Hyperdrive
Vietnam’s Richest Man Plans Electric Car Factory in the U.S.
- VinFast to set up showrooms, service centers in California
- Company has established 50-member San Francisco R&D center
Inside a Vinfast factory in Haiphong, Vietnam. VinFast sold about 30,000 vehicles last year.
Photographer: Yen Duong/BloombergThis article is for subscribers only.
Vietnamese electric-vehicle startup VinFast plans to open a U.S. factory after setting up a 50-member San Francisco research office as it prepares for California automobile sales in 2022.
VinFast, founded by billionaire Pham Nhat Vuong, began delivering gasoline autos to Vietnamese consumers with BMW-licensed engines in 2019. Vuong, who is also chairman of parent company Vingroup JSC, said late that year he would back the company’s U.S. ambitions with $2 billion of his own fortune.