VinFast set to launch electric vehicles in Thailand

After launching cars in North America and Europe, VinFast continues to expand into Southeast Asian countries. The Vietnamese automaker has announced plans to sell cars in Indonesia and the Philippines, while also preparing to open dealerships in Cambodia and Laos. In addition, Thailand is also a market of interest for VinFast.

In Thailand, VinFast is recruiting on Linkedin for leadership positions such as HR administration, logistics management, sales directors, and executive vice presidents. This indicates that VinFast is likely to begin selling cars in the Land of Smiles.

Some Thai automotive news sites such as Siamcar and Autodeft have also published numerous articles about VinFast’s plans to launch cars. These sites believe that the VF 8 and VF 9 will be the first VinFast models to be introduced to Thailand in 2024. Additionally, forums and communities of VinFast enthusiasts have been circulating an image of the brand’s launch event in Thailand. However, according to information released by the electric car manufacturer at the Bangkok Motor Show last year, the priority for the VF e34, VF 5, VF 6, and VF 7 models will be the markets with left-hand drive, such as Thailand. Therefore, the introduction of the VF 8 and VF 9 in Thailand may only serve as a test.

The electric vehicle market in Thailand is considered to be very promising and highly competitive. This Southeast Asian country is among the top 10 largest automobile manufacturing countries in the world in 2022, according to a report by the Thai Automotive Institute, with 1.88 million units produced. By 2030, car production in Thailand is projected to exceed 2.5 million units, with zero-emission vehicles accounting for about 30%.

Similar to Vietnam, the Thai government is also very interested in the electrification of transportation. This is reflected in import tax reductions, special consumption tax reductions, and cash subsidies for buyers as stipulated in the country’s regulations. As a result, the demand for electric vehicles among Thai consumers is also growing rapidly.

Thailand’s electric vehicle development policies have also attracted many car manufacturers to set up factories here, led by the two electric vehicle giants BYD and GWM. With an 80% market share, Chinese electric cars have a big advantage in the Thai market. When entering this market, VinFast will have to compete fiercely with Chinese competitors such as NETA, BYD, Wuling, MG, and GWM.

In addition, Japanese automakers are also showing great interest in the electric vehicle market in Thailand. In December 2023, the Thai government announced that four major Japanese car manufacturers plan to invest 150 billion baht over the next 5 years to expand their market share in electric vehicles in this country.

Thái Sơn (Tuoitrethudo)