In August, the most eye-catching company in the US capital market turned out to be a newly listed automobile company, Vinfast, which is called Vietnam Tesla. The founder of this company is also known as the Vietnamese version of Xu Jiayin. The company's technology basically comes from China.
Vinfast was founded by Pham Nhat Vuong, the richest man in Vietnam. Pham Nhat Vuong started in the real estate industry. After accumulating a huge amount of capital in the real estate industry, he founded Vinfast in 2017, hoping to enter the automobile industry. This is called the Vietnamese version of Xu Jiayin.
Vinfast has the ability to make money, so it has been arrogant from the very beginning. In the second year of its establishment, it acquired GM's factory in Vietnam in 2018, thus quickly possessing automobile manufacturing capabilities, but it did not develop its own brand at that time. Instead, it produces the hatchback economy model Opel for GM, which is mainly sold in Vietnam. In 2020, it sold 18,000 vehicles.
With the rise of Tesla, Vinfast saw opportunities in the new energy vehicle market and began to intervene in the new energy vehicle market to develop its own brand. Vinfast realized that Vietnamese people want to see local brand cars, so Vinfast emphasized from the beginning that this is a car made in Vietnam. Relying on the feelings of Vietnamese people, Vinfast has developed rapidly. In 2022, the sales volume of Vinfast's own brand new energy vehicles will reach 7,400. By the first half of this year, 11,143 vehicles had been sold, and the development was quite rapid.
Pan Riwang is soberly aware that building a car is very expensive, so Vinfast quickly went public in the United States after gaining a firm foothold. It was listed in the United States in August this year. Due to the demonstration effect of Tesla, Vinfast quickly won American investors after its listing Since its listing in the U.S. capital market, it has increased by nearly 7 times, and its market value has reached 190 billion U.S. dollars, second only to Tesla and Toyota. Exceeded by Vinfast.
With the name of Tesla in Vietnam, Vinfast is highly sought after by American investors. However, industry insiders have deeply analyzed Vinfast’s supply chain and found that most of these supply chain companies are from China. What started Vinfast turned out to be Chinese technology.
It is understood that Vinfast’s three-electric technology and smart cockpit are all from China, the battery is from Guoxuan Hi-Tech, the chassis is from CATL, the drive system is from Juyi Technology, and the smart cockpit technology is from Neusoft. It can be said that the core technology is completely from China, and then add A carriage designed by a European company is finally assembled into a car produced in Vietnam.
Although known as the Tesla of Vietnam, Vinfast relied on Chinese technology to assemble "Made in Vietnam" cars, and its market value slammed China's BYD, Wei Xiaoli, etc. It is said that BYD, whose monthly sales exceed 200,000 units, and even the much smaller Wei Xiaoli, have monthly sales of over 10,000 units, while Vinfast’s sales in the first half of this year only exceeded 10,000 units. It can be said that Vinfast is completely inflated. Bubble.
Vinfast also realized that it is difficult to support the dream of the world's third largest car company only by relying on the Vietnamese market. Therefore, it has entered the European and American markets and established factories there. However, it has suffered a head-on blow at the beginning. Only 128 cars were sold in the market, and they had to be recalled due to failures. However, there are already strong car companies in the European and American markets, and it is very difficult for Vinfast to develop these two markets.
In contrast, Chinese new energy auto companies have their own core technology advantages and have successfully developed in the European market. Driven by the massive export of new energy vehicles, China's auto exports have exceeded 2 million, surpassing Japan to become the world's largest export Facts have proved that only with independent core technology advantages can we really go global. Vinfast's name as the third largest car company may not last long.