VinFast Autos

Company Snapshot: VinFast Autos

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Company Overview

VinFast Auto Ltd. (NASD: VFS) designs and manufactures electric vehicles (EVs) and e-buses that it sells directly to customers in the passenger and commercial markets across Asia, Europe, and North America. VinFast is also developing a charging network, and as of 3Q23, the company disclosed that it currently has >107,000 charging points (AC and DC) that are primarily located in Vietnam, although the company also has partnerships in the U.S.. VinFast currently manufactures all of its vehicles in Vietnam and, according to management, has a maximum annual manufacturing capacity of up to 300,000. Through its vertically integrated manufacturing approach, VinFast benefits from large-scale operations, highly automated manufacturing facilities, lower cost of production, favorable tax Incentives, cheaper labor and operating costs, and established trade agreements. The company has disclosed plans to open up a new manufacturing facility in North Carolina, U.S., by "mid-2025," which will result in VinFast increasing its annual production capacity by 150,000, to a total capacity of 450,000, according to management. The company currently has roughly 125 showrooms globally for EVs, with showrooms now in California as well.