Plenty of road left to run for EVs in Vietnam

Changing mindset: A VinFast electric SUV VF8 model displayed at a store in Ho Chi Minh City. The company faces an uphill battle in convincing consumers to switch to EVs in a country that has long relied on petrol vehicles that are easily accessible. — Reuters

HANOI: Vietnamese automaker VinFast is continuing its planned expansion into the United States with a US$2bil (RM8.8bil) plant in North Carolina and shifting its legal and financial headquarters to Singapore ahead of a potential public listing.

Such moves represent a significant step into the international market for Vietnamese electric vehicle (EV) technology. However, questions remain over how to conquer the domestic market of roughly 50 million motorbikes, among which petrol still reigns supreme.