VinFast, the Vietnamese electric vehicle (EV) manufacturer backed by Vingroup, has announced the opening of its first dealership in San Diego, California, with operations set to commence later this month. This move signals a notable strategic shift as the company leans into a dealership model in an effort to bolster sales across the United States.
Having initially pursued a direct-to-consumer sales strategy akin to that of Tesla, VinFast has reassessed its approach in light of a series of challenges, including tepid demand, intensifying competition and the implications of recently imposed U.S. tariffs on Chinese and Vietnamese goods. The company’s latest move underscores its renewed commitment to the American market despite these headwinds.
VinFast confirmed it is actively seeking and evaluating additional dealership opportunities throughout California, reflecting a broader recalibration of its market entry strategy.
Earlier this month, the company’s chair disclosed plans to introduce an electric bus to the U.S. market, further diversifying its product offering in the region. Concurrently, VinFast is in the process of scaling back its U.S. retail footprint by closing selected showrooms, with a renewed focus on expansion in Asian markets, including Indonesia and India.
Shares in VinFast edged slightly higher following the announcement.
-Reuters
