Vietnamese EV maker rapidly expanding network in the US. Experts say don't sleep on this

As the domestic and longstanding foreign automakers work to launch more electric and hybrid options for would-be American buyers, Vietnamese automaker VinFast Auto Ltd. is rapidly expanding its U.S. dealer network to sell its EVs.

VinFast in November announced its expansion across the country with plans to have “hundreds” of points of sale by the end of this year. It's also building a manufacturing plant in North Carolina, a tangible signal of its competitive intentions in the world's richest car market.

The company is yet another competitor to legacy U.S. automakers, but experts and reviewers of the VinFast product aren’t so sure how much of a concern the EV maker should be. Still, they say its U.S. expansion shouldn't be ignored, either.

“They have a massive uphill battle ahead of them,” said Paul Waatti, director of industry analysis at AutoPacific, a market research and consulting firm. “The fact that they've broken into this market at all is noteworthy, and the fact that they're building a plant is very noteworthy.”

VinFast still has much to prove in the U.S. market, just like other foreign automakers did when they set up shop. "When the Germans came in, and the Japanese and the Koreans, it wasn't pretty," Waatti said. "It took decades to build American trust and name recognition, and VinFast is going to be no different."

VinFast's expansion in the United States comes at a moment when President Joe Biden, Republican presidential front-runner Donald Trump and lawmakers from both parties are raising concerns about competition from Chinese automakers, primarily in the electric-vehicle, battery and related components space.

Less than two weeks ago, the Biden administration unveiled plans to investigate the national security risks posed by internet-connected vehicles from Chinese companies. That announcement came after reports that Chinese electric vehicle powerhouse BYD Co. Ltd. was considering building a manufacturing plant in Mexico, stoking fears the company's comparatively cheap EVs could come into the United States under the USMCA trade deal and crush competitors.

VinFast has escaped the scrutiny and handwringing over Chinese competition.

"The fact that they are building a factory here in the U.S. ... they have the backing of the U.S. government, North Carolina government, that's something that a Chinese company probably wouldn't be able to pull off right now," Waatti said.

VinFast's US push

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