MINISTRY OF EDUCATION AND TRAINING

UNIVERSITY OF ECONOMICS HO CHI MINH CITY

FACULTY OF FINANCE
-------------------

GROUP ESSAY

TOPIC: THE SUPPLY, DEMAND SITUATIONS IN THE MARKET OF VINFAST

ELECTRONIC VEHICLES AND OFFERING RECOMMENDATIONS FOR
IMPROVEMENT.

Subject : Microeconomics
Lecturer : Nguyễn Thanh Triều
Class code : 23C1ECO50109702
Practice group : Group 4
Class : FNF002
Academic programme : K49 – Full Time

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Ho Chi Minh, 11 November 2023.

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GROUP MEMBER
Student name Class Student code Email
1 Âu Thị Mỹ Duyên FNF002 31231023912 duyenau.31231023912@st.ueh.edu.vn

2 Mai Linh FNF002 31231023050 linhmai.31231023050@st.ueh.edu.vn

3 Đào Xuân Vũ FNF002 31231020581 vudao.31231020581@st.ueh.edu.vn

4 Lê Hoàn Long FNF002 31231020213 longle.31231020213@st.ueh.edu.vn

5 Trần Anh Kiệt FNF002 31231021719 kiettran.31231021719@st.ueh.edu.vn

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Contents
PREAMBLE...................................................................................................................................................4
Reason for choosing this topic...................................................................................................................5
CHAPTER 1: THEORETICAL BACKGROUND......................................................................................7
1.Demand....................................................................................................................................................7
2.Supply.......................................................................................................................................................9
CHAPTER 2: DESCRIPTION....................................................................................................................10
1. Introduction......................................................................................................................................10
2. Products and services.......................................................................................................................11
2.1 The formation and development...................................................................................................11
2.2 A brief overview of Vinfast's electric vehicle................................................................................14
CHAPTER 3: MARKET.............................................................................................................................17
1. Demand:............................................................................................................................................17
1.1 Consumer income :.........................................................................................................................17
1.2 Customer taste................................................................................................................................19
1.3 Consumer expectation....................................................................................................................21
1.4.Quantity of consumers....................................................................................................................23
2. Supply................................................................................................................................................24
2.1 Technology and Partnerships:.................................................................................................24
2.2. Showroom and distribution channel.......................................................................................26
................................................................................................................................................................27
2.3.Sales Strategy/Marketing...............................................................................................................27
CHAPTER 4: CONCLUSION....................................................................................................................34
1. SWOT Analysis.................................................................................................................................34
2.Offering recommendations...................................................................................................................38
RESOURCES...............................................................................................................................................40

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 PREAMBLE

First of all, we would like to sincerely thank lecturer Nguyen Thanh Trieu - lecturer of the
Faculty of Finance for enthusiastically teaching and guiding students throughout the course. During
the time since we started studying at school until now, we have received a lot of care and support
from teachers and friends. Thanks to the teacher's timely advice and instructions, we overcame
difficulties when writing our group's essay.

But after all, we realize that with our own little knowledge and experience, we will certainly
avoid many shortcomings. We personally look forward to receiving comments from you so that our
essays can be better.

Sincerely thanks, Group 4.

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 Reason for choosing this topic.

Although determining the number of motor vehicles on the world is an inexact science ; the
number is rising quickly. About 2 billion vehicles are estimated to be on the roads by 2035,
according to a report from Navigant Research. The availability of fossil fuel energy sources on
Earth declines and environmental pollution becomes a more pressing issue causing many car
manufacturers around the world to turn to the production of electric vehicles to replace vehicles
using internal combustion engines as an inevitable trend. According to statistics on the Global
Electric Vehicle Outlook of the International Energy Agency (IEA), Markets for electric cars are
expanding exponentially, with sales expected to reach 10 million by 2022. In just three years, the
percentage of electric vehicles in overall sales has more than tripled, rising from 4% in 2020 to 14%
in 2022. EV sales are expected to continue strongly through 2023. Over 2.3 million electric cars
were sold in the first quarter, about 25% more than in the same period last year.

Given this unavoidable tendency, Vinfast has declared that it will only produce electric vehicles by

the end of 2022. Up to now, Vinfast has made a lot of substantial achievements. In 2019, Vinfast is
the first brand to be awarded “New Car Brand with High Commitment to Safety” from New Car

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Assessment Program for Southeast Asian Countries (ASEAN NCAP). VinFast is steadfast in its

commitment to prioritizing client safety. With 4-5 star certification, all three car lines —VinFast
Fadil, Lux A2.0, and Lux SA2.0—meet ASEAN NCAP requirements. In 2022, The community's
OTOFUN and OTOSAIGON voting for "Car of the Year 2022" has recognized VinFast as the
"Most Popular Car in the Segment" for all 4 car models, including Fadil, Lux A2.0, Lux SA2.0, and
VF e34. Even though VinFast had to contend with formidable rivals that had been on the market for
a considerable amount of time, its first three products all took the top spot . VinFast has established
a solid presence in the home market and shown that local consumers trust the brand thanks to its
growth through this award. According to Nhân dân newspaper, in the second quarter of 2023,
VinFast achieved total revenue of up to 334.1 million USD, a 303.3% increase over the first quarter
of the same year. Delivery of 9,535 electric vehicles generated the majority of revenue throughout
that time.

Picture 0.2: Top 10 best-selling cars in May 2023

(Source:Tuổi trẻ news)
Picture 0.3 : Number of electric vehicles delivered.
(Source: Thời báo tài chính)
Consequently, group 4 studied Vinfast Limited Liability Company's electric vehicle product supply
and demand scenario.In this essay, our group investigated customer demand for electric vehicle
items and the company's sales and marketing plan, highlighting benefits in terms of cost, quality,
and availability. Finally, use a SWOT analysis table to make judgments about the business's benefits
and drawbacks as well as its potential and difficulties. Our group also came up with a number of
ideas and solutions to assist companies in reaching their objectives and improving their business
plans. In addition, our group also came up with a number of suggestions and solutions to help
businesses achieve their goals, thereby coming up with better strategies for their business.

