VinFast, the electric vehicle (EV) arm of Vietnamese conglomerate Vingroup, will attend international motor shows in Thailand and Canada, and attempt to break into the African market this year.
Thailand
In a Friday statement, VinFast announced its upcoming participation in the 45th Bangkok International Motor Show (BIMS 2024) from March 27-April 7 and its official launch in the country.
At BIMS 2024, VinFast will introduce its complete range of electric vehicles for the first time in Southeast Asia, including the VF 3, VF 5, VF e34, VF 6, VF 7, VF 8, and VF 9, covering the A-SUV to E-SUV segments. The company will also showcase its electric pickup concept, the VF Wild, after the debut of the product in January.
Notably, the VF 5, VF e34, VF 6, VF 7, VF 8, and VF 9 on display will be right-hand drive versions, specifically tailored for the Thai market. This marks the second time VinFast has introduced right-hand drive EVs, following their debut at the Indonesia International Motor Show (IIMS) 2024 in February.
Thailand is the leading EV market in Southeast Asia, with rapidly growing demand driven by a series of government support policies, VinFast said. Capitalizing on this rapid transition, VinFast aims to expand quickly in the Thai market and solidify its position as a pioneer in the development of green and sustainable mobility globally.
Africa
Also on Friday, VinFast said it had signed a distribution agreement with Jospong Group of Companies for the Ghanaian and West African market. The deal with the leading multi-industry conglomerate of Ghana marks the Vietnamese EV pioneer's initial foray into the African market, solidifying its position as a frontrunner in the global shift towards sustainable transportation.
Under this agreement, Jospong will distribute VinFast’s entire range of vehicles, including electric cars, e-scooters, e-bikes, and electric buses, throughout Ghana and West Africa. Jospong also plans to deploy public charging infrastructure across the country to support EV penetration.
In addition to the announced distribution agreement, Vingroup signed a MoU with Jospong Group. Vingroup and Jospong will work together to identify and pursue business opportunities in areas of mutual interest, including EVs, taxi operations, public transportation solutions, education, hospitality, and real estate development.
Canada
In a Thursday announcement, VinFast said it would participate in the Vancouver International Auto Show (VIAS) 2024 on March 19-24. VinFast will showcase four EV models at VIAS 2024: the VF 6, VF 7, VF 8, and VF 9.
The EV market in Vancouver is poised for significant growth, with residents increasingly interested in EVs for their environmental benefits and fuel cost savings, according to VinFast.
“We believe our comprehensive offerings perfectly align with growing demand and interest for modern, convenient, and environmentally friendly transportation in Vancouver and the country,” said VinFast Canada deputy CEO Robert Muller.
VinFast earned $1,096.9 million from vehicle sales in 2023, up 111.3% year-on-year. The firm reported that it delivered 34,855 EVs and 72,468 e-scooters last year, including 13,513 EVs and 24,309 e-scooters in the last quarter. VinFast recorded total revenues of $1,198.2 million in 2023, up 91.1% year-on-year. The figure was primarily comprised of revenue from EV sales, it highlighted.