In a bold move to strengthen Vietnam’s automotive supply chain, VinFast has announced a sweeping support package for local component manufacturers—including a 50% land rental discount and a commitment to buy back their products. This initiative is part of the company’s mission to build a high-tech Vietnamese auto industry and create shared success across the value chain.

The announcement came during VinFast’s largest-ever “Supplier Conference on Localization and Supply Chain Development” drawing over 1,000 industrial and supporting industry companies operating in Vietnam. Among them were 700 existing partners and more than 300 potential suppliers looking to join VinFast’s expanding global EV ecosystem.

Ambitious Goals, Strong Incentives

Speaking at the event, Ms. Thai Thi Thanh Hai, Vice Chairwoman of Vingroup and Deputy CEO of VinFast Global, outlined the company's aggressive targets:

• 80% localization rate by 2026

• Annual production exceeding 500,000 vehicles by 2027, with plans to reach 1 million vehicles by 2030

To meet this demand and empower Vietnamese businesses, VinFast is offering attractive incentives for domestic suppliers willing to invest in facilities at the company’s production hubs in Hai Phong and Ha Tinh:

• 50% land lease discount for the first 3 years

• 20% discount for the following 5 years

More importantly, VinFast will guarantee purchase of supplier output based on mutually agreed production plans. The company also plans to facilitate connections between Vietnamese firms and international partners, enabling technology transfer and capability enhancement.

A Commitment to Shared Growth

“We want to share development opportunities and success with local businesses,” said Ms. Hai. “Together, we can build a strong internal foundation and elevate Vietnam’s global competitiveness in the automotive industry.”

The conference marked a turning point in Vietnam’s push to become a leader in Southeast Asia’s supporting industries. For local suppliers, this isn’t just an opportunity to expand—it's a gateway into the global EV supply chain.

The Bigger Picture

VinFast, the region’s first and only pure electric vehicle brand, currently operates two major production complexes in Hai Phong and Ha Tinh, and is building additional plants in India and Indonesia. The company’s EVs are gaining traction in both domestic and international markets, going head-to-head with established global automakers.

Since its founding just eight years ago, VinFast has become Vietnam’s top-selling car brand since 2024 and is rapidly expanding its presence overseas.