VinFast postpones expansion in Thailand, global electric car market cools down
AshleyAug 23, 2024, 04:43 PM
Vietnamese electric vehicle manufacturer VinFast Auto Ltd recently announced a delay in its expansion into the Thai market, and the originally planned dealership network will be put on hold. This decision is largely due to the overall sluggishness of the Thai passenger car market and the global downturn in the electric vehicle market.
VinFast said in a statement that the company will reassess the timing of entering the Thai market. This decision echoes the challenges faced by electric vehicle manufacturers worldwide. Automobile giants like Ford, General Motors, Volkswagen and Tesla have recently downgraded their electric vehicle production targets. And in response to the current market situation, VinFast announced last month that it will delay the start of production at its new North Carolina factory by three years to 2028 in order to optimize resource allocation and focus on short-term growth. At the same time, the company has revised its annual sales target from 100,000 units to 80,000 units.
VinFast emphasizes that the delay in the Thai market expansion is to ensure that its business operations meet global standards. In March of this year, the company had signed letters of intent with multiple Thai dealers with plans to open 22 showrooms in the greater Bangkok area. Despite this, Thailand remains an important part of VinFast's global strategy. The company said that business plans in other regions will remain unchanged, apart from the Thai market.
VinFast founder Phạm Nhật Vượng has publicly stated that he is full of confidence in the future of the company and is willing to fully support the company's development. The company plans to expand its business to 50 countries worldwide by 2024 and has launched new production projects in India and Indonesia.
If any infringement occurs, please contact us for deletion
605 km range: 2025 BYD Song Plus EV debuts with upgraded smart cabin
On August 19th, it was learned from BYD official that the 2025 BYD SONG PLUS EV officially went on sale. The new vehicle has launched three configuration models with a price range of 149,800 - 175,800 RMB. As a revised model, the new car has been upgraded in detail, intelligence, and three major aspects of configuration, adding 19-inch two-color wheel hubs, new Xuantian color / sandy rice interior color matching, equipped with intelligent cockpit high-end version -DiLink100 and standard 16 core
BYD Seal 06 GT is about to debut: a cruising range of 600km and a new pure electric GT choice
On August 23, BYD Ocean Network officially announced that its brand new pure electric mid-size sedan is named BYD Seal 06 GT, which will debut at the Chengdu Auto Show in China on August 30. The new car is built on the BYD e 3.0 Evo platform, adopts a new ocean aesthetic design language, and is aimed at the mainstream pure electric mid-size sedan market.The official statement, BYD Seal 06 GT will become the first GT created by the BYD Ocean Network, promoting the development of the seal series i
BYD Yangwang U9 officially delivered: 0-100 km/h in 2.36 seconds, top speed of 300 km/h
On August 16th, we learned from the official of Yangwang Auto that the first car of its second model, Yangwang U9, officially came off the assembly line and is about to start delivery. The new car was launched on February 25th at a price of 1.68 million yuan. Yangwang U9 is positioned as a pure electric sports car with easy four-way platform technology and Yun-N-X intelligent body control system, accelerates from 0-100km/h in 2.36 seconds, and can reach a top speed of 300km/h.On the exterior, th
Official interior pictures of BYD SEAL 06GT release, the first GT for young people has arrived
On August 26, BYD officially released the BYD SEAL 06GT interior official map.BYD SEAL 06GT is acclaimed as "the first GT for young people", and is expected to make its official debut at the Chengdu Auto Show in China.As can be seen from the official image, the interior design of the BYD SEAL 06GT still adopts the latest family design style, with a floating-style center control screen, all-LCD meter, three-spoke steering wheel, and electronic gear lever, similar to that on the BYD SEAL 06 DM-i.
Proton S70 four models configuration comparison: RM 73,800 to RM 94,800, what is the difference?
Proton S70 is a compact car that was officially launched in November 2023. It was produced at the Proton's Tanjung Malim factory and offers four configurations: Executive, Premium, Flagship, and Flagship X with prices ranging from RM 73,800 to RM 94,800. So what is the specific price difference between these four models? This article will analyze the differences based on hardware configurations to provide you with purchase guidance.2024 Proton S70 1.5T Executive: RM 73,8002024 Proton S70 1.5T Pr
Popular Cars
Car Compare