VinFast held a large-scale conference, inviting domestic businesses to participate in the supply chain

VinFast is entering an acceleration phase with the ambition to expand globally. The new sales target is adjusted to 280,000 vehicles in 2025, significantly higher than the original plan.

At the conference on June 9, Ms. Thai Thi Thanh Hai, Vice Chairman of Vingroup, Deputy General Director of VinFast said that the company aims to sell 280,000 vehicles in 2025 and expects to exceed this number. After the first 4 months of 2024, VinFast has handed over more than 44,600 electric vehicles, accounting for 37% of the electric vehicle market share in Vietnam, a sharp increase compared to the previous 18%.

 

If focusing mainly on the domestic market, VinFast can account for more than 50% of Vietnam's car market share this year, nearly reaching the historical milestone of 510,000 vehicles in the whole market achieved in 2022.

In the long term, VinFast aims to sell 400,000 vehicles in 2026, 530,000 vehicles in 2027 and reach 1 million vehicles by 2030. At the same time, the company is also expanding into Asia, with two plants under construction in Indonesia and India, each with an initial capacity of 50,000 vehicles per year. It is expected that the Indian factory will be put into operation in the third quarter of 2025, and Indonesia in early 2026. By early 2026, the total capacity of VinFast's four factories (Hai Phong, Ha Tinh, Indonesia, India) will reach about 800,000 vehicles/year.

An important part of VinFast's development strategy is to build a domestic supply chain, with the goal of raising the localization rate to 80% by 2026, compared to about 60% currently. This is considered a key factor to help VinFast control costs, optimize production and improve competitiveness when expanding to the international market.

In parallel with supporting production premises, VinFast is committed to cooperating in product consumption according to the plan agreed with domestic enterprises. Not stopping there, this electric vehicle company also plays a role in connecting domestic businesses with international partners to create favorable conditions for accessing advanced technology and learning from production experience, thereby improving competitiveness and gradually participating more deeply in the global supply chain.

At the event, Ms. Thai Thi Thanh Hai, Vice Chairman of Vingroup and Deputy General Director of VinFast emphasized her desire to accompany the Vietnamese business community: "VinFast expects to work with domestic partners to create a solid foundation, contributing to improving the competitiveness of Vietnam's automobile industry in the international arena".

The Conference on Strengthening Localization and Supplier System Development organized by VinFast is the largest event ever for businesses in the domestic supply chain. This is considered a golden opportunity for Vietnamese companies to access the global electric car production value chain, contributing to the formation and development of the supporting industry, towards the goal of becoming an important automobile manufacturing center of Southeast Asia.

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