VinFast Auto Ltd. is a pure-play electric vehicle manufacturer focused on the design, development, and production of EVs, e-scooters, and e-buses. Founded in 2017 as a subsidiary of Vingroup, Vietnam's largest private conglomerate, the company initially produced internal combustion engine vehicles before transitioning exclusively to electric mobility in 2022. VinFast's business model centers on manufacturing a comprehensive lineup of electric passenger vehicles, ranging from mini-cars to full-size SUVs (such as the VF 3, VF 5, VF 8, and VF 9), alongside electric scooters and commercial e-buses. The company generates the vast majority of its revenue from vehicle sales, which accounted for over 90% of its total revenues in 2024, supplemented by aftermarket services, spare parts, and innovative battery leasing programs. Geographically, VinFast maintains its primary manufacturing operations and operational headquarters in Hai Phong, Vietnam, utilizing a highly automated production facility. While Vietnam remains its largest market by delivery volume, the company has aggressively expanded its footprint internationally, establishing direct-to-consumer sales and dealership networks in the United States, Canada, Europe, and emerging markets like the Philippines and Indonesia. Competitively, VinFast leverages the extensive financial and technological backing of its parent company, Vingroup, to rapidly scale production and expand its global distribution network, positioning itself as an emerging challenger in the global transition to sustainable transportation.
