Op-Ed: Back in Hai Phong and the Third Time’s Even More Electrifying

VinFast has solidified its position as a formidable player in the electric vehicle (EV) market, demonstrating remarkable growth and industrial capability since its ambitious pivot from internal combustion engines to an all-electric future. Revisiting the company’s vast manufacturing complex in Hai Phong, Vietnam, reveals a transformation from a nascent operation into a high-output facility running continuous three-shift production. The factory now operates at around two-thirds of its 300,000-vehicle annual capacity, with deliveries nearly doubling year on year to reach almost 200,000 electric vehicles in 2025, generating revenues of approximately $3.6 billion. The company’s journey has not been without challenges. Early criticism from Western media targeted VinFast’s initial EV models for quality and software issues, often overlooking the fact that the firm was still refining its manufacturing processes. Despite these hurdles, VinFast has focused on building a comprehensive industrial ecosystem, with continuous improvements evident in both product and production scale. The current lineup includes the compact VF3 city car, popular in markets like the Philippines, and the ultra-luxurious, armoured Hac Long 900, based on the VF9 platform, illustrating the brand’s expanding product range and ambition. VinFast’s electric two-wheeler division has also seen explosive growth, reaching over half a million units sold and produced, with a 473 percent increase in manufacturing volume by the end of 2025. The dedicated e-scooter plant utilises advanced automation and integrated production techniques, enabling it to meet soaring demand efficiently. This division alone delivered more than 400,000 units domestically in 2025 and maintained a strong start to 2026, including a record month in March with over 93,000 units shipped. Looking ahead, VinFast’s leadership remains confident in sustaining this rapid expansion. The company aims to maximise its current manufacturing capacity by hitting 300,000 vehicle sales in 2026, with plans to scale further under the stewardship of CEO Pham Nhat Vuong’s successor, his son Quan Anh. VinFast’s trajectory suggests it is not only competing but potentially setting new benchmarks in the global EV industry, particularly by leveraging its integrated production capabilities and willingness to iterate swiftly.