Vietnam’s VinFast looking to start production in Germany, after launching in the US
CY Foong · Jan 10, 2022 03:00 PM
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In just four years, VinFast has grown from building rebadged BMWs and Opels for the Vietnamese market to producing electric vehicles (EVs) that will be sold in America, Europe, and possibly Indonesia.
One of the first owners of the VinFast VF e34 in Vietnam
Currently, their first EV, the VF e34 is assembled at the Hai Phong plant on the northeast coast of Vietnam. However, for its global expansion, it is eyeing to set up a production facility in the U.S.A. and in Europe.
A few units of the VinFast VF e34 rolling off the assembly plant at Hai Phong
In the latter, VinFast is aiming to set up a plant in Germany and is working together with the economic promotion agency, Germany Trade and Invest (GTAI). Perhaps France wasn’t as enticing.
VinFast's own rebadged BMW X5 outside the Hai Phong automotive campus
In a statement by the Vietnamese automaker, the factory would build VinFast electric cars and buses but it did not give a target date for when the factory would open. VinFast’s ex-CEO, Michael Lohscheller, formerly the head of Opel, created a shortlist of 5 potential locations for the German plant.
VinFast's model line-up at CES 2022
However, Lohscheller stepped down unexpectedly last month for personal reasons and his role was taken over by Le Thi Thu Thuy. She said that since Europe is one of the most important markets for VinFast, it’s vital “to have the factories close to the markets to really attract customers”.
VinFast VF5, the entry model which could appeal to European buyers thanks to its small size
The European plant could build up to 250,000 vehicles a year, with production starting around 2025. VinFast isn’t going to wait another 3 years for a European debut though and plans to launch sales of EV models imported from Vietnam in Germany, France, and the Netherlands in spring 2022.
Instead of franchised dealers, VinFast would be using a distribution model similar to Tesla by selling its models online and through company-owned stores.
At the 2022 Consumer Electronics Show (CES) in Las Vegas, VinFast introduced 5 new models that each represent the A- to E-segments which will be arriving in Europe and America over the next few years.
For now, only the VF8 and VF9 (formerly the VF e35 and VF e36 respectively) were launched with prices starting from USD 41,000 (~RM 172k) for the D-segment VF8 and from USD 56,000 (~RM 235k) for the E-segment VF9. Both prices exclude batteries which will be leased to owners.
Traded advertising for a career that fits his passion for cars. Enjoys spotting cars during his free time and has a soft spot for Japanese Kei cars but drives a thirsty manual sedan.
