Finance

VinFast Unleashes its Second Electric Vehicle Factory in Bold Expansion Move!

2025-06-29

Author: Nur

VinFast Charges Ahead with New Production Facility

In an electrifying push to dominate the automotive landscape, Vietnamese electric vehicle giant VinFast launched production at its second domestic factory in Ha Tinh this past Sunday, June 29. This state-of-the-art facility is geared to produce up to 200,000 affordable mini urban vehicles annually, showcasing VinFast's commitment to meet the burgeoning demand in both local and international markets.

A Comparison with the Flagship Factory

VinFast's new factory, sprawling over 36 hectares, significantly boosts its manufacturing capabilities. In comparison, its flagship plant in Haiphong is on track to reach a staggering capacity of 950,000 units by next year, solidifying VinFast's standing in the electric vehicle sector.

Global Ambitions Amid Challenges

Backed by the powerhouse Vingroup, VinFast has set its sights on ambitious global expansion, targeting the United States, India, and Indonesia for new production plants. However, the company's journey hasn't been without challenges. Weakening demand and intense competition have forced it to reconsider its timelines.

Delays on the Horizon

Despite its ambitions, VinFast recently announced its US factory operations will not kick off until 2028. Meanwhile, its assembly plant in India is anticipated to start operations as soon as next month, which could shift the tide in its favor.

Aiming for the Stars with Production Goals

Nguyen Viet Quang, CEO of Vingroup, expressed confidence in the new Ha Tinh facility, stating it is crucial for VinFast to reach its goal of producing 1 million vehicles annually. The company aims to deliver 200,000 cars by 2025, with around 56,000 units already sold in just the first five months of this year, mostly in its domestic market.

VinFast: The Future is Electric!

As VinFast continues to innovate and expand, it is clear that this Vietnamese powerhouse is not just aiming to ride the wave of the electric vehicle revolution but to lead it. With significant production capabilities and a growing global presence, the future looks bright for VinFast!