Vietnamese automaker VinFast, known for its electric vehicles, has announced that it delivered 21,747 electric vehicles in the first half of 2024, marking a 92% increase compared to the same period in 2023. In the second quarter of 2024 alone, VinFast delivered 12,058 vehicles, representing a 24% increase quarter-over-quarter and a 26% increase year-over-year. The company expects to deliver approximately 80,000 electric vehicles in 2024, compared to the initially planned 100,000 vehicles, reflecting a 20,000-unit decrease in the delivery forecast for this year. VinFast's Chairwoman of the Board of Directors stated that the company's long-term strategy and execution capabilities position it well to meet the evolving needs of the global EV market. The company anticipates strong sales growth in the second half of 2024, driven by a diverse product range, competitive pricing, and a rapidly expanding global distribution network.
VinFast has adjusted the timeline for the launch of its planned $4 billion manufacturing facility in North Carolina, USA. The facility, which was initially planned to begin production in an earlier year, is now expected to start operations in 2028. The decision to delay the launch of the North Carolina factory is attributed to the market slowdown and the company's focus on seizing near-term opportunities in a more selective group of potential markets. VinFast, founded by Vietnam's richest man Pham Nhat Vuong in 2017, aims to make EVs accessible to everyone. The company has expanded its global footprint by entering new markets and establishing a presence in the Middle East. VinFast will release its second-quarter financial results on August 15, 2024.
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