Vietnamese conglomerate Vingroup to launch electric vehicles in early 2020

24, Oct. 2019

Vo Quang Hue, deputy CEO of Vingroup, speaks at Vietnam Motor Show 2019 in Ho Chi Minh City on Oct. 23, 2019.
Vo Quang Hue, deputy CEO of Vingroup, speaks at Vietnam Motor Show 2019 in Ho Chi Minh City on Oct. 23, 2019.

HO CHI MINH CITY, NNA – Vietnamese conglomerate Vingroup Joint Stock Co. will launch electric vehicles in early 2020, eyeing potential demand for eco-friendly cars in the growing domestic automobile market.

VinFast Trading and Production LLC, an auto business arm established by Vingroup in 2017 as the first domestic carmaker, plans to release several e-vehicle models and set up charging stations across the country, automotive company marketing manager Ngo Nguyen Kha told NNA Wednesday.

The carmaker has yet to set prices for the EVs, he said at Vietnam Motor Show 2019 in Ho Chi Minh City, which is being held through Sunday.

VinFast unveiled its Lux A2.0 sedan and Lux S.A2.0 sport utility vehicle at the Paris Motor show last October. The company has said it had received a total of 10,000 orders across both models as well as its Fadil compact car.

The Vietnamese automaker has accelerated production to deliver those cars within 2019, the marketing manager said.

New vehicle sales in the Southeast Asian country jumped 19.5 percent to 202,567 units in the first eight months of 2019 compared to the same period a year ago, according to the Asean Automotive Federation.