VinFast to double EV capacity despite sluggish demand

Vietnamese company bets on $10,000 EV to beat Chinese rivals on price

20250106N Vinfast VF3

Vinfast released the VF3 electric vehicle in 2024. (Photo by Yuji Nitta)

YUJI NITTA, Nikkei staff writer

HANOI -- Vietnamese electric vehicle maker VinFast is set to more than double its global production this year, even as it faces an uncertain market environment marked by slowing demand and intense price competition.

VinFast is building its second Vietnamese plant in an industrial park located in the central province of Ha Tinh. The site is set to begin operations in July this year.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.