ban-ra-thang-nay.2872874/|title=VinFast ra mắt xe tay ga điện Klara|author=chuyengiaphaxe|website=Tinhte.vn}}</ref>
Other models in the electric scooter range include the Ludo, Impes, Klara S, Theon, Feliz, Tempest, Vento, and Evo200.
<gallery> File:Newone - VinFast Klara cream.jpg|VinFast Klara File:Newone - VinFast Ludo Blue.jpg|VinFast Ludo File:Newone - VinFast IMPES blue 03.jpg|VinFast Impes File:Newone - VinFast Klara S 02.jpg|VinFast Klara S File:Newone - VinFast Theon đen.jpg|VinFast Theon File:Newone-VinFast Tempest 02.jpg|VinFast Tempest File:Newone - VinFast Vento Times City 03.jpg|VinFast Vento File:Newone - Yellow VinFast Evo200 electric scooter.jpg|VinFast Evo200 </gallery>
=== Electric transit buses === [[File:Newone - VinFast VinBus Green Bus 8 & Bus 10 at VinHomes Global Gate 11.jpg|thumb|VinBus-branded models.]] VinFast produces low-floor electric city buses ranging from 6 to 12 metres in length. The 8-metre (EB8) and 12-metre (EB12) models have been certified to European standards. VinFast displayed the EB8 and EB12 at Busworld Europe 2025, marking its first entry into the European bus market.<ref>{{Cite web|last=staff|first=Editorial|date=2025-10-04|title=VinFast launches EB 8 and EB 12 e-buses at Busworld as Europe becomes its first international market for buses|url=https://www.sustainable-bus.com/news/vinfast-busworld-europe-2025/|access-date=2026-03-14|website=Sustainable Bus}}</ref> The EB10 model has been in operation in Vietnamese cities since 2021 under the VinBus brand.<ref>{{Cite web|last=Staff|first=Editorial|date=2021-04-16|title=First VinBus electric buses launched in Vietnam|url=https://www.sustainable-bus.com/electric-bus/first-vinbus-electric-buses-vietnam/|access-date=2026-04-20|website=Sustainable Bus}}</ref>
<gallery> File:Vinfast EB6.png|VinFast EB6 File:Vinfast EB8.jpg|VinFast EB8 File:Vinfast EB12.jpg|VinFast EB12 </gallery>
== Facilities == VinFast operates a {{Convert|335|ha|sqmi|abbr=}} greenfield factory at Cat Hai Island, Hai Phong. The factory produces cars and motorbikes and parts for both of them.<ref>{{Cite web|date=2020-11-18|title=Auto industry seeks to develop components segment|url=https://www.retailnews.asia/auto-industry-seeks-to-develop-components-segment/|access-date=2020-12-07|website=Retail News Asia|language=en-US}}</ref> In 2017, VinFast also acquired GM Vietnam's Hanoi factory (VIDAMCO).<ref>{{cite news|url=https://www.ft.com/content/a8da1eb4-7aa9-11e8-bc55-50daf11b720d|title=GM forms partnership with Vietnam's VinFast|website=Financial Times|date=28 June 2018}} {{subscription required}}</ref>
In September 2020, VinFast purchased the Lang Lang Proving Ground in Australia from General Motors.<ref>[https://thewest.com.au/lifestyle/motoring/holdens-lang-lang-proving-grounds-sold-to-vietnamese-start-up-vinfast-gmsv-to-continue-testing-on-site-ng-b881662137z Holden's Lang Lang proving grounds sold to Vietnamese start-up VinFast, GMSV to continue testing on site] ''The West Australian'' 9 September 2020</ref> VinFast purchased the former Holden proving ground for $30 million and settled on the purchase on 2 November.<ref>{{cite web|url=https://www.carexpert.com.au/car-news/vinfast-settles-on-lang-lang-proving-ground-with-30m-purchase-price|title=Vinfast settles on Lang Lang proving ground with $30m purchase price|website=CarExpert.com.au|date=3 November 2020 }}</ref> In October 2021, VinFast disbanded its local engineering operations and put the Lang Lang Proving Ground test track up for sale.<ref>[https://www.drive.com.au/news/holden-test-track-for-sale-again-for-second-time-in-12-months-agent-cbre-confirms/ Holden test track for sale again for second time] ''Drive.com.au'' 25 October 2021</ref>
VinFast will build a plant in Indonesia, targeting production in 2025 with an output of 30,000 to 50,000 units each year.<ref>[https://www.reuters.com/business/autos-transportation/ev-maker-vinfast-plans-asia-expansion-deliver-cars-indonesia-2024-filing-2023-09-13/EV maker VinFast plans Asia expansion, to launch Indonesia plant in 2026] ''Reuters.com'' 14 September 2023</ref>
