Vietnam EV manufacturers MOVE and VinFast accelerate local production and sourcing

MOVE, a Vietnamese electric‑vehicle brand launched in 2024, has quickly built three factories covering 100,000 m² and plans to start operations at its third plant in Hưng Yên in 2026. Backed by the parent company Kingsport, MOVE controls its supply chain, offers more than 10 EV models, and operates a 2‑in‑1 retail‑service network of over 300 stores nationwide, emphasizing home delivery and warranty support.

VinFast announced a goal to raise the localisation rate of its fully electric vehicles to 84 % by 2026, up from just over 60 % today. The company intends to source additional domestic components such as seats, wiring, lighting and braking systems, and aims to begin domestic battery‑cell production in 2026 after currently importing cells. VinFast’s plan includes expanding local supplier partnerships and securing output guarantees for Vietnamese parts makers.

Both firms see the government’s Net‑Zero targets as a catalyst for rapid growth in Vietnam’s EV market, while confronting challenges of competition, technology development and the need for larger domestic supply chains.