In 2017, Vietnam’s leading conglomerate, Vingroup, led by billionaire Pham Nhat Vuong, set out on an ambitious new mission. Their latest creation, VinFast, wasn’t just another automaker. Its name carried the essence of “Vietnam,” “style,” “safety,” “creativity,” and “pioneer,” with a vision to engineer world-class vehicles capable of standing toe-to-toe with the industry’s biggest players.
That same year, VinFast broke ground on its manufacturing plant on Cat Hai Island, near Hai Phong. The scale was monumental — 828 acres — and the target was audacious: complete it in record time. In just 21 months, the state-of-the-art facility stood ready, capable of producing up to 500,000 cars and 1 million electric scooters annually. It was a world record for construction speed and a clear statement that VinFast was here to move fast — literally and figuratively.
In 2018, at the Paris Motor Show, VinFast made its first international splash. The Lux A2.0 sedan and Lux SA2.0 SUV — both designed by Italian powerhouse Pininfarina and chosen through a public vote of more than 60,000 Vietnamese — rolled onto the stage as symbols of national pride. But VinFast’s strategy went far beyond showmanship. That same year, it secured exclusive rights to distribute Chevrolets in Vietnam and took over GM Vietnam’s local plant, laying the groundwork for future growth.
VinFast LUX A2.0
VinFast LUX SA2.0
By 2019, VinFast’s momentum was undeniable. Test batches of its vehicles were shipped for quality validation worldwide, and both Lux models earned 5-star ASEAN NCAP safety ratings. The VinFast Fadil, launched that year, quickly became a top seller. The company also expanded into electric scooters with the Ludo, Impes, and Klara models — dominating Vietnam’s e-scooter market by 2020.
In 2021, VinFast took a decisive leap into electrification with the VF e34 compact SUV, along with the premium VF 8 and VF 9 models. Just a year later, in 2022, it made the bold announcement that by 2023, it would go fully electric—ending all internal combustion engine (ICE) production. Pre-orders opened for the VF 8 and VF 9, and showrooms began popping up across the United States, Canada, and Europe.
VinFast’s ambitions soared higher with plans for a $4 billion EV and battery plant in North Carolina, expected to produce 150,000 vehicles annually. It was a landmark moment: Vietnam’s homegrown automaker was stepping firmly into the global arena.
In late 2023, VinFast debuted on NASDAQ, quickly becoming one of the highest-valued automakers in the world — behind only Tesla and Toyota — thanks in part to a limited public float. Founder Pham Nhat Vuong also launched V-Green, a charging network company targeting up to 50 countries, with an investment of $404 million, to support VinFast’s global EV presence.
Yet, the EV market was proving turbulent. In early 2024, VinFast delayed production at its North Carolina plant to 2028 to conserve capital and redirected focus to Asia. It announced two new assembly plants: one in India, slated for mid-2025, and another in Indonesia by October 2025, together aiming for an annual capacity of around 150,000 vehicles.
Back home, VinFast launched Xanh SM, an electric taxi service that quickly became Vietnam’s leading EV taxi provider, deploying thousands of vehicles across major cities. The company also continued to add new models to its lineup, including the the VF 8 (2022), VF 9 (2023), VF 5 (2023), VF 6 (2023), VF 3 (2024), VF 7 (2024), the Minio Green (2025), Limo Green (2025).
VinFast VF 8
VinFast VF 9
VinFast VF 5
VinFast VF 6
VinFast VF 3
VinFast VF 7
VinFast Minio Green
VinFast Limo Green
In 2025, VinFast marked another milestone with the debut of its new factory in India strengthening its manufacturing footprint in Asia. This move positions the company to better serve regional markets and expand its customer base across the continent.
Looking ahead, VinFast is preparing to launch its VF 6 and VF 7 models in India, signaling the next phase in its electric lineup. With its roots in Vietnam and eyes set on the world, VinFast’s journey continues to be one of bold ambition, rapid action, and unshakable determination.
Also Read: VinFast VF7 Electric SUV Set to Debut in India: Everything You Need to Know
