Vietnamese automaker VinFast has sent 150 electric vehicles (EVs) to Laos to launch an electric taxi service in the country. This move comes after VinFast’s successful implementation of a similar scheme in Vietnam. VinFast, which aims to compete with major EV manufacturers like Tesla, is eager to crack international markets.
Green and Smart Mobility JSC (GSM), the same parent company as VinFast, will operate the taxi service in Laos. GSM’s CEO, Nguyen Van Thanh, sees Laos as an ideal starting point for expanding internationally and promoting Vietnamese electric vehicles to global consumers.
Despite challenges in its international expansion, VinFast remains determined. In the first half of 2023, the company sold 11,300 vehicles, with 7,100 purchased by GSM. VinFast also listed on the Nasdaq in August, experiencing fluctuating share prices and a net loss of $623 million in the third quarter.
However, GSM has ambitious goals for the future. By the end of 2023, the company plans to expand its operations to 27 out of the 63 provinces and cities in Vietnam. They aim to achieve this by deploying a fleet of 30,000 electric taxis and over 90,000 electric scooters.
– Times Drive