Will Honda And Nissan Join Forces?

After already having established its presence in the U.S., Canada, and Southeast Asia, VinFast, the young EV manufacturer from Vietnam is now setting its sights on the Middle Eastern market. Vinfast has already established a regional headquarters in Dubai and is forming strategic partnerships with local dealers in countries like Oman and the UAE.

Vinfast’s undeterred drive for global expansion comes courtesy of strong backing from Vietnam’s largest private conglomerate and Vinfast’s parent firm, Vingroup. The conglomerate operates across a diverse range of sectors, including technology-industry, trade & services, contributing nearly 1.6% to the country’s 2023 GDP. Vinfast established its Hai Phong automobile factory in 2019, achieving a world record for construction speed. Even though the brand commenced operations by selling gasoline cars, Vinfast made a bold pivot to all-electric powertrain mid-way and delivered its first EV to customers in December 2021.