Search DubaiPRNetwork.com

Dubai and UAE

Wednesday, November 13, 2024/ Editor

Home >> Automobile and Motoring

VinFast Enters the Middle East, Driven by Vingroup's ‘Forever Start-up Spirit'

Home >> Automobile and Motoring

VinFast, inspired by Vingroup’s ethos of “Forever the start-up spirit,” has officially entered the Middle Eastern market. This expansion offers the EV maker a unique opportunity to secure a first-mover advantage and champion sustainable mobility on a global scale.

For Vingroup, the “start-up spirit” is an all-encompassing philosophy. Despite it being Vietnam’s largest private conglomerates, Vingroup’s founder, Pham Nhat Vuong, sees the company as still at the beginning of its journey. With a belief that no company is “too big to fail,” Vuong promotes a start-up mindset: nimble, proactive, and always prepared to tackle new challenges. This outlook propels VinFast forward in the fiercely competitive automotive industry.

Founded in 2017, VinFast stunned the industry by establishing a state-of-the-art facility in Haiphong in a record 21 months. And in just over five years, it has grown into one of Vietnam’s leading automotive brands. By the first ten months of 2024, VinFast achieved a historic milestone as the country’s best-selling automotive brand—a first for any domestic brand, and especially notable for an EV maker, in surpassing both foreign competitors and traditional gasoline-powered brands.

This start-up mentality fuels VinFast’s global ambitions. With a presence already in North America, Europe, and Asia, the company has now extended its reach to the Middle East. In October 2024, VinFast opened its first Middle Eastern dealership in the UAE. The 1,000-square-meter Dubai dealership includes a showroom and service center, showcasing VinFast’s smart EV models, including the VF 6, VF 7, VF 8, and VF 9.

VinFast’s strategy is clear: build brand recognition early to gain consumer trust as the Middle Eastern EV market develops. The Middle East aligns well with VinFast’s expansion plans, with future dealership openings in Saudi Arabia, Qatar, Kuwait, and Bahrain. These markets represent a strategic entry point into a region where governments increasingly encourage EV adoption. Saudi Arabia, for example, aims for 30% EV usage in Riyadh by 2030. With the regional EV market projected to grow at a compound annual rate of 28.9% by 2028, VinFast is positioning itself to meet rising demand for sustainable transportation.

VinFast’s Middle Eastern venture may seem challenging given the region’s historical reliance on oil, but the company’s start-up spirit equips it for the journey ahead. Echoing its early success in Vietnam, VinFast aims to navigate the complexities of the Middle Eastern market and reshape perceptions of electric mobility. This expansion brings VinFast closer to its goal of becoming a global EV leader, grounded in sustainability and an unyielding start-up spirit.Bottom of Form

 

Share


Next in Automobile and Motoring


Home >> Automobile and Motoring Section

Latest Press Release

Emirates Aviation University marks 35 years of supporting the local and global aviation ecosystem

Emirates layers on retrofitted aircraft with latest product, including Premium Economy to more citie ...

Music, Maps, and Stories at the Mohammed Bin Rashid Library in July

New SHEGLAM Daydreamer Mini Palette Turns Pocket-Sized into Power Pigment

GEMS Education launches GEMS School Management (GSM) to deliver world-class schools globally; in adv ...

Dubai Airshow 2025 unveils new features as registration opens, promising unmatched experiences on an ...

Passenger Growth Hits 5% in May

João Almeida: Racing for Glory and Riding for the Team

May Air Cargo Demand Up 2.2% Despite Trade Disruptions

Return to Ritual: Celebrate Self-Care Month with BUFARMA Skincare

Dubai Government Human Resources Department organises 2nd Human Resources Forum of 2025 to discuss e ...

Dubai Customs and Dubai Police: A strategic partnership to protect the homeland and to promote stabi ...

Rediscover family shopping days: REDTAG opens its doors in Al Ain

Dubai Culture Launches Open Call for 14th Sikka Art & Design Festival

Summer Restaurant Week Returns This DSS with Over 65 Exclusive Dining Deals Across Dubai

Julien Calloud Appointed CEO of SAVOYE to Lead a New Era of Performance and Innovation

Zoho Powers Up CRM for Everyone Platform with AI to Elevate Customer Experience

Media's Role in the Age of Algorithms By HH Sheikha Latifa bint Mohammed bin Rashid Al Maktoum

VinFast VF 8: The Premium Electric SUV Empowering a New Generation of Entrepreneurs in the UAE

Enter the Jurassic Era at VOX Cinemas