VinFast, Vietnam's first national car

News24xx.com - VinFast, Vietnam's national car brand that was introduced at the 2018 Paris Motor Show has entered the production line and began shipping to consumers on June 17, 2019. Quoted from AFP on Sunday, June 15th 2019, VinFast will fulfill Vietnam's domestic market in the mid-class sedan and SUV segments which previously had been fulfilled by Japanese manufacturers like Toyota and Honda, as well as cars from the United States (US) like Ford.

Quanghe spoke at the Vinfast plant in Haiphong saying the company has received orders for 10,000 cars and 'tens of thousands' of e-scooters. "In less than 72 hours, the first Vietnamese branded car will officially be driven on the streets of Vietnam" said Vingroup director general Nguyen Viet Quanghe.

The Vietnamese Prime Minister said he hoped the vehicle would help the country's economy, besides being a competitor for Japanese and German carmakers. "Vietnam is able to do what the world can" said Nguyen Xuan Phuc. Under the auspices of the JSC Vingroup conglomerate, VinFast marks the launch of its first vehicle from the assembly line on Friday, June 16th 2019.

Vingroup said in 2017 it plans to invest up to USD 3.5 billion in its car business. The company will also produce sedans, sport vehicles and electric motorbikes. VinFast plans to make 250,000 vehicles during the first phase of the operation, with production projected to increase to 500,000 vehicles per year by 2025. Last year, the company said it would start exports in mid-2020.

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