VinFast, as a Vietnam-based electric vehicle manufacturer, is preparing to enter the European market in the last quarter of 2023. This exciting decision was made following regulatory approval, and the company's CEO, Le Thi Thu Thuy, announced that as part of the plan, approximately 3.000 units of the VF8 crossover model will be shipped from the factory in Vietnam to France, Germany, the Netherlands and Israel. However, this information has still not been officially disclosed to the public and the names of the sources have not been shared.
VinFast's European Adventure
VinFast CEO Thuy did not provide details on exactly how many VF8 SUVs will be delivered, but if this plan comes true, Europe will become VinFast's largest overseas market. Previously, earlier this year, the company shipped approximately 2.100 electric vehicles to the United States.
However, VinFast's journey in Europe has been postponed in the second half of 2022 due to the global semiconductor shortage. The company plans to introduce other models such as VF6, VF7 and VF9 to the European market next year.
Expansion in the Shadow of Competition
VinFast's entry into the European market comes at a time when the European Union is closely examining the incentives given to Chinese electric vehicles. Concerns are that cheap imports from China could flood the European market. In order to increase this competition, many Chinese automakers are preparing to increase their sales in Europe with competitively priced electric vehicles. This situation may disturb European-based automakers from the price advantage of their Chinese competitors.