Will VinFast, the “Vietnamese Tesla”, manage to produce and sell more than 1 million cars per year as planned from 2026?
The game is off to a bad start.
The electric car manufacturer sold only 34,855 vehicles worldwide last year and 42,291 between 2021 and the end of 2023... Over the months, the fabulous destiny of this new manufacturer, imagined by Pham Nhat Vuong, the Vietnamese billionaire founder of the conglomerate Vingroup - present in real estate development, leisure parks, hotel complexes, commerce, education and even health - has gone off the rails.
Until now, everything had succeeded for the businessman who had become the richest man in Vietnam in just a few decades.
Pham Nhat Vuong has experienced a meteoric rise in less than twenty years.
After studying in the USSR, this son of a modest family made his fortune in Ukraine in the 1990s making noodles and instant soups.
He hit the jackpot by selling this business to Nestlé in 2009…
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