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In the vast landscape of electric automobiles, VinFast emerges as an intriguing actor, often little known in Europe, but whose solidity on the market Vietnamese is undeniable. Since its creation in 2017, this company has conquered the roads of its home country with a wide range of vehicles, ranging from cars to electric motorcycles. While pursuing its objective of expansion in the European sector, VinFast continues to stand out thanks to its strong financial support and its ability to adapt in a rapidly evolving market.
VinFast, the Vietnamese car manufacturer, is struggling to establish itself on the European market, while it is enjoying real success in its native land. The company, founded in 2017, is distinguished by a range of vehicles electric which is increasingly appealing to Vietnamese consumers. This article explores the challenges faced by VinFast in Europe and the undeniable success it is experiencing in Vietnam.
A laborious European conquest
Since its arrival on the European market in 2022, VinFast tried to break through with several models, notably the SUV VF8. Despite established partnerships for after-sales service and a strong ambition to compete with giants like Tesla And BYD, the company is struggling to attract European customers. Sales remain weak, and the difficulties associated with charging electric vehicles leave many motorists perplexed.
Marketing of the VF8 SUV has been launched in France, but deliveries have been slow, leading to disappointment among the first buyers. Additionally, incompatibility with fast charging networks in Europe further complicates VinFast’s rise in this competitive market. Future prospects therefore seem uncertain for the manufacturer on the old continent.
A remarkable performance on the Vietnamese market
On the other hand, in Vietnam, VinFast asserts its leading position in the vehicle market electric. In September 2024, the company recorded the delivery of more than 9,300 cars, a significant increase in 50% compared to the previous year. This growth makes VinFast the best-selling brand in its country of origin, thus managing to surpass its national and international competitors.
The support of Pham Nhat Vuong, Vietnam’s richest man, proves to be a major asset to the company. Thanks to this financial support, VinFast was able to diversify its range of products, offering not only electric cars, but also a electric bus, of the electric motorcycles and a electric bike to meet the diverse needs of consumers.
A favorable market context
The Vietnamese electric vehicle market is booming expansion. According to the data, Vietnam has become one of the few countries in the world where the number of electric vehicles exceeds that of combustion engine vehicles. This context supports VinFast’s ambitions and illustrates consumers’ enthusiasm for more sustainable alternatives.
VinFast’s strategy to explore new markets, particularly in North America and Asia, shows its desire to establish itself as a key player in the global automotive industry. While the company continues to evolve and assert itself in its original market, its integration into Europe remains a challenge to overcome.
Future prospects for VinFast
While VinFast struggles to find a place in the European market, its success in Vietnam has laid a solid foundation for its future development. Its product diversification and powerful financial backing could play a crucial role in its ability to overcome the obstacles faced, particularly in foreign markets.
The construction of dedicated production facilities and charging centers could also facilitate the implementation of its vehicles in Europe. However, the brand will have to adapt to the specific requirements of this market to hope for long-term success.
In short, VinFast proves to be an automobile manufacturer that is both ambitious and resilient. Although it is still little known in Europe, its dominant position on the Vietnamese market demonstrates the manufacturer’s potential. The rest of his international adventure will be determined by his ability to overcome challenges while benefiting from the support he receives on his land.