VinFast billionaire Pham Nhat Vuong, Vingroup Chairman, plans to invest $6 billion in an electric vehicle factory in the US. 

A number of electric car manufacturers in Vietnam plan to launch electric vehicle models accompanied by preferential policies for users this year. Experts predict that 2022 will see a boom in the Vietnamese electric car market.

As many as 299,800 cars were domestically manufactured and assembled in Vietnam in 2021, a 9.1 percent increase compared with 2020, according to the General Statistics Office (GSO).

Vietnam’s plan to slash luxury tax and registration fees for electric cars is expected to push the development of the domestic electric vehicle market, which is currently at the starting line.

The first quarter profit of Vingroup, owned by Vietnam’s richest man Pham Nhat Vuong, increased five times over the same period last year thanks to three major real estate projects and high growth in sales of VinFast cars and smartphones.

VinGroup's investment in the auto industry is a great challenge, coming from high aspirations and showing a sense of responsibility to the country.

Vingroup’s billionaire Pham Nhat Vuong is taking an unexpected step entering the world's largest electric car market.

Hybrid electric vehicles (HEV), which have maximum fuel economy, low emissions and smooth operation, are suited to Vietnam’s climate and transport conditions, experts say.

Making solid-state batteries is a prerequisite for the development of the electric vehicle (EV) market, helping create smart cars which can run thousands of kilometers after just minutes of battery charge.

Following success in the domestic market, many Vietnamese businesspeople are seeking profits from outward investment projects.

Vietnam’s industry has seen the fastest upward movement in ranking in global competitiveness among Southeast Asian countries, coming closer to the top 4 ASEAN countries.

Vietnamese manufacturers are taking steps to become the ‘new Detroit of Asia’.

As part of a new package to help the automobile market stay afloat after this year’s global woes, locally-manufactured vehicles will benefit from a massive cut in registration fees, 

With the agreement announced on May 4, Vsmart has become the second brand of Vingroup cooperating with a leading Italian industrial designer.

The crucial ventilating equipment used to save the lives of coronavirus patients are becoming a commodity much sought after by many countries, including Vietnam.

Vingroup announced on April 3 that it would produce ventilators and body thermometers to serve the domestic market amid the complicated developments of the COVID-19 pandemic.

The US-based General Motors (GM) has stated it will stop selling Chevrolets this year and shut down its factory in Thailand from which Chevrolets are exported to Vietnam.

The government will soon issue the legal document amending Decree 116 on the conditions for manufacturing, assembling, and importing cars, and providing car maintenance services.

VinFast Trading and Production LLC, a subsidiary of Vietnamese conglomerate Vingroup, has reported it had received over 17,000 orders for VinFast cars, and 50,000 others for electric motorcycles in 2019.

The Vietnam Association of Motorcycle Manufacturers (VAMM) reported gloomy figures for the last months of 2019, a time when the industry typically expects a boom in sales revenue.