In a recent development, VinFast, the Vietnamese car manufacturer, has opted to withdraw its participation from the highly anticipated IAA Mobility show in Munich, Germany, scheduled for next month. While the reasons behind this decision remain undisclosed, it appears to be aligned with the company’s shifting focus towards the U.S. market following challenges encountered during its European expansion efforts.
Last year, VinFast had ambitious plans to launch its VF 8 and VF 9 SUVs in Europe, but faced hurdles in meeting the necessary homologation requirements within the stipulated timeframe. In addition, the company’s planned launches in key European markets, including Germany, France, and the Netherlands, were further delayed due to the introduction of more stringent safety regulations, as recently reported by Auto News.
See also: VinFast Initiates Construction of First U.S. Electric Vehicle Plant in North Carolina
Despite a decline in the popularity of auto shows in recent years, this year’s IAA Mobility event is shaping up to be significant, with prominent German brands such as Audi, BMW, Mercedes-Benz, Porsche, and Volkswagen confirming their participation. Several other well-known car manufacturers, including Tesla, BYD, Dongfeng, Hongqi, Leapmotor, and Seres, will also showcase their vehicles at the event. Furthermore, major technology players like Google, Luminar, Qualcomm, Nvidia, and Amazon Web Services are set to make their presence felt.
Although VinFast has chosen not to be part of the Munich event, the company is actively engaged in other endeavors. On July 28, a groundbreaking ceremony was held at its U.S. factory located in Chatham County, North Carolina. With an initial investment of $2 billion in the first phase of the project, the factory is planned to include a body shop, a general assembly area, a press shop, a paint shop, and an energy center.
See also: Vietnamese EV Maker VinFast to List in the U.S. through SPAC Merger
mpany’s focus on the U.S. market will unfold, while its European expansion plans undergo reassessment.
