Vietnam's Vingroup aims to capture 1% of US auto market with EVs

Group founder Pham Nhat Vuong to personally spend $2bn on sales blitz

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A production line at VinFast's auto plan in Hai Phong, which started operating in 2019. The group sold roughly 30,000 cars in Vietnam in 2020. © Reuters

TOMOYA ONISHI, Nikkei staff writer

HANOI -- Top Vietnamese conglomerate Vingroup aims to reach annual electric vehicle sales of 160,000 to 180,000 in the U.S. -- the equivalent of 1% of all automobiles, electric or otherwise, sold in the country.

Chairman and founder Pham Nhat Vuong announced the goal at the annual general meeting in late June, according to local media reports.

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