Vietnam’s VinFast pledges to ditch gas-powered cars in a year

Automaker VinFast is pivoting fully into electric vehicles, just two-and-a-half years after moving into the segment – seeing future growth to be in electric rather than gas-powered vehicles. — AFP

VinFast will stop making gas-powered autos by the end of 2022 – just two-and-a-half years after the first ones rolled off the company’s northern Vietnam assembly lines – as it ramps up global sales of electric SUVs with plans for EV factories in the U.S. and Germany.

The company will focus exclusively on electric vehicles because it presents VinFast a big opportunity in a nascent market, said Le Thi Thu Thuy, vice chairwoman of Vingroup JSC, the parent company of VinFast.