VinFast expands global presence and leads Vietnam's EV market growth

VinFast is accelerating its global and domestic operations following the appointment of Pham Nhat Quan Anh as Chairman and CEO. In the United States, the company is strengthening its infrastructure by finalizing franchise agreements with three dealers in California and Pennsylvania to provide sales and after-sales services. Additionally, VinFast is exploring new product strategies in India, engaging with suppliers regarding two electric vehicle models, the VF X and VF Y, specifically designed for that market.

In Vietnam, the automotive market is undergoing a significant shift. VinFast's electric vehicle sales grew by 72% in the first half of 2026, contributing to a broader trend where electric and hybrid vehicles accounted for 44% of total market sales. This growth is supported by government incentives, including extended special consumption tax reductions and 0% registration fees for battery electric vehicles. However, the market is also facing intense competition from imported Chinese vehicles and price pressures, forcing dealers to increase promotions and marketing expenditures.