Skipping Malaysia, Vietnam’s VinFast plans to expand to 4 more European markets in 2023

Vietnam’s very own automaker, VinFast is quickly expanding its horizon into a few major Western markets. Though Vietnam’s equivalent of Proton/Perodua will only arrive in North America, Germany, France, and the Netherlands by mid-2022, their ambitious plans only continue to grow.

VinFast has hired former Opel CEO Michael Lohscheller as its CEO and will debut two battery-electric crossovers (BEVs), the VF e35 and the 7-seater VF e36 in the aforementioned European countries, North America, and Vietnam in 2022.

Also read: Outgrowing Malaysia, Vietnam's VinFast will launch EV models in US and Europe next year

The two BEVs are designed by famed Italian design house, Pininfarina, the same studio that penned multiple iconic Ferraris. Some have called VinFast “Vietnam’s answer to Tesla” with some equally questionable customer feedback practices.

Also read: In Vietnam, VinFast will call the police on customers who criticise their cars online

Besides the three major Western European markets, VinFast is also planning to launch in the Italian, Scandinavian, Swiss, and Austrian markets for the second step in its European strategy by 2023.

According to VinFast’s B2B Sales Vice President, Emiel Hendriksen, VinFast will initially rely on a direct distribution model in Germany, France, and the Netherlands, based on showrooms. However, for the other European markets, the carmaker would consider an agency model for sales.

VinFast has sold about 30,000 vehicles domestically in 2020 while the VinFast Fadil is the country’s most popular car in 2021 so far. It also aims to sell 15,000 electric vehicles (EVs) in 2022.

Also read: VinFast forges partnerships to make Vietnam ASEAN’s EV hub

Going from rebadging older BMWs and Opels to selling its own homegrown EV in 3 years is no mean feat. Aside from making its presence in Europe and North America, VinFast is also looking to expand to its neighbours in Southeast Asia.

Also read: VinFast skips Malaysia for Indonesia; 3 models, EV included

It could even be launched in Indonesia as the company filed intellectual rights in the archipelago for 3 models including the VF e35. Could Vietnam’s own automaker achieve Proton and Perodua struggled in the West?

Also read: How many years before Vietnam overtakes Malaysia’s car industry? About 10