Vietnam's Vinfast committed to selling EVs to US despite challenges, intense competition
Vietnamese automaker Vinfast has plunged right into the crowded and hypercompetitive U.S. auto market, gambling that if it can sell its electric vehicles to finicky Americans, it can succeed anywhere
HAIPHONG, Vietnam (AP) — Vietnamese automaker Vinfast plunged right into the crowded and hypercompetitive U.S. auto market, gambling that if it can sell its electric vehicles to finicky Americans, it can succeed anywhere.
So far, that gamble has yet to pay off. Its CEO Le Thi Thu Thuy said in a recent interview with The Associated Press that the U.S. market is “difficult.” It has sold just 2,009 electric vehicles in the U.S., less than 1% of total of total U.S. EV sales, according to Motorintelligence.com.
Worldwide, Vinfast sold just 19,562 EVs from April to September, well below its 2023 target of 50,000.
But Vinfast is committed to riding the wave of countries trying to switch to EVs to cut emissions, Thuy said while speaking with The Associated Press at Vinfast's sleek headquarters in Hanoi.
