Vietnamese automaker VinFast is keen to expand its electric vehicles to the U.S. and Europe this year, and is reportedly looking for a factory location in Germany, German daily Frankfurter Allgemeine Zeitung reported. VinFast hopes to produce electric cars and buses at the plant, whose location has not been disclosed. VinFast is working with Germany Trade & Invest, the German government-owned company responsible for foreign trade and location marketing, to find the ideal solution. There has been speculation that VinFast may be interested in a German automaker’s factory…
Vietnamese automaker VinFast is keen to expand its electric vehicles to the U.S. and Europe this year and is reportedly looking for a factory location in Germany, German daily reported. Frankfurter Allgemeine Zeitung.
VinFast hopes to produce electric cars and buses at the plant, whose location has not been disclosed. VinFast is working with Germany Trade & Invest, the German government-owned company responsible for foreign trade and location marketing, to find the ideal solution.
There has been speculation that VinFast may be interested in German automaker Opel’s plant in Eisenach, central Germany, which is on the brink of closure but may be in line with VinFast’s ambitious expansion strategy in Europe.
Backing this speculation, former Opel chief Michael Lohscheller, who takes over as CEO of the Vietnamese automaker for five months in mid-2021, could have come up with such a solution. Opel is part of the Stellantis Group, which also includes brands such as Peugeot, Citroen, Fiat, Chrysler and Jeep, and has numerous production facilities around the world, the utilization of which needs to be optimized.
VinFast’s electric car model to debut in Europe this year
VinFast said its first electric vehicles, the VF e35 and VF e36, will be launched this year in three European countries, including Germany. However, initially the models will still be imported from Vietnam, but may later be built in Germany.
Le Thi Thu Thuy, who succeeded Michael Lohscheller as chief executive in December 2021 and is also vice chairman of VinFast’s parent company Vingroup, called the potential plant in Germany a “milestone” in VinFast’s European strategy.
“The days of transporting cars around the world are over, especially since Covid-19,” she said, adding, “You have to get your factories close to the market to win customers.”
“Find a place in the European market”
Regarding the European market, Thuy said: “VinFast wants to provide high-quality electric vehicles and exceptional customer experience at an affordable price. We believe we can find a place in the European market, especially since the shift to electric vehicles in Europe is very clear.”
VinFast currently manufactures cars at its Haiphong production base near Hanoi, Vietnam. Currently it sells gasoline-engined cars, some of which are based on BMW technology. However, internal combustion engine production will be phased out by the end of the year to focus entirely on electric vehicles.Just recently, VinFast started deliver Launched the first electric vehicle to Vietnamese customers.
While no timeline was given for the planned plant in Germany, VinFast said in a recent statement that it plans to open an electric vehicle plant and a battery plant in the U.S. in the second half of 2024. Electric vehicles will also be produced in the US starting in late 2024.
