Vietnamese automaker VinFast plans to start selling its electric vehicles (EVs) in Thailand. It has already made deals with dealers to open showrooms in the country.
VinFast faces stiff competition in Thailand from Chinese automakers like BYD and also Tesla, who are displaying their latest models at the Bangkok International Motor Show.
The Thai EV market is small but growing fast. The country plans to convert 30% of the 2.5 million vehicles it makes annually into EVs by 2030.
VinFast hopes to start selling both its electric scooters and electric SUVs in the country in the next two months, says Vu Dang Yen Hang, chief executive officer of VinFast Thailand.
Thailand accounted for 58% of all EV sales in Southeast Asia in 2022, ahead of both Vietnam and Indonesia, according to Counterpoint Research. But the EV market remains small, accounting for only 0.5% of EV sales worldwide in 2022.
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