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Automobiles

Vietnam's EV push fails to bring automakers aboard as sales falter

VinFast's lackluster performance discourages foreign rivals from entering market

VinFast, Vietnam's sole homegrown manufacturer of electric vehicles, sold about 2,200 units of EVs in its own country in the first eight months of this year.   © Reuters

HANOI -- Despite Vietnam's ambitious plans to expand its electric vehicle market with tax incentives, overseas automakers remain reluctant to make forays in light of the struggles by domestic peer VinFast.

At late October's Vietnam Motor Show in Ho Chi Minh City, only German automakers Mercedes-Benz and Audi unveiled plans to offer electric cars in the Southeast Asian country.

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