VinFast makes a miracle for automobile industry

Prime minister visiting Vinfast factory

The factory is based on an area of 500,000 square metres of the complex’s total area of 335 hectares in Dinh Vu-Cat Hai Industrial Park and is equipped with modern technology. In it first phase, the factory will have a capacity of 250,000 cars per year, which the next phase will double when it comes online in 2025. That means 38 Vinfast cars will be churned out every hour.

Almost a third of the plant site has been set aside for potential supporting industry partners seeking to put up their own plants. VinFast targets using 60 per cent local parts in its cars and 100 per cent for electric motorbikes.

It will deliver the first Fadil cars to customers starting from June 17. The Fadil is a small urban crossover utility vehicle (CUV) which will come in six colours. Its sedans and SUVs will be delivered from the end of July.

The inauguration ceremony of the VinFast factory

Praising the efforts of the first Vietnamese brand, Prime Minister Nguyen Xuan Phuc said that building the Vinfast factory in only 600 days is an amazing achievement. "The success of VinFast today is a feat for the entire Vietnamese automobile industry, helping the country reach the global level and affirming that the private sector is an important driving force," said the PM.

“About 21 months ago, the name VinFast could not even be found on Wikipedia. Starting from zero, there are more than 8.8 million results on Google today. Newspapers, analysts, and the online community are all talking about VinFast,” he added.

The prime minister sitting on a Vinfast car

Deputy chairman and CEO of Vingroup Nguyen Viet Quang said that in 21 months the company launched a line of electric motorcycles and three car models, including a sedan, and an SUV.

The company is still working at a fast clip, and is currently designing 12 new models of cars and electric scooters to release this year and the next.

“Within such a short time frame, VinFast has established new records in the world’s automobile industry,” Quang said.

Quang said VinFast had also established a new feat in the automotive market by taking 10,000 orders before having released a vehicle.

CEO of VinFast James DeLuca said Vietnam was moving in the right direction, making the right conditions for the high sales growth of cars.

He said the country’s GDP per capita was increasing along with the living standards of most households, creating conditions for more people to start buying cars.

Vietnam’s car ownership rate is now extremely low at just 23 cars per 1,000 people. There is a huge opportunity for the domestic automobile industry to grow, according to DeLuca.

VinFast will soon hand over its first cars, beating its own schedule by about two months. VinFast’s Fadil cars will be handed over from June 17 this year, while the Lux A2.0 and Lux ​​SA2.0 will be delivered starting at the end of July.

VinFast leaders receiving merits from the prime minister

Milestones during 21 months of building VinFast

September 2017: Ground-breaking ceremony of the complex in Dinh Vu-Cat Hai;

October 2017: Released the designs of its upcoming models;

October 2018: Showcased two cars at the Paris Motor Show 2018;

November 2018: Inaugurated the electronic bike manufacturing factory and launched VinFast Klara motorbikes;

March 2019: Held the successful trial manufacturing of Lux SA2.0 and sent cars to be tested overseas;

June 2019: Inaugurated the VinFast factory.