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Automobiles

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

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

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.

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