Vietnam's VinFast calls Philippines 'important' for its global expansion

Head of automaker's local unit says the country has 'a lot of room to grow'

Cao Ngoc Nguyen Duy, the chief executive of VinFast Philippines, says the automaker's VF7 is priced to entice Filipino drivers to give up the internal combustion engine. (Photo by Ramon Royandoyan)

RAMON ROYANDOYAN, Nikkei staff writer

October 24, 2024 20:01 JST

MANILA -- The Philippines and its relatively nascent electric vehicle market offer VinFast an important growth opportunity, the head of the Vietnamese automaker's local unit said.

VinFast, the automotive arm of the Vingroup conglomerate, formally entered the Philippines in June, signing contracts with four dealers, three in Metro Manila.