VinFast, the Vietnamese automaker, has been making significant strides in the Southeast Asian electric vehicle (EV) market. Here are some key points:

1. Sales Performance:

   - During the first quarter of 2024, VinFast achieved impressive results. They delivered a total of 9,689 vehicles, marking an astounding 444% year-over-year growth.

   - Total revenues for the same period reached $302.6 million, representing a substantial increase of 269.7% compared to the first quarter of 2023.

   - These positive numbers reflect successful campaigns, including the expansion of VinFast's dealership network and customer interest in their new electric car models.

2. Market Position:

   - VinFast secured the second-highest EV sales in Southeast Asia during Q1 2024, trailing only behind China's BYD.

   - Chinese and Vietnamese EV sales have been booming in the region, surpassing traditional internal combustion engine (ICE) car sales dominated by Japanese and Korean companies.

   - The company aims to sell 20,000 of its tiny EVs (priced at less than $10,000) in Vietnam this year, with deliveries starting in August.

3. Global Expansion:

   - VinFast is actively expanding its presence beyond Vietnam. In Q1 2024, they launched their brand in Thailand and Indonesia, entered the Middle East, and began construction of a manufacturing facility in India.

   - The U.S. market also showed promise, with several new dealers reporting sales figures. VinFast has secured partnerships with 10 new dealers, bringing their total U.S. network to 16 dealers across 7 states.

It's exciting to witness the growth of EV adoption in Southeast Asia, and VinFast's commitment to delivering 100,000 electric vehicles in 2024 is commendable!