CHAPTER 1: THEORETICAL BACKGROUND

1.Demand

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 Demand is the amount of goods or services that consumers are able and willing to purchase at
various prices within a given period of time, with other conditions remaining unchanged.
The quantity demanded of any good is the amount of the good that buyers are willing and able
to purchase.
Price of lattes (USD) Quantity of lattes demanded

0.0 16

1.0 14

2.0 12

3.0 10

Demand-affecting factors:

-Income

Picture 1.1: Demand for a normal good Picture 1.2: Demand for an inferior good
is positively related to income. is negatively related to income

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-Prices of related goods

-Tastes

Picture 1.5: Changing customer preferences will result in a change in the demand curve.

-Expectation: affect consumers’ buying decisions.

2.Supply

Supply is the amount of goods or services that the producer is able and willing to provide at
various price points over a specified period of time, with other conditions remaining unchanged.

Price of lattes (USD) Quantity of lattes supplied

0.0 0

1.0 3

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 2.0 6

3.0 9

The quantity supplied of any good is the amount that sellers are willing and able to sell.

Law of supply: the claim that the quantity supplied of a good rises when the price of the good
rises, other things equal

Supply-affecting factors:

-Input prices:

Picture 1.6: The supply curve will shift when input prices change

-Technology:

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-Quantity of sellers : An increase in the number of sellers increases the quantity supplied at each
price and vice versa.

-Expectations:

 Suppose a firm expects the price of the good it sells to rise in the future.

 The firm may reduce supply now, to save some of its inventory to sell later at the higher
price.

CHAPTER 2: DESCRIPTION

1. Introduction

VinFast Manufacturing and Trading Co., Ltd

In 2017, VinFast Manufacturing and Trading Limited Liability Company was established as a
Vingroup Joint Stock Company member by Mr. Pham Nhat Vuong. This is also the 7th core
business of Vingroup with the head office located in Haiphong and is a Vietnamese manufacturer of
electric cars and motorcycles. Vinfast is an abbreviation of Vietnam (–VIN) – Style (phong cách –
F) – Safety (an toàn –A) – Innovation (sáng tạo –S) – Pioneer (tiên phong –T) and the meaning of
the VinFast car company logo V is to represent Vietnam, Vingroup and Rise (vươn lên –V).

Shareholders

Three shareholders jointly own VinFast as of September 30, 2022: Asian Star Trading &
Investment (15%), VIG (33.48%), and Vingroup (51.52%).

Board of Managements

Management type: Vertical

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 2. Products and services

2.1 The formation and development

VinFast Trading and Services Company Limited was established in June 2017.
September 2, 2017 officially started construction of the VinFast electric motorbike and car
production complex.
 October 2, the VinFast Lux A2.0 and VinFast Lux SA2.0 car models were
introduced at the Paris Motoshow. It was an honor to be named a "new
star" of the automotive industry by Europe's top automotive association,
AutoBest. world bowl.
2018
 November 3, an electric motorcycle factory was opened, and VinFast
Klara, the company's first product, was introduced to the Vietnamese
market.

 March 6, The first VinFast Lux SA2.0 was rolled off the factory conveyor
belt
 June 14, after a 21-month building period, VinFast vehicle manufacturing
was formally opened in Cat Lai, Hai Phong.
 17 June, began supplying the first clients in Vietnam with three car models:
2019
VinFast Fadil, VinFast Lux A2.0, and VinFast Lux SA2.0.
 October 23, VinFast Lux A2.0 and VinFast Lux SA2.0 received the
highest level of safety certification from ASEAN NCAP. VinFast Fadil, a
class A urban automobile, also received a 4-star rating.

 September 7, a special and limited edition of the first luxury supercar, the
2020 VinFast President V8, was introduced.

2021  February 16, The Grand Prix Awards 2020 announced that was the winner
of the "New car company with high commitment to safety" award.
 March 24,The VinFast VF E34, Vietnam's first smart electric car line,
officially went on sale.
 March 2021, 3 car lines VinFast Fadil, VinFasts Lux A2.0 and VinFast Lux
SA2.0 won the "most popular car line in the segment" award voted by
consumers across the country.

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  July 12, VinFast will formally launch in five markets across Europe and
North America.
 December 15, VinFast gave customers access to the VF e34, Vietnam's
first smart electric vehicle.

2022  January 2022 VinFast launched global sales of Vinfast VF8 and Vinfast VF9
at CES 2022 and revealed its pure electric strategy and full product line.
 January 15, 2022 VinFast is the car company most highly rated for service
quality at the Car Awards 2021 ceremony organized by VnExpress-Xe.

 January 15, 2022, VinFast Fadil and VinFast Lux A2.0, respectively, were
chosen as the "Car of the Year" in the compact car size A and sedan size D–E
categories during the Car Awards 2021 event, which was hosted by
VnExpress-Xe.
 20 January 2022 In two categories, VF e34 became victorious: "Most popular
popular car priced under 1 billion" and "Most desirable electric car" in the
"Exquisite Voting 2021" program.
 March 29, 2022, a memorandum of understanding was signed by VinFast with
the state government of North Carolina, USA, regarding the construction of
VinFast's first production facility in the North American market.
 30 March 2022 VinFast is still the "Most Popular Car in the Segment" for all
four car models—the Lux A2.0, Lux SA2.0, VF e34, and Fadil—according to
the community's OTOFUN and OTOSAIGON vote for "Car of the Year
2022".
 April 7, 2022 The journey of 111 VF e34 vehicles to conquer Sa Vi - the
northeasternmost point of the country was honored with the record of "The
largest electric vehicle caravan in Vietnam".
 on April 26, 2022 VinFast introduces five new generation electric motorcycle
models with LFP batteries.
 July 14, 2022: California's first six Vinfast stores open
 April 7, 2022 The journey of 111 VF e34 vehicles to conquer Sa Vi - the
northeasternmost point of the country was honored with the record of "The
largest electric vehicle caravan in Vietnam".
 April 26, 2022 VinFast launches 5 new generation electric motorbike models

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 using LFP batteries.
 July 14, 2022 Opening of the first 6 Vinfast stores in California
 November 25, 2022 999 Vinfast VF8 electric cars exported to the US, the first
time Vietnamese electric cars enter the global market

 March , delivered the first 45 Vinfast VF8 City Edition vehicles to clients
in the United States. formally launched their company in the US market.
2023
 July 28, Started factory construction in the US August 15, 2023 Listed on
Nasdaq Global Select Market

2.2 A brief overview of Vinfast's electric vehicle

VinFast electric motorcycles impress with their modern styling and clever features and functions.
VinFast has introduced 13 electric motorcycle models with a range of styles and competitive pricing
to cater to the needs of different client segments.

