Vietnam’s richest man and billionaire Pham Nhat Vuong, who is charge of the new automaker, is so intent on exporting electric vehicles to the US in 2021 that he’s using his own funds to achieve it.
In Vietnam, VinFast Trading and Production LLC has formidable competition from established foreign players such as Toyota, Ford Motor Co and Hyundai. VinFast will also have to overcome an even more daunting task of winning over demanding consumers in the US and other developed markets, where emissions and crash standards are stringent.
VinFast must clear several high hurdles to compete outside Vietnam, said Michael Dunne, chief executive officer of automotive consultant ZoZo Go LLC, which specializes in the Asian market. Dunne said VinFast will need to produce at least 100,000 vehicles a year to be cost competitive, develop a global brand and establish a parts and services network.
The company targets production of as many as 500,000 vehicles a year by 2025. It also makes electric scooters.
'The hatchback retails for the equivalent of US$17,000 (RM70,800), while the four cylinder sedan goes for US$47,400 (RM197,000) and its SUV is offered at US$60,400 (RM252,000)'... i wondering who will buy this expensive car in Vietnam?
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