== In the media == In August 2023, in tandem with its Nasdaq listing, VinFast launched an advertising campaign for the VF 8 featuring Joey Lawrence, reviving his catchphrase "Whoa!" from the TV series ''Blossom''. The campaign amassed a million views on YouTube within a week and was produced by Anaheim Studios.<ref>{{cite web|url=https://m.youtube.com/watch?v=pjH6d3VAKNk|title=VinFast: 'Woah'|publisher=YouTube|date=2023-08-21}}</ref> A second installment of the campaign, again starring Lawrence, was released in December 2023.<ref>{{Cite press release|last=VinFast|title=VinFast Unveils the Second Installment of "Changing Lanes" Campaign Starring Actor Joey Lawrence|url=https://www.prnewswire.com/news-releases/vinfast-unveils-the-second-installment-of-changing-lanes-campaign-starring-actor-joey-lawrence-302017331.html|access-date=2023-12-20|website=prnewswire.com}}</ref>
== Controversy and reception == In May 2021, VinFast reported one of its customers, Tran Van Hoang, a Vietnamese YouTuber, to the police over comments that the customer made on his YouTube video about the quality of his VinFast Lux A2.0 car. VinFast claimed that the video contained "untrue content" that "affected the reputation" of the company to increase views and interactions for his YouTube channel.<ref>{{Cite news | last= Pearson | first=James | date= 2021-05-04 | title=Vietnam's VinFast reports customer to police after 'untrue' YouTube complaints | language=en | work= Reuters.com | url=https://www.reuters.com/article/us-vietnam-vinfast-police-idUSKBN2CL0PC | access-date=2021-05-08 | archive-url=https://web.archive.org/web/20210508111427/https://www.reuters.com/article/us-vietnam-vinfast-police-idUSKBN2CL0PC | archive-date=2021-05-08}}</ref> On the video, Hoang complained about faults in the tire pressure sensor, the windshield wipers, the wireless phone charger, and squeaking doors. Vinfast alleged that Hoang lied about the number of times he went to the dealership for repairs, though Hoang claims to have evidence to support his statements.<ref>{{cite web|url= https://znews.vn/toi-san-sang-gap-dai-dien-vinfast-giai-quyet-dut-diem-moi-viec-post1212546.html| title= 'Tôi sẵn sàng gặp đại diện VinFast giải quyết dứt điểm mọi việc' |trans-title= 'I am ready to meet VinFast representative to resolve everything completely' | first= Hoàng | last= Phong |date= 2021-08-05 |language= vi |website= ZNews.vn | publisher=| accessdate= 2025-09-20}}</ref> Hoang claimed he hired lawyers and was ready to confront VinFast in the lawsuit. However, he suggested later, "The two sides should meet and share to have a common voice because the incident that happened was not expected by either side".<ref>{{Cite web | date= 2021-05-07 | title= Vietnam's VinFast Reports Owner To Police For 'Untrue' Criticisms About His Car In YouTube Video | url=https://www.carscoops.com/2021/05/vietnams-vinfast-reports-youtuber-to-police-for-untrue-criticisms/ | url-status=live | archive-url=https://web.archive.org/web/20210508111628/https://www.carscoops.com/2021/05/vietnams-vinfast-reports-youtuber-to-police-for-untrue-criticisms/ | archive-date= 2021-05-08 | access-date=2021-05-08 | website=Carscoops | language=en-US}}</ref>
VinFast received The Rising Star award from Autobest in 2022 and named among world's 100 most influential companies in 2024 by ''Time''.<ref>{{Cite web |date=2022-10-17 |title=The Rising Star |website=Autobest |url=https://autobest.org/the-rising-star/ |archive-url=https://web.archive.org/web/20240915054709/https://autobest.org/the-rising-star/ |archive-date= 2024-09-15}}</ref><ref>{{Cite web |date= 2024-06-25 |title=Vinfast Lands in Time Magazine's 2024 |website= Carguide.ph |url=https://www.carguide.ph/2024/06/vinfast-lands-in-time-magazines-2024.html |access-date=2024-09-15}}</ref>
In the US, the VinFast VF 8 has received negative reception after press cars became available to automotive journalists. A number of well-established and widely followed automotive journalists and car critics have given the VF8 poor reviews.<ref>{{cite web | date= 12 May 2023 | title=First Drive: The 2023 VinFast VF8 Is Unacceptable | website= Road & Track | url= https://www.roadandtrack.com/news/a43875030/2023-vinfast-vf8-first-drive-unacceptable/ | access-date=16 July 2023}}</ref><ref>{{cite web | date= 12 May 2023 | title=Critics Agree: The VinFast VF8 Is Very, Very Bad | website= Jalopnik.com |url= https://jalopnik.com/everyone-agrees-the-vinfast-vf8-is-very-very-bad-1850432490 | access-date=16 July 2023}}</ref><ref>{{cite web | date=17 May 2023 | title=First VinFast VF 8 Reviews Are Abysmal | website= kbb.com | url=https://www.kbb.com/car-news/first-vinfast-vf8-reviews-are-abysmal/ |publisher= Kelly Blue Book| access-date=16 July 2023}}</ref><ref>{{cite web | date=12 May 2023 | title=Review: Don't buy the 2023 Vinfast VF 8 City Edition | website= greencarreports.com | url=https://www.greencarreports.com/news/1139636_2023-vinfast-vf-8-city-edition-test-drive-review | access-date=16 July 2023}}</ref><ref>{{cite web | date=12 May 2023 | title=The 2023 VinFast VF8 Got Skewered in First Drive Reviews | website= thedrive.com | url= https://www.thedrive.com/news/the-2023-vinfast-vf8-got-skewered-in-first-drive-reviews | access-date=16 July 2023}}</ref> In a May 2023 review, ''Motor Trend'' said the vehicle is "nowhere near ready for the customer deliveries" due to many software glitches.