 ELECTRIC MOTORCYCLE MODELS IN THE MIDDLE-LEVEL SEGMENT

INCLUDE VinFast Ludo, VinFast Impes, VinFast Tempest, VinFast Evo 200, VinFast
Feliz, VinFast Feliz S, VinFast Klara A2, VinFast Klara S, VinFast Klara S 2022.
 ELECTRIC MOTORCYCLE MODELS IN THE PREMIUM SEGMENT INCLUDE:
VinFast Vento, VinFast Vento S, VinFast Theon, VinFast Theon S

Model Outstanding features

Evo 200 electric motorbike (22 million The VinFast Evo200 electric motorbike
VND) is a brand-new model that the company
introduced in April 2022. Bright Red,
Red Orange, Pearl White, Charcoal
Blue, Yellow, Gray, and Matte Black
are the seven available colors for the
automobile. Its outstanding
performance—a maximum speed of 70
km/h and a travel range of 200 km after
a full charge.

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 Feliz S electric motorbike (29.9 million This is an updated Feliz model,Feliz S
VND) offers an elegant design that attracts all
eyes with 5 trendy colors—glossy
black, pearl white, wine red, moss
green, and silver. Travel up to 198
miles on a single charge, with a 1,800W
capacity and a top speed of 78 km/h.

Vento S electric motorbike (56 million The high-end Vento S electric

VND) motorbike line is available in six
vehicle colors: pearl white, glossy
black, dark red, black, turquoise,
orange, and yellow.The device has
numerous performance advantages,
including strong capacity of up to
5,200W, maximum moving speed of
89km/h.

Klara S electric motorbike (36.9 million The five distinct color options available
VND) for the Klara S 2022 are pearl white -
black, dark red-green-black, dark blue-
black, and luxurious matte black.
Impressive characteristics of the new
Klara S version include a maximum
capacity of 3,000W, a travel range of up
to 194 km on a fully charged battery,
maximum speed of nearly 80km/h.

Smart and modern VinFast electric cars

Up to now, VinFast has introduced 6 electric c
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ar models, spread evenly from class A to class E.
Model
VinFast VF e34 electric car - C-class SUV
VinFast VF 8 electric car - D-class SUV
VinFast VF 9 electric car - E class SUV
VinFast VF 7 electric car - C-class SUV
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Outstanding features
This is the first electric car model
launched for sale in the era of electric
vehicle production in Vietnam.
According to NEDC standards, the VF
e34 can go up to 285 kilometers after
the battery is fully charged. After only
roughly eighteen minutes of charging,
the automobile can travel up to 180 km
thanks to the fast charging mode.
Convenient features: The VF e34 has
an integrated driver aid system.
VinFast VF 8 is a D-class electric
vehicle type featuring an ultra-
impressive operating system and a
futuristic look. There are two variants
of the car available: VinFast VF 8 Plus
and VinFast VF 8 Eco. There are no
differences between the two variants in
terms of size, engine type, or
functionality.
The VinFast VF 9 is a powerful,
athletic, and incredibly stylish kind of
electric car for the E-class. To provide
customers more options, the VF 9
model comes in two versions: VF 9
Eco and VF 9 Plus. The VF 9 has
excellent, contemporary features that
enhance the owner's driving
experience.
The VF 7 electric car model has a
unique design, attracting all eyes
unlike its "brothers". Angular details
and squareness create a strong exterior
 overall, equipped with a panoramic
sunroof, helping car occupants enjoy
natural light and fresh air.

VinFast VF 6 electric car - B-class SUV
VinFast VF 8 electric car - D-class SUV
For those who want dynamism and
sportiness, the VinFast VF 6 is the best
option available in the B-class SUV
market. The inside features a sizable
central screen and practical control
buttons below, all in a straightforward
yet innovative design.
The VinFast VF 5 Plus is an SUV
model whose small size and adaptable
shape make it ideal for maneuvering
through cities and small streets. It is
highly valued for the passenger
compartment and has an eye-catching
appearance, embossed features, and
rounded lines on both sides of the body
with exceptional colors that draw all
eyes.

CHAPTER 3: MARKET
1. Demand:

1.1 Consumer income :

The standard of living is increasing day by day, accompanied by the need to own users' own
vehicles. Choosing a car is not difficult, the thing to pay attention to is how much income you
should buy a car to optimize costs and ensure comfort.
Monthly income ranges from 10-20 million VND
Less than 20 million VND per month is often the earnings of young, unmarried individuals who
wish to have their own vehicle for personal experiences. If you wish to acquire an automobile, this
budget range is thought to be fairly risky. Buyers will need to budget carefully in order to cover
monthly costs for living, food, drink, and other essentials because, in addition to the indicated

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selling price, car maintenance also comes with a high cost. Additionally, you need to have some
extra cash on hand to cover costs associated with driving, such as petrol, parking, maintenance, etc..
Customers with this level of income should go for compact, four- to five-seat vehicles that cost
between 500 and 600 million VND, which will save them an extra three to five million VND a
month on car maintenance.
If your financial situation prevents you from meeting your full payment capacity, you can think
about purchasing your dream car through installments. In addition to helping to lessen the financial
burden, this type allows clients with an income of 20 million to still have money left over after
making installment payments for investments or other activities.

Monthly income from 20-30 million VND

Those with an average monthly income of between 20 and 30 million VND won't feel too much
strain when it comes to deciding how much money to spend on an automobile. These are typically
young people or families that need a car of their own to suit their needs for family travel or for
business.
If you have a strategy and adequate funds with an income of roughly 20–30 million VND, you can
get a car. All you have to do is choose a car that is reasonably priced and balance your
spending.Buyers can think about owning sedans or, to save money, they can choose to buy a mid-
sized SUV in installments. In light of this cost, the buyer must fairly balance and compute the
monthly expenditures if they wish to purchase a car with a bank interest loan.

