February 6, 2024


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Is Vietnam’s e-car maker hitting the brakes in Europe?

Vietnamese electric car maker VinFast is slowing down its European expansion, industry experts say, as a complex regulatory environment and growing competition from China have raised doubts over how much of Europe’s highly competitive market it can corner.

VinFast opened its third showroom in Germany over the summer and has expanded operations in the Netherlands and France.

However, its decision to pull out of the IAA Mobility show, a major car show taking place in Munich this week, has been seen by industry experts as the company stalling, especially amid its plans to launch its first model in Europe during the last quarter of 2023.