REGULAR INVESTORS – VinFast Auto Ltd, a prominent electric vehicle manufacturer, is set to commence operations at its new manufacturing plant in the central Vietnamese province of Ha Ting by July 2025, according to an email statement.
The new facility will primarily focus on producing the VF 3 and VF 5 models, with an initial production capacity of 300,000 units per year. VinFast has ambitious plans to double this production target in the future.
Covering more than 36 hectares, this plant will be the fifth vehicle assembly facility for VinFast, aimed at serving both domestic and international markets.
Challenges and Expansion
Despite facing significant losses since shipping its first vehicles to the U.S. at the end of 2022, VinFast continues to strive towards becoming a global brand amidst fierce competition from established automakers and rapidly growing Chinese companies producing affordable electric vehicles.
VinFast’s first plant, located in the northern port city of Haiphong, began operations in 2019. The company plans to open a plant in India in the first half of next year and start building an assembly plant in Indonesia in July. The opening of a plant in North Carolina, originally delayed by three years, is now scheduled for 2028.
Domestic and International Markets
VinFast started delivering the affordable mini-SUV VF 3 to the domestic market during the summer and began accepting orders for the VF 3 in the Philippines in September. Recently, the company also initiated deliveries of the VF 5 model to Indonesia.
The project is being developed by Vinhomes Ha Tinh Industrial Park Investment JSC, a unit of VinFast’s parent company, Vingroup. The operations of this project will be carried out by VinFast under a long-term lease agreement.