Monthly income over 30 million VND

The majority of this will come from high-earners' finances, who are frequently business owners or
have big families. Therefore, having a car is necessary for showing up for class, traveling for
business, and buying a vehicle for extended trips with lots of luggage for families.
With this amount of money, people can purchase and own an automobile with confidence.
Customers do not have to worry about monthly payments and car maintenance fees interfering with
their everyday lives if they opt for the installment payment option and have monthly resources of
above thirty million. This budget is suitable for huge SUVs, luxury sedans, or even more expensive
cars.

It has been demonstrated that owning a car will be easier for those with greater incomes when it
comes to the topic of what income level is appropriate. In order to effortlessly own their preferred
car, it is ideal for a buyer to have a clear financial strategy when they are planning to get one.

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1.2 Customer taste
Young customers are drawn to electric automobiles, which are steadily gaining popularity and
catering to a worldwide market because they embrace green living trends, pursue current
technology, and strive to safeguard the environment with new environmentally friendly vehicles.
Today's young consumers are between 20 and 35, have economic independence, and have
average to high-income levels. Besides, new-age customers also pay special attention to popular
trends. They care about convenience, modern technology, and environmentally friendly
transportation.
In Europe:
Up to half of young consumers want to purchase an electric car, according to a survey done in
the UK, one of the top European markets for electric vehicles. Furthermore, a recent study reveals
that owning at least one electric car is more common among those between the ages of 24 and 34.

Young people also voiced concerns about the cost of driving electric cars, battery life, and the
scarcity of charging stations in this nation through polls conducted at Lancaster University (UK).
Nonetheless, the majority of respondents voiced optimism for the future growth of the electric
vehicle trend. It provides incentive for British automakers in particular, as well as automakers
worldwide, to upgrade and improve their electric vehicles.
In Asia: Young people in China and Thailand are also drawn to electrified cars.
According to the findings of a recent poll, Chinese customers wish to acquire a green
automobile for their own use in transportation. The proof is that a domestic mini-electric car with a
super cheap price (only 4,500 USD, equivalent to 107 million VND) has become an extremely
popular car line among young people in this country. With a top speed of 100 km/h, its small size
makes it ideal for young individuals who value ease. More precisely, auto owners can customize the
look of their vehicles with seat covers, accessories, stickers, and other items based on their personal
tastes. Many individuals have been drawn to it since it allows them to designate a certain area and
display their individuality inside their car.

On the other hand, because they care about the environment, young people in Thailand are also
drawn to the green car movement. Cost and ecological consciousness are significant elements
influencing young consumers' purchase selections. "From the Land of the Golden Temple"

In Vietnam,with the launch of VinFast's first line of electric vehicles, the electric car trend has
gained popularity and shown indications of "rejuvenation" in the Vietnamese market. The VF e34
electric car has garnered great feedback since its inception, and after just over three months of sales,
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 it achieved an amazing milestone with 25,000 online deposits. It indicates that consumers who
belong to "Gen Y and Gen Z" are starting to favor internet buying.
There are four main things attract young people to purchase a VinFast EV:
• Using renewable energy: Vehicles using renewable energy operate entirely on electric engines
and do not emit carbon dioxide, contributing to protecting air quality. According to environmental
experts, an electric car can help save 1.5 million grams of CO2 in a year.
• Technologization: Electric cars now offer a very convenient and safe driving experience thanks
to AI technology, machine learning, and 5G network characteristics, in addition to environmentally
friendly features. Smartphones and cars are increasingly being connected, allowing users to operate
anywhere with a single touch. VinFast has installed this capability on the VF e34 electric car model
via a specially created application. Users can monitor all vehicle status metrics, operating history,
battery status, and set up assistance features using a smartphone when the car and phone are
connected.
• Preferential sales policy when buying VinFast electric cars: Young buyers frequently consider
the price while making a purchase. They want to own products but still ensure full amenities. In
addition, appealing incentives and promotions play a part in drawing in clients in the modern day.
However, the practice of shopping in installments has also grown in popularity in recent years. For
young consumers who wish to own a high-quality product line while saving money, this is an
affordable solution.
• Cost savings than gasoline cars: Another significant factor contributing to Vietnamese
consumers' gradual transition to electric vehicles was the difficulty of traveling due to the shortage
and rising cost of petroleum. In the first 6 months of 2022, domestic gasoline prices were
continuously pushed up. In one instance, the price of fuel "skyrocketed" above 30,000 VND per liter.
Able to continue everyday travel, drivers of gasoline-powered cars will incur significant costs.
Additionally, there was a gasoline scarcity in a few major cities, including Hanoi and Ho Chi Minh
City, in October and November of 2022. Numerous petrol stations have shut down and ceased
operations. People must wait in lengthy queues to get petrol, and in some situations, they must go
obtain gas at night to escape crowds.
Generally speaking, driving an electric vehicle is less expensive than driving a gas-powered
vehicle. Driving an electric car will be far more cost-effective than driving a gas-powered vehicle for
people with high mobility needs. When "rare gasoline" is scarce, as it is today, opting for an electric
vehicle is thought to be a better option. In reality, many people who own electric cars do not wish to
switch back to gasoline vehicles after experiencing and comparing the differences.
1.3 Consumer expectation
1.3.1.Prices:
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To have some overview about price, we have to compare it to other well-known brands.

VINFAST EV VNĐ (million) US (Dollar)

VF5 Plus Plus 485 $18,813

VFe34 710 $29,164

VF8 Eco 1,090 $44,773

VF8 Plus 1,270 $52,176

VF9 Eco 07 seats 1,491 $61,245

VF9 Plus 07 seats 1,705 $70,035

Picture 3.1: Compare prices of Vinfast car models

OTHER BRANDS EV VNĐ (million) US DOLLAR

Mercedes EQB 2289 $94,024

Audi e-tron 2022 3200 $131,443

BMW iX3 2023 3500 $143,767

BMW i4 2023 3760 $154,446

Mercedes EQE 2023 4000 $164,305

Porsche Taycan 2021 4760 $195,523

Picture 3.2 : Compare prices of car models from different car manufacturers.

