It is known that VinFast Production and Trading Joint Stock Company is currently the only enterprise that owns an electric vehicle manufacturing factory in Hai Phong, located in Dinh Vu Industrial Park, Cat Hai district.
With a total investment of 3.5 billion USD and a scale of 335 hectares, the VinFast factory complex is one of the largest industrial projects in the country. Currently, the factory campus includes an operating area, electric motorbike and automobile production lines, an auxiliary industrial area, a training center and an R&D institute.
In phase 1, the factory is designed with a capacity of 250,000 cars and 250,000 electric motorbikes per year. In the next phases, billionaire Pham Nhat Vuong's car company aims to increase its capacity to 950,000 cars and 1 million electric motorbikes per year. The electric bus factory here alone can reach 1,500 vehicles per year according to design.
VinFast factory in Hai Phong
Accordingly, VinFast plans to increase the localization rate from the current 60% to 84% by 2026 by domestically producing parts such as car seats, wires, car lights, rims, brake-steering systems, interior and exterior components, mirrors, etc. When producing electric batteries, VinFast will reach a rate of 84% - this is the most valuable component in electric vehicles.
The VinFast model with the lowest price today is the VF 3. This is a mini-SUV electric car, targeting the small urban car segment with the most competitive price among VinFast's car lines.
According to Tuoi Tre Newspaper, since March 2025, many dealers have announced the price list of VinFast electric cars after the company stopped applying the battery rental policy. Notably, the VF 3 model is currently priced under 300 million VND, with a free charging incentive until the end of 2027.
VF3 model continues to be in high demand in the first 2 months of 2025
According to plan, VinFast Ha Tinh factory will inaugurate phase 1 in July 2025, just 8 months after starting the project, creating a new world record in the automobile manufacturing industry.
In 2025, Vingroup aims to sell about 200,000 vehicles, continuing to expand its product portfolio with plans to launch a 7-seat MPV model in addition to 6 existing vehicle lines, ranging from mini-SUV to E-SUV, including VF 3, VF 5, VF 6, VF 7, VF 8 and VF 9. In addition, VinFast also promotes the commercial vehicle segment with 4 Green lines specializing in transportation, including Minio, Herio, Nerio and Limo Green.
Globally, the Vietnamese electric vehicle company continues to expand its market with a presence in the US, Europe, India, Indonesia, the Philippines, the Middle East... and gradually affirms its position.
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