VinFast models

VinFast is Vietnam's first homegrown carmaker, founded in 2017 as the automotive arm of Vingroup, the conglomerate built by Pham Nhat Vuong. From a standing start it put up a manufacturing complex on Cat Hai island and, just over a year later, showed its first two models, the Lux A2.0 sedan and Lux SA2.0 SUV, at the 2018 Paris Motor Show. Deliveries began in 2019.

The bigger bet came soon after. VinFast dropped petrol and diesel to become an all-electric brand, listed on the Nasdaq in 2023, and started shipping its VF 8 SUV to the United States. The range now runs from the tiny VF 3 city car up to the three-row VF 9.

VinFast's pitch is aggressive pricing, a fast-expanding model range, and a battery-leasing option that lowers the upfront cost of going electric. It is young and still proving its long-term reliability against established rivals, but no carmaker has scaled from nothing to a global, Nasdaq-listed electric brand this quickly.