It is evident that Vinfast's prices are reasonable for a startup electric car company, however they are
neither too high nor low when compared to other well-known brands.
1.3.2.Charging:
•VinFast Home Charger:The quickest charging rates (up
to 48A) for your VinFast car will be offered by the
VinFast Home charger, which will also come with
dynamic smart features that you can operate

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 directly from your smartphone. The VinFast Home charger may be installed indoors or outdoors and

is linked straight to your electrical grid.

•Vinfast Portable Charger: Every car purchase comes

with a VinFast Portable Charger, which provides the
most flexibility possible for charging at home or on the
move. You may install a 240V NEMA 14-50 outlet for
quicker charging (Level 2) or plug into a
conventional 120V wall outlet for slower charging
(Level 1) using the adapters that come with the

device

•Level 2 AC Charging: Easily accessible for you, no

matter where you are. The VinFast app makes it
simple to determine when and where to charge
when you're traveling and plan to stay at a hotel for a
weekend break, your favorite park, or your

neighborhood shopping center.

•Level 3 DC Fast Charging:You'll be prepared for

when your travels take you beyond. With Level 3
DC Fast Charging, you can get back on the road
with a 70% charge in as little as 25 minutes, no

matter where you want to drive.

1.4.Quantity of consumers

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A Vietnamese auto forum conducted a study and found that most respondents under 40 are more
accepting of electric vehicles in general. According to a poll conducted among 1,147 individuals in
the age range with a strong propensity to purchase a car, 99.4% of respondents over 25 had heard of
the idea of electric vehicles. 82% of respondents said they are interested in and have learned a lot

about electric cars; 31% said they are extremely interested in and have studied a lot about them.

Picture 3.3: Level of awareness about electric cars

(source: Vinfast)

Remarkably, among respondents who have done extensive study on electric vehicles, 46.08% of
respondents said they will most definitely decide to purchase an electric vehicle within the next

year.

Picture 3.4: Level of willingness to buy an electric car

(source: Vinfast)

When asked which electric car brand is most popular in Vietnam, 80% of consumers in the country
who are over 24 years old think of VinFast.The figure is sufficient to illustrate where VinFast

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electric vehicles stand in people's minds. Vietnamese awareness of consumers. Numerous experts
confirm that VinFast is progressively spreading throughout Vietnam as a common word to refer to
electric vehicles due to its current influence.

VinFast VF e34 has sold 782 units, placing it among the top 10 cars sold in June 2022.
Furthermore, this is the first electric vehicle among the top 10 most popular vehicles available in
Vietnam. Many are taken aback by this considering the VF e34 is essentially still a "rookie" car—it
was only formally given out and put on the road at the end of 2021. Incredible return for We can
observe that many Vietnamese consumers are supporting VinFast electric cars in general and the
VF e34 in particular. At the same time, the trend of using electric cars is also steadily gaining
popularity in Vietnam.

2. Supply
2.1 Technology and Partnerships:

Sharing about VinFast's investments and technology strategies, Mr. Sang Hong Bae - Deputy
General Director in charge of VinFast Technology - said: "At VinFast, we consider technology to be
the key to unlocking potential. New development capabilities, technology brings improved quality
of life to people around the world. That's why, in addition to significant investments in R&D,
finance and human resources, we also partner Collaborate and associate with many technology
partners globally to realize the goal of 'technology serving life', helping VinFast improve vehicle
safety as well as increase the enjoyable driving experience. , aiming to integrate smart support
systems into products''.

The description below shows some key components in order for an automobile in particular and an
entire ecosystem in general to run smoothly and detect potential errors as well as the suppliers with
whom Vinfast has had a partnership:

Battery raw materials:On December 13, 2022, Cavico Lao Mining and VinES, a Vingroup
subsidiary (now managed by Vinfast) that specializes in the development and mass production of
high-quality batteries for electric vehicles, reached an agreement regarding the sustainable supply of
nickel, which is a necessary component in the production of lithium batteries in addition to zinc.
Vinfast's vehicle manufacture will benefit from a stable battery supply chain, which will be
maintained by VinES, the primary producer, and over 620 additional suppliers worldwide.

Solid-state EV batteries (ProLogium): The first delivery is anticipated as early as 2024, and a
memorandum of understanding on safe battery supplies for its next-generation vehicles has been

24
 agreed upon. "ProLogium is one of our key partners, helping VinFast quickly master the supply of
solid-state batteries." said Vinfast Auto Ltd. CEO Le Thi Thu Thuy. Why, however, is this the case?
What goals or intentions are behind Vinfast's search for this battery technology? Real-world
research has shown that solid-state batteries perform better than their liquid electrolyte equivalents
due to their higher energy density and faster charging times. These benefits eventually improve
overall efficiency and significantly lower the cost of an electric vehicle.

LFP batteries (Gotion High-Tech): has a reputation as one of the leading producers of lithium
batteries in China, with eight R&D facilities across the globe and ten additional production
facilities. We can get the conclusion that working with Vinfast will be beneficial. With plans to
establish its first LFP battery manufacturing in Vietnam, there is a ton of opportunity. "LFP" stands
for "Lithium Iron Phosphate," and while it is not as energy-rich as nickel-based materials, it is far
less expensive.

Logistics optimization software solutions (INFORM): VinFast's plans to enter international

markets will undoubtedly complicate its logistics. Vinfast has chosen to work with INFORM, a
business that has acquired recognition among its partners in Canada, the US, and Europe, in
recognition of this. The Yard Management System (YMS) and Transport Management Software
(TMS) are included in the software bundle. They were built on the principles of artificial
intelligence and empirical research, and they can handle vast volumes of data and provide the best
recommendations based on analysis done in real-time. Vinfast hopes that by applying the solutions,
it can achieve an optimized and cost-saving procedure from start to finish and be more flexible
when executing customer assistance.

Autopilot 2+ (VinAI): This program was entirely created in Vietnam to work with the country's
transportation and environmental requirements. The car can automatically use the brake, gas pedal, and
steering wheel thanks to more than 2 million labeled frames and over 40 thousand kilometers of real-time
traffic data. This ultimately reduces the amount of errors caused by humans. Drivers should exercise
caution when depending too heavily on the program, though, as it is yet unable to completely replace a
human being. Level 2 autonomy still requires drivers to partially participate in driving and only when
Level 5 autonomy is reached will the drivers be rid of all tasks since zero human interaction and attention
is demanded.

