DUBAI: In October 2024, Vietnam celebrated a historic milestone: its homegrown automaker, VinFast, became the best-selling car brand in the country for the first ten months of the year. Remarkably, this achievement came just two years after the company’s bold pivot to becoming a pure electric vehicle (EV) manufacturer. By surpassing foreign gasoline-powered rivals, VinFast not only redefined its trajectory but also propelled Vietnam’s automotive industry into a new era.
At the core of VinFast’s success is its cutting-edge manufacturing complex in Haiphong. Built in just 21 months, this facility exemplifies engineering brilliance and logistical precision. The remarkable transformation of an undeveloped expanse into a fully operational production hub in such a short time has drawn global acclaim. TIME magazine highlighted this feat, noting, “When TIME visited auto manufacturer VinFast’s EV factory in northern Vietnam in 2022, Google Maps still showed half the site as under the South China Sea; the land had been reclaimed and made operational in just 21 months.”
This rapid development demanded meticulous planning and execution. VinFast managed every detail, from selecting advanced technology and designing the facility to importing and installing state-of-the-art equipment. Thousands of containers carrying machinery arrived at the site, culminating in a factory unparalleled in Vietnam and competitive across the region. A Vingroup executive aptly described it as “a true miracle.”
The Haiphong facility is a technological marvel. Equipped with body shops, paint workshops, assembly lines, and a fully automated stamping area, the factory embodies Industry 4.0 principles. But what sets the plant apart is its reliance on real-time data analytics. Each step of production generates information that is continuously analyzed to refine processes, detect potential issues, and guide future innovations. This data-driven approach has enabled VinFast to rapidly scale operations without compromising on quality—a cornerstone of its success.
In 2022, VinFast made the pivotal decision to shift entirely to electric vehicles, marking a significant departure from its initial focus on gasoline-powered cars. The Haiphong facility’s designed flexibility was key to this transition, allowing the company to pivot seamlessly to electric production without disruption.
The results speak for themselves. In just seven years, VinFast introduced seven EV models, as well as electric buses, scooters, and bicycles. The company also managed to establish a robust charging network across Vietnam. By October 2024, VinFast had delivered over 51,000 EVs domestically in the first ten months.
This success reflects more than corporate achievement—it highlights Vietnam’s readiness to embrace green technology. The country now stands among the few in the world where a domestic EV company has overtaken traditional gasoline-powered competitors.
VinFast’s ambitions extend far beyond Vietnam’s borders. The company is expanding into international markets with the same speed and determination that defined its early successes. Having established its presence in regions such as the U.S., Canada, Europe, and Asia, VinFast is now making strategic inroads into the Middle East. To solidify its foothold, it has partnered with leading dealers, including Al Tayer Motors in the UAE, Al Mana Holdings in Qatar, and Bahwan Automobiles & Trading in Oman.
While VinFast’s sights are firmly set on global markets, the Haiphong facility remains the heart of its operations. A symbol of determination and innovation, it provides the foundation for the company’s aspirations, proving what can be achieved when vision meets execution./.
