VinFast Trading and Production LLC, a subsidiary of Vietnamese conglomerate Vingroup, plans to set up an automobile plant in the US after establishing a 50-member R&D office in San Francisco in preparation for California automobile sales in 2022, Bloomberg reported.
VinFast applies state-of-the-art technology into its production line. (Photo: VNA)
Hanoi (VNA) - VinFast Trading and Production LLC, a subsidiary ofVietnamese conglomerate Vingroup, plans to set up an automobile plant in the USafter establishing a 50-member R&D office in San Francisco in preparationfor California automobile sales in 2022, Bloomberg reported.
“VinFast’s vision is to become a global smart electric car company and the USmarket is one of the first international markets that we will focus on,” Bloombergequoted VinFast Chief Executive Officer Thai Thanh Hai as saying.
“We initially will develop high-end models for the US”, she added.
Hai expressed her strong belief that VinFast can win over the US and otheroverseas customers leery of buying an automobile from a Vietnamese firm theyknow little or nothing about by offering top-quality vehicles with high safetystandards and advanced technology.
VinFast also plans to open 35 Californiashowrooms and service centers this year, she said.
Most recently, California regulators have granted VinFast a license to test autonomous vehicles on publicstreets. The company aims to deliver its first electric vehicles to UScustomers next year.
Hai did not reveal how much Vinfast will invest in the US market; however, shesaid the firm target to be profitable after five years of operation heredespite challenges caused by the COVID-19 pandemic.
In September last year, California Governor Gavin Newsom ordered to phase outsales of new gasoline-powered cars by 2035, which is billed as an impetus forVinfast to sell electric vehicles in the market, she said.
Earlier, Vingroup Chairman Pham Nhat Vuong told Bloomberg that he will pour 2billion USD into Vinfast to export cars to the US./.
Vietnam’s domestic automaker VinFast, a subsidiary of conglomerate Vingroup, sold a total 29,485 cars in 2020, according to a sales report of the company.
The Vietnam Design Association – HCM City has launched the “VinFast Global Showroom Design Competition 2021” to find the most outstanding design idea for VinFast’s global showrooms.
Vietnamese automaker VinFast has signed a memorandum of understanding (MoU) on strategic cooperation with ProLogium Technology Co. from Taiwan (China) regarding solid-state battery production in Vietnam.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
VinFast applies state-of-the-art technology into its production line. (Photo: VNA) 