Driver Monitoring System (VinAI): The system's objective is to assess the drivers' conduct and offer
assistance when needed. Even if the driver is wearing sunglasses or a face mask, the system's infrared
cameras and sensors can identify whether they are fatigued, drowsy, or preoccupied. If so, it will activate

25
alarm signals. When the driver does not reply to the control request after a predetermined amount of time,

Automatic Emergency Stop Assist kicks in, enabling the car to stop on its own with the assistance of
"Autopilot 2+."

2.2. Showroom and distribution channel

VinFast provides "1S, 2S, and 3S '' footprints may be seen at VinFast Stores. VinFast 1S stores are
largely concentrated on car exhibitions and sales, and they are situated in high-visibility shopping
centers. The largest VinFast shop type, VinFast 3S stores, include automobile and parts sales as well as
goods and service centers. Clearly marked out on busy roads, VinFast 2S locations provide parts and
servicing in addition to assisting nearby VinFast 1S stores. Furthermore, these VinFast 2S stores
support neighborhoods that lack other shop types yet have a strong VinFast client concentration.

Picture 3.5: Quantity of showrooms globally

(Source: Vinfast)

As of June 30, 2023, VinFast has 126 showrooms for electric cars globally (including: Vietnam, the
US, France, Germany, Netherlands and Canada) and 245 showrooms and service workshops for
electric motorbikes.

2.3.Sales Strategy/Marketing

2.3.1. Brand management

a) Brand identity

Brand identity refers to the visual elements of a brand—such as color, logo, and design—that, in the
eyes of consumers distinguish it from rival businesses. VinFast hopes to rise to the top and take the
26
lead in the Vietnamese auto sector as soon as possible.The name VinFast is derived from the
Vietnamese phrase “Vietnam (–VIN) – Style (phong cách –F) – Safety (an toàn –A) – Innovation
(sáng tạo –S) – Pioneer (tiên phong –T)”

The two Vs stacked in a 3-D fashion that make up the brand's insignia signify the beginning of a
new age in automobile development and the genuine connection. When examined via multiple
perspectives, such as Vietnam, Vingroup, and "Vươn lên," it becomes logical.The sleek and
sophisticated silver tone of VinFast's logo conveys the sophistication of a chic and up-and-coming
automaker. This emblem will be incredibly noticeable and brilliant when paired with dark blue, red,
or black automobile paint.

Themes of exploration, dynamism, open-mindedness, and connection permeate every visual

element of VinFast. VinFast's mission statement "To create a more sustainable future" is directly
tied to this.

b) Brand positioning

VinFast is a premium automobile manufacturer from Vietnam that has long held the top rank and
served as an emblem for automakers, demonstrating its dominance in the country. VinFast is
likewise making an effort to make a name for itself in the US market. According to VinFast's plans,
at least 25 VinFast sites will open in Germany, 20 in France, and 5 in the Netherlands. VinFast
continues to sell its products as technical cars that are easy to operate and offer the best quality for
the customer since its target market is usually people between the ages of 20 and 45. To attract
younger consumers and strengthen the VinFast trademark's distinctive positioning, new digital
connections are being built in addition to traditional marketing channels like TV advertisements and
events.

c) Brand value

VinFast has increased the value of its brand by working with several reputable foreign companies.
VinFast first worked with two well-known Italian designers, ItalDesign and Pininfarina, but
thereafter let Vietnamese people use a survey to choose their preferred designs. VinFast made a
pretty wise decision with this, and clients will definitely be open to the styles they choose.

In the automotive quality platform, VinFast has collaborated with internationally recognized
businesses like Bosch and Magna Steyr, AVL, ZF, GROB, Thyssenkrupp, AVLand MAG, etc. Not
only does that world offer great quality, but it also helps to cultivate a positive perception in the
minds of the general people.
27
Additionally, Vingroup's substantial financial and technological backing, along with the company's
well-known brand and high level of public and consumer trust, all tremendously assist VinFast.

2.3.2. Marketing strategy

a) Services

VinFast can effectively oversee and manage the safe handling of batteries once their usable lifespan
has gone, in accordance with the appropriate rules, by implementing a battery rental system rather
than selling batteries outright. In addition to reducing consumer use-related concerns, this technique
also lessens environmental threats. In addition, a 10-year or 200,000-kilometer warranty service is
one of VinFast's distinguishing features. Considering that competitors like Tesla's Model 3 only
offer an 8-year or 120,000-kilometer guarantee, VinFast has an advantage over its consumers
thanks to its extensive customer care services and superior maintenance. Moreover, through mobile
services (offered by a fleet of EV vans), roadside assistance, and remote care (diagnostics and
virtual repairs), "invisible service" program will strive to provide best-in-class convenience to
customers. All of these services will be accessible via customer app or 24/7 service centers.

b) Price

Even while VinFast aims to cater to the middle and higher classes with its high-end, luxury SUV
line, it has adopted a competitive pricing strategy, lowering its price in comparison to competitors
in the same market as Tesla while keeping almost the same level of quality. In order to justify
VinFast's choice to charge less than its competitors:

VinFast produces the battery packs at their plant located in Vietnam. As part of its "3-legged tripod"
strategy, VinFast has invested in building the first and largest LFP rechargeable battery facility in
Vietnam. In order to ensure that it can generate the necessary number of battery cells for VinFast's
electric cars using LFP batteries, the joint venture factory that produces LFP rechargeable battery
cells employs a highly automated, cutting-edge, and optimized manufacturing approach. Moreover,
VinFast electric cars' autonomous battery supply plan heavily relies on the LFP battery cell facility.

28
Make use of battery leasing services while promoting electric automobiles. VinFast has chosen to
rent and change batteries rather than sell them, which will lower VinFast's final cost in comparison
to its rivals. VinFast will have a price edge over rivals as a result.