<ref>{{cite web | date=12 May 2023 | title=2023 VinFast VF8 First Drive: Return to Sender | website= Motor Trend | url=https://www.motortrend.com/reviews/2023-vinfast-vf8-electric-suv-first-drive-review/ | access-date=16 July 2023}}</ref> ''Car and Driver'' said the vehicle has "immediately obvious flaws" that would make it difficult for VinFast to find customers.<ref>{{cite web | date=16 May 2023 | title=Tested: 2023 VinFast VF8 Proves Building Cars Is Hard | website= Car and Driver | url=https://www.caranddriver.com/reviews/a43878817/2023-vinfast-vf8-by-the-numbers/ | access-date=16 July 2023}}</ref>
In Vietnam, on 15 May 2024, after VinFast opened deposits for VF3 cars, there were 27,649 orders after 66 hours, setting a new record in Vietnam.<ref>{{Cite web|url=https://www.msn.com/vi-vn/news/other/vinfast-nh%E1%BA%ADn-27-649-%C4%91%C6%A1n-%C4%91%E1%BA%B7t-c%E1%BB%8Dc-xe-vf-3-ch%E1%BB%89-sau-66-gi%E1%BB%9D-m%E1%BB%9F-b%C3%A1n/ar-BB1mtgFL|title=Vinfast VF3| website=MSN.com |language= Vi|date=2024}}</ref>
On 21 May 2024, US regulators began an investigation into the crash of a VinFast VF 8 that resulted in the deaths of a family of four from Pleasanton, California. "The vehicle owner had complained about the performance of the SUV's automated steering, although it's not clear if that was a factor in the crash."<ref>{{Cite web|url=https://eastbaytimes.com/2024/05/22/feds-now-probing-electric-vehicle-crash-in-pleasanton-that-killed-family-of-four/|title=Feds now probing electric vehicle crash in Pleasanton that killed family of four|date=22 May 2024 | work= eastbaytimes.com| publisher=| accessdate=}}</ref>
In December 2024, a chassis designer who worked on development of VinFast cars came public as a whistleblower, claiming that VinFast ignored his recommendations to redesign parts that suffered from premature failure during prototype testing.<ref>{{Cite web |title= JLR whistleblower sacked for publishing concerns about VinFast cars |url=https://www.bbc.com/news/articles/c20nr3zdppjo |access-date=2024-12-19 |website= BBC.com |language=en-GB}}</ref> Reports indicate that engineers faced significant pressure to meet stringent deadlines, raising concerns about the safety and quality of VinFast vehicles. Allegations suggest that engineers were even locked in factories overnight to speed up production, potentially compromising vehicle safety.<ref>{{Cite web |last=Yeomans |first= Emma |date=2024-12-23 |title= Exposed: Engineers ‘locked in factory’ to finish ‘unsafe’ electric car |website= thetimes.com |language=en |url=https://www.thetimes.com/uk/transport/article/jaguar-landrover-electric-car-engineers-locked-factory-nx3b38njz |access-date= 2025-02-06}}</ref>
== See also == * Vinaxuki * StoreDot {{Portal bar|Cars|Companies|Singapore|Vietnam}}
== References == {{reflist}}
== External links == {{Commons category}} * {{Official website}} <!-- per WP:ELMINOFFICIAL, choose one official website only -->
{{Finance links | name = VinFast Auto Ltd. | bloomberg = VFS:US | google = VFS:NASDAQ | reuters = VFS.O | sec_cik = 0001913510 | yahoo = VFS }} {{Authority control}} {{VinFast}} {{Pinin Farina}} {{Automotive industry in Vietnam}} {{BMW}} {{Motorcycles}} {{Bus manufacturing companies of Asia}} {{Electric vehicles}} {{Authority control}}
Category:VinFast Category:Vietnamese brands Category:Companies of Singapore Category:Vehicle manufacturing companies established in 2017 Category:Car brands Category:Luxury motor vehicle manufacturers Category:Electric motorcycles Category:Battery electric vehicle manufacturers Category:Electric vehicle manufacturers of Vietnam Category:Car manufacturers of Vietnam Category:Bus manufacturers of Vietnam Category:Electric bus manufacturers Category:Companies listed on the Nasdaq Category:Special-purpose acquisition companies Category:2023 mergers and acquisitions Category:Vietnamese companies established in 2017