VinFast CEO in Thailand: A Crucial Debut and Significant Roles in Television Companies

The successful debut of VinFast at the 2024 Bangkok International Motor Show (BIMS) marks a significant milestone for the Vietnamese car manufacturer as it enters the global stage. During the exhibition, Autolife Thailand, a renowned Thai automotive website, conducted an interview with VinFast Thailand’s CEO regarding the company’s business plans in the local market.

Who is the CEO of VinFast Thailand?

The CEO of VinFast Thailand is Ms. Vu Dang Yen Hang. With a crucial role in establishing the Vietnamese brand’s presence in Thailand and Southeast Asia as a whole, Ms. Hang’s leadership is instrumental in putting Vietnam on the automotive map.

Ms. Vu Dang Yen Hang was born in 1976. She holds a degree in International Economic Relations from Hanoi Foreign Trade University and a Master of Business Administration (MBA) from Washington State University, earned between 2003 and 2005.

Before joining VinFast, Ms. Hang held senior management positions in various companies, including CEO, Chief Operating Officer, and Deputy CEO of companies such as HTV3 Kids Channel, An Vien Television’s Southern Channel, YAN TV, SCTV, and Vinpearl. She was also the first female Deputy CEO of SCTV.

According to her LinkedIn profile, Ms. Hang became the CEO of VinFast Thailand in October 2023, five months after VinFast’s participation in the Future Mobility Asia exhibition. This event marked VinFast’s first announcement of its expansion into the Southeast Asian market, including Thailand.

VinFast’s Plans in Thailand

As the head of VinFast Thailand, Ms. Vu Dang Yen Hang is responsible for implementing the brand’s plans in the Thai market following their noteworthy debut at BIMS 2024. Alongside the expansion of electric vehicles (EVs), VinFast also aims to penetrate the Thai electric motorcycle market.

Although Thailand’s EV market is still relatively small, it is rapidly growing. According to market research firm Counterpoint Research, Thailand accounted for 58% of total EV sales in Southeast Asia in 2022, surpassing both Vietnam and Indonesia. However, the Thai EV market only represents around 0.5% of the global market.

This situation is expected to change due to government incentives and subsidies. Thailand plans to have electric vehicles account for approximately 30% of its newly manufactured vehicles by 2030 (up from the current 2.5 million vehicles produced annually).

“Before expanding into Thailand, VinFast conducted extensive market research to understand the preferences of Thai consumers. As a result, we plan to launch four domestic EV models in Thailand this year,” said Ms. Vu Dang Yen Hang in an interview with Khaosod English, a Thai newspaper.

Unlike Indonesia, where VinFast is investing in building a factory, Thailand is a market where the company has chosen to focus on retail sales, at least for the foreseeable future.

Initially, VinFast will concentrate on expanding its dealership network in Thailand through a 1S+ showroom format. With this model, dealers have the flexibility to invest in business operations and wait for consumer feedback. Subsequently, the company plans to establish additional sales and service centers in the form of 3S outlets.

Recently, VinFast signed cooperation agreements with 15 dealerships to open 22 showrooms, focusing on major routes in Bangkok and surrounding areas, including prominent provinces such as Chiang Mai, Khon Kaen, Ubon Ratchathani, Ayutthaya, and Chonburi.

In the initial stages, VinFast’s vehicles in Thailand will share charging stations with other EVs. However, the company also plans to collaborate with V-Green, a charging station construction company owned by VinFast.

“We aim to expand the distribution network to cover major cities in Thailand, aligning with the country’s strong green transportation revolution both domestically and globally,” Ms. Hang stated.

Additionally, VinFast is studying plans to manufacture EVs in Thailand to meet the criteria for receiving government subsidies. However, this may not happen in the near future.

“We need to assess the market response after our products are launched in Thailand,” added the CEO of VinFast Thailand.

Overall, VinFast’s entry into Thailand marks the beginning of an exciting chapter in the company’s growth. With Ms. Vu Dang Yen Hang at the helm, VinFast is poised to make a strong impact in the Thai automotive market.