Vingroup charges into Asian EV brand race in U.S. and Europe

Vietnamese conglomerate weighs IPO to raise profile little known abroad

A VinFast electric vehicle: The company is aiming to eventually sell 160,000 to 180,000 vehicles a year in the U.S. (Photo courtesy of VinFast)

TOMOYA ONISHI, Nikkei staff writer

October 28, 2021 03:24 JST

HANOI -- Vingroup, Vietnam's largest conglomerate, is pulling out all the stops as it prepares to break into Western auto markets with its first electric vehicles, just a few years after its first foray into auto manufacturing.

Two electric models from subsidiary VinFast will be on display at next month's Los Angeles Auto Show in California. The company will begin taking orders in the U.S. and Europe in the first half of next year. Pricing and other details are expected to be announced on Nov. 17.