Vietnam’s EV maker VinFast plans to begin exporting its first electrical automobiles to Europe this yr, CEO Le Thi Thu Thuy informed Reuters.

VinFast has obtained regulatory approval to promote its EVs in Europe, and the timing couldn’t be higher seeing because the EU considers imposing tariffs on its Chinese language rivals.

“We anticipate to ship the primary VF8 fashions to French, German and Dutch clients within the fourth quarter of this yr,” Thuy mentioned. She added that VinFast would launch extra fashions – the VF6, VF7, and VF9 – within the European market in 2024.

An unnamed supply accustomed to the plan informed Reuters that about 3,000 VinFast VF8 electrical mid-size crossovers could be delivered to France, Germany, the Netherlands, and Israel within the fourth quarter. The VF8 EVs will likely be shipped from VinFast’s plant in northern Vietnam.

VinFast CEO didn’t disclose what number of VF8 SUVs will likely be delivered to Europe this yr. If the details about 3,000 VF8s coming to Europe subsequent quarter is correct, the area would turn into the Vietnamese carmaker’s greatest abroad market this yr.

At the moment, its largest abroad market is america, the place VinFast shipped about 2,100 VF8 EVs earlier this yr and plans to begin deliveries of the bigger VF9 SUV by the top of 2023.

107 Photographs

VinFast initially deliberate to debut in Europe within the second half of 2022, however the international scarcity of semiconductors compelled it to push again the launch.

Within the first half of this yr, VinFast delivered 11,315 electrical automobiles, the bulk in Vietnam. The corporate reaffirmed its 2023 supply goal of 40,000 to 50,000 automobiles.

For 2024, the automaker is focusing on to enter an extra 50 markets worldwide.

The Vietnamese firm’s push into Europe comes because the European Union is launching an investigation into Chinese language state subsidies for electrical automobiles at a time of fears that low-cost imports from China will flood the market.

Chinese language carmakers, together with EV chief BYD, SAIC-owned MG, Geely-owned Zeekr, EV startups Nio and XPeng, amongst many different smaller manufacturers, are getting ready to extend gross sales in Europe by launching extra reasonably priced merchandise.

In response to the EU’s investigation into Chinese language subsidies for EVs, the Chinese language Ministry of Commerce described the probe as a “bare protectionist act,” including that the Chinese language EV sector’s aggressive benefit doesn’t stem from subsidies. The ministry additionally mentioned it can “firmly safeguard the authentic rights and pursuits of Chinese language corporations.”