Criteria Vinfast VF8 Kia EV6 Tesla Model Huyndai Ford Mustang
Y Ioniq 5 Mach-E

Size D D D D D

Type SUV SUV SUV SUV SUV

Version Plus LR LR AWD LR AWD LR AWD USA ER AWD

75kWh

Base price 48,000 52,700 61,000 50,340 58,000

(USD)

Launching 2022 2021 2019 2021 2019

year

Torque 620 Nm 605 Nm 644 Nm 605 Nm 580 Nm

Power AWD 300 AWD 239 AWD 378 AWD 239 kW AWD 258 kW
kW (402 hp) kW (325 hp) kW (514 hp) (320 hp) (346 hp)

Battery 87.7 kWh 77.4 kWh 70 kWh 77.4 kWh 88 kWh usable
capacity usable usable usable usable

Range 447 km 506 km 507 km 412 km EPA 540 km WLTP

WLTP WLTP WLTP

Source: arenaev

c) Promotion

Entering a competitive market like the US, where there are many large companies in the electric
vehicle industry, VinFast had to invest heavily in advertising to promote its products to consumers.

i. Influencer marketing

29
VinFast has hired well-known people from throughout the world to promote itself. At the 2018
Paris Motor Show, VinFast sent an invitation to David Beckham, one of the most expensive players
in the world and a former international football star, to become a strategic partner. Moreover,
VinFast extended a strong invitation to a renowned group of international influencers to attend the
LA Auto Show 2021 event. The guest cast includes female YouTuber Supercar Blondie, who has
42 million social media followers and is the world's top supercar reviewer; Nas Daily, a popular
YouTuber known for his "one-minute" experience videos; Mitch Summer; Markian, a well-known
YouTuber/Instagrammer; and several well-known Vietnamese-American celebrities, such as actress
Lana Condor, director Maria Tran, who is Australian-Vietnamese, and athlete Suni Lee, who is
Hmong American.

ii. Advertising

VinFast aggressively promoted its brand on all significant American social media channels in order
to raise awareness of it. These platforms included CNN, Carbuzz, Driving, Cision, and other well-
known publications, as well as an outstanding TV commercial with the slogan "Boundless
Together" and interviews on CNBC. At the Los Angeles Auto Show in 2021, the whole VinFast
electric car debut was broadcast live from Times Square in New York City, USA, to highlight how
important it is to attend. One strategy that helps VinFast quickly and widely reach more US clients
is advertising on well-known sites.

iii. Events

VinFast launched its new products at the world's leading automotive and technology events,
including:

Vinfast with the appearance at the Paris Motor Show: The real image of the two models was
unexpectedly made public on September 30 in the morning. This presents VinFast with a wonderful
chance to demonstrate its capabilities to important partners and gain leverage when negotiating
manufacturing or cleaning collaboration. This time, Lux A2.0 and Lux SA2.0 were the details that
were made public at the Paris Motor Show. Apart from the publicly displayed pictures and technical
specifications, Vietnamese consumers have always been concerned about Vietnamese-made goods.
Fans have been inspired by Vinfast's participation at one of the biggest car exhibitions in the world,
and it is also anticipated that Vinfast will be able to make an impact in the global market.

30
Vinfast and CES Exhibition 2022: On January 6, 2022, On January 6, 2022, Vinfast suddenly
participated in the CES exhibition - the largest and most influential consumer electronics exhibition.
Participating in the CES 2022 exhibition with the message "Destination: The Future" VinFast has a
strong belief that the only way to solve the current climate crisis is to "live greener - smarter"
together.

Xanh SM and “Green Car Experience”:

On 14/4/2023, Xanh SM - a pure electric taxi company using Vinfast’s cars - officially operated
from April 14, 2023, in Hanoi and quickly expanded to Ho Chi Minh City, Hue, Nha Trang, and Da
Nang after just a few weeks of opening.

In more than two months of operation, Xanh SM has served more than 1 million trips and sent 3
million greetings to customers. Along with the welcoming attitude is the spirit of dedicated and

31
professional service, bringing 5-star experiences for the first time applied in the passenger transport
industry in Vietnam.

With outstanding service quality, Xanh SM has become a civilized and modern "green mobility
symbol" warmly welcomed by customers.

Mr. Nguyen Van Thanh - General Director of GSM Company - said: "Even though it has just
launched for a short time, Xanh SM has quickly exceeded the initial plan, receiving the trust and
companionship of customers. This has encouraged our spirit, urging us to aim for a more
challenging goal of expanding to at least 27 provinces and cities across the country this year. In
particular, we are proud that even though we have just entered the market, Xanh SM has contributed

to establishing classy service standards for the passenger transport industry in Vietnam."

iv. Public relations

As a global partner of IRONMAN and its series of high-volume sporting events that assist millions
of people globally, VinFast takes advantage of the opportunity to promote itself to a global audience
while concurrently encouraging the uptake of electric vehicles. Furthermore, VinFast collaborates
with AKQA, a media company that is well-known in the advertising industry, as a global strategic
consulting partner. VinFast received assistance from AKQA in getting their TV ads to air on CNN
worldwide.

2.4 Expectation

VinFast has been expanding its product line recently, and on September 29, 2023, it will formally
introduce the B-class electric SUV (VF 6) to the Vietnamese market. In addition to introducing the

32
new automobile model, VinFast intends to work with agents and distributors across the world to
change its business strategy and broaden its network of distribution channels. The new approach
will optimize investment costs while increasing client access and accelerating presence in key areas.
VinFast may provide agents access to certain of its stores in order to assist them in fast creating
outlets in the beginning. Additionally, VinFast keeps up and advertises the greatest after-sales
program available.

In terms of operational scope, the company intends to expand by the end of 2024 into at least 50
additional international markets. After the previously disclosed intention to develop plants in the US
and Indonesia, VinFast recently revealed plans to build an assembly factory in India, a new market
that is the third largest vehicle market in the world. With a phase 1 capability of up to 50,000
automobiles annually, the facility in India is anticipated to require a total investment capital of
around 150–200 million USD.

VinFast's Chief Financial Officer, David Mansfield, stated: “We are focusing on implementing
cost-cutting initiatives to reach our goal of profitability. VinFast is increasing vehicle deliveries as
planned and is ready to expand in strategic markets such as Indonesia and India. The company
continues to seek opportunities to optimize investment performance and strengthen its balance sheet
to support growth and achieve further success.”

With a ground-breaking business plan, exceptional speed and implementation ability, and
anticipated funding from sponsors, VinFast is prepared to embark on a new phase of expansion on a
worldwide scale.

CHAPTER 4: CONCLUSION.

