Vinfast, Vietnam’s first domestic automaker to debut two new electric vehicle models

Vinfast, Vietnam’s first domestic automaker, announced Monday that it will debut two new electric vehicle models in North America and Europe early next year, as it seeks to break into the lucrative but congested industry.

The company announced on Monday that it had commenced operations in the United States, Canada, France, Germany, and the Netherlands, and that it had hired people and created offices in these “important areas.” Vietnam will produce all of the automobiles.

The carmaker is a subsidiary of Vingroup, Vietnam’s largest private corporation, which is controlled by the country’s wealthiest man, a media-shy tycoon who began his career selling dried noodles in Ukraine.

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The company said it had hired professionals from Tesla, BMW, and Toyota to help it prepare for its debut into global markets.

The company launched its domestic electric car model, the VF e34, in January and has received approximately 25,000 pre-orders. According to Forbes, Vingroup CEO Pham Nhat Vuong is worth an estimated $7 billion.

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