VinFast’s Unequal Race and Tycoon Pham Nhat Vuong’s Chess Move
VinFast, a leading automobile brand in Vietnam, has been making waves in the electric vehicle market. Recently, a Mercedes electric vehicle owner shared a frustrating experience on social media. When trying to locate a charging station using the Mercedes app, the app only showed VinFast stations, which are exclusive to VinFast vehicles. This incident reflects the reality that no other car manufacturer in Vietnam has established a widespread charging infrastructure like VinFast. This presents both a challenge and an advantage for VinFast in terms of brand positioning and investment capital.
The Growing Electric Vehicle Race
The electric vehicle market in Vietnam is becoming increasingly competitive, with both local manufacturers and international brands entering the scene. Companies like CP TMT have introduced affordable electric mini cars, such as the Wuling HongGuang. VinFast, on the other hand, has showcased a range of electric vehicles in different segments, including the VF3, VF6, VF7, VFe34, VF5 Plus, and the high-end VF8 and VF9 models. Hyundai Thanh Cong has also launched the locally assembled Ioniq 5 electric car. Even luxury brands like Porsche, Audi, Mercedes, and BMW have introduced electric models to the Vietnamese market, albeit with limited charging infrastructure.
VinFast’s Comprehensive Charging Investment
While other electric vehicle manufacturers provide home chargers or limited charging services at showrooms and dealerships, VinFast is the only brand in Vietnam that has made a substantial investment in a public charging infrastructure. According to the latest updates from VinFast, there are currently charging stations for electric motorcycles and cars in all 63 provinces and cities in Vietnam. These stations are strategically located along national highways and provincial roads, with an average distance of 3.5km within urban areas and 65km on highways. VinFast has planned to install up to 150,000 charging ports nationwide, surpassing the numbers in countries like the Netherlands, France, and Germany.
The Need for Charging Stations in Vietnam
Although the electric vehicle market is growing rapidly, the public charging infrastructure is still insufficient to meet the demand. Therefore, it is crucial to continue building more charging stations, especially at rest stops and bus terminals, to facilitate the widespread adoption of electric vehicles. Some experts emphasize the importance of having standardized charging stations that can be used by all electric vehicle models, rather than restricting charging to specific brands. This would ensure a seamless charging experience and encourage the development of a comprehensive electric vehicle ecosystem.
The Role of Imported Electric Vehicles
In the case of imported electric vehicles, it is essential for manufacturers to invest in charging infrastructure as a condition for doing business in Vietnam. By prioritizing the development of charging stations, car manufacturers can contribute to the growth of the electric vehicle market in the country. However, currently, most imported brands sell electric vehicles without establishing a significant charging infrastructure. This issue needs to be addressed by implementing regulations that require imported electric vehicles to be accompanied by charging stations, similar to privately-owned petrol stations.
In conclusion, VinFast’s strategic investment in a comprehensive charging infrastructure sets it apart from other car manufacturers in Vietnam. With a wide network of charging stations and a commitment to expanding its reach, VinFast is positioning itself as a leader in the electric vehicle market. However, the industry as a whole must work towards building a robust charging ecosystem that supports all electric vehicle brands, ensuring a seamless transition to sustainable mobility in Vietnam.