VinFast plans factory in Germany - for e-cars and e-buses

VinFast plans factory in Germany - for e-cars and e-buses

Vietnamese vehicle manufacturer VinFast is planning a factory in Germany to produce electrically powered cars and buses. There is already speculation about a specific location. In addition, VinFast is also planning a battery factory in the US.

But first to Germany: In the search for a location for a new plant in Germany, VinFast is cooperating with Germany Trade & Invest (GTAI), a company of the Federal Republic of Germany for foreign trade and location marketing. VinFast announced this on the sidelines of the CES in Las Vegas. There, "E-vehicles, passenger cars as well as buses" are to be produced.

At the end of September 2021, VinFast had given more details about its European strategy, according to which the company's first two electric cars, the VF e35 and VF e36, are set to make their market debut in three countries in Europe this year, including Germany. Initially, however, these models will still be imported from Vietnam.

Le Thi Thu Thuy, who succeeded Michael Lohscheller as CEO in December and is also deputy chairwoman of the overall VinGroup, calls the plant in Germany a milestone in VinFast's European strategy. "The era of shipping cars around the world is over, especially since Covid-19 came along," the executive says. "You have to have factories close to markets to really attract customers. VinFast wants to offer high-quality e-vehicles and a special customer experience at affordable prices."

A little further down in the announcement it says: "Accompanying the search for a manufacturing plant for Europe, the Vietnamese automotive group is developing a production strategy for current and future markets. Further announcements on this will follow." Whereas initially there was talk of setting up a manufacturing plant, here there is no longer any explicit mention of finding a site for a plant construction. The "search for a manufacturing plant" could also be interpreted as taking over an existing site.