1. SWOT Analysis

STRENGTH WEAKNESS
 The leadership team is made up of  Not a well-known brand in the market:
skilled people: When buying a car, this is the first thing
• Being led by Former Vice Chairman James customers think about. VinFast is not the
B.DeLuca of the largest automotive ideal choice for companies seeking a car
business in the US. that radiates prestige and luxury.
• Mr. Vo Quang Hue is appointed Deputy
General Director of the Automotive Sector,  Unsatisfied service, warranty, and
33
 in charge of the VinFast programs. Mr. maintenance: As a newcomer to the
Hue, who has over 40 years of expertise in market, VinFast's dealership network and
the manufacturing business. repair component availability are
• Ms. Le Thi Thu Thuy (former Vice obviously inferior to that of the more
Chairman and CEO of VIC) formerly established manufacturers, especially
worked at Lehman Brothers, where she Toyota, despite the fact that the dealership
served as Vice Chairman in Japan, network is growing and components are
Thailand, and Singapore. being made at competitive costs.
 Marketing and public relations
 Resources: capabilities for VinFast goods are not
 Favorable brand image: In this regard, advantageous: Most car buyers choose
Vingroup has established a favorable models based on their personal tastes. A
reputation via its accomplishments in brand's capacity to accommodate
tourism and real estate, which VinFast has individual styles is influenced by its
inherited. marketing capabilities, specifically those
 Vingroup is a financially robust firm, of the company. Vingroup's strong suit
and VinFast receives major financial support isn't marketing, though.
as a subsidiary of this group.

 High compliance level - Quality

management: Strict adherence to quality,
safety, and environmental regulations is
necessary for entry into many markets.
Vinfast has an edge over established
organizations since it is not burdened by
the present system, thanks to new
technological investments and a forward-
thinking mindset.
 Dense dealer network: VinFast acquired
GM Vietnam's entire dealership network
prior to the launch of its new models.
With 22 dealerships, this system has more
than 1.5 times as many as Mercedes-Benz
Vietnam.
 Design collaboration: VinFast
34
 collaborated with well-known design
companies like Pininfarina and ItalDesign
to create stunning and distinctive
automobile designs.
 Sophisticated technology:Advanced
automotive technology is featured in
VinFast vehicles. A better driving
experience is facilitated by smart
connections, touchscreen infotainment
systems, advanced driver assistance
systems (ADAS), and modern safety
features.

 Electric and hybrid options: VinFast

now offers hybrid and electric vehicles in
addition to its original inventory. This
illustrates the company's commitment to
sustainability and its alignment with global
trends toward eco-friendly transportation.

 Customer-Centric approach:
VinFast prioritizes customer-centricity by
providing cars that meet the needs and
tastes of its intended market.

 International expansion: VinFast

wants to grow beyond its domestic market.
The company plans to go global and sell its
cars to several countries, which will help
the Vietnamese automotive sector flourish
and promote the "Made in Vietnam" brand
overseas.
OPPORTUNITY THREAT
 Possibility of developing solutions that  Brand barriers: Customers'
cater to the majority by using technology psychological reluctance to select VinFast
35
 from partners: VinFast has taken the
initial stages by working with significant
partners including the BMW Group and
Italian design companies. Many
automakers throughout the world are
following this path as well, where we can
use technology from partners to create and
develop products that are appealing to the
majority on our own.
 Strong support from Vietnamese users
in the context of Southeast Asia's
fastest-growing domestic consumption:
• VinFast is the first firm with the goal to
create automobiles and the greatest
potential to make that aspiration a reality.
After years of desire on the part of the
Vietnamese people for a locally built
automobile, from the efforts of the
Vinaxuki brand to the famous brands
constructed in Vietnam before to 1975,
such as La Dalat, this demonstrates that
VinFast has the edge as the "leader" in the
Vietnamese market.
• Meanwhile, data indicates that Vietnam is
experiencing the fastest rate of growth in
automotive use within the ASEAN region.
Young people are drawn to it since it is the
first car that is "made in Vietnam" and they
want to own one or know what it's like to
drive one. Not to mention that Vietnam has
products over those from other, decades-old
companies is a major factor influencing
their decision-making when it comes to new
car model.
 Limitations in the Vietnamese
automotive supporting industry :The
localization rate in the industry is still low,
and the domestic supporting industry has
not grown significantly despite government
attention and backing. Only a certain
quantity of component groups and spare
parts can be produced by Vietnam's
automotive assembly and manufacturing
sector.
 Market expansion pressure :Due to
the small size of the domestic market,
VinFast must boost production in order to
benefit from economies of scale. VinFast
will therefore need to export to other
markets in order to find a solution to this
issue.
36
 very high import taxes on cars, so when a
local automaker appears, it will be well-
received.

 As infrastructure improves, there is

enormous potential for satisfying the
psychological demands of Vietnamese
individuals who desire to possess a car:
The expansion of urban projects outside of
cities, bolstered by improvements in
infrastructure, influences consumer
demand for automobiles. The current trend
in conventional housing is for high-end
apartments with complete facilities. They
provide inexpensive, spacious parking
lots. When these traits are combined, they
give us a more comprehensive and
optimistic view of the trend toward car
ownership.

2.Offering recommendations

• In addition to battery packs, VinFast has to continue increasing autonomy in critical

components including engines, gearboxes, and steering systems. By achieving more
manufacturing self-sufficiency, VinFast will be able to significantly reduce production costs
and provide customers with more inexpensive rates. Moreover, VinFast will have greater
freedom to develop and produce a more original product that embodies the distinct "VinFast -
A Vietnamese car brand" character by not relying on a combination of parts from many
manufacturers.
• VinFast may also employ price strategies for promotions to attract more customers. These
consist of distributing coupons or other rewards to clients who make one-time payments,
providing free warrants, and providing discounts on special events like Black Friday.
However, this is merely a short-term strategy and should not be employed again.
• Via its events, gatherings, test drive programs, and interactive live platforms, VinFast may
expand the opportunities for direct customer engagement and messaging. VinFast can build
solid relationships with clients because of this.
37
• Before branching out throughout the nation, VinFast has to establish more service centers in a
few strategic places where consumers use electric cars the most in order to provide them with
an improved experience in a quick and convenient manner.

38
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