The Economist projects Vietnam as SuperPotence of Electric Vehicles

The last edition of the British magazine The Economist Vietnam points out as one of the upcoming superpowers in the production of electric car in the world, alongside Indonesia and Thailand. In the case of Vietnamese, the bet is at Vinfost, a company with state -owned and national champion of electric cars production to the local market.

The company, which has already tried an onslaught in the US market with VF8, expands its production to the India and Indonesian markets.

Last year, the Vietnamese automaker announced that she plans to sell electric cars in the Brazilian market. The company – which has already registered models in the country such as VF3 and the VF Wild average pickup – says they are being formed “the basic pillars to settle in Brazil”.

Read more: Brazil and Vietnam Seal Strategic Plan by 2030 and expand economic partnerships

Vinfost has a recent plan to subsidize electricity in 150,000 recharge stations (largely Vinof’s property).

“More significant is political support. Like Marco Förster, from the consultancy Dezan Shira & Associates, he notes, the company is a ‘glory project’ to which Vietnam leaders are deeply linked.”

According to the magazine, Thailand is already the largest car producer in Southeast Asia and Japanese automotive companies depend on their automotive parts suppliers.

However, electric vehicles demand fewer pieces than ordinary cars. In addition, Chinese electric vehicle manufacturers in Thailand depend on parts manufactured in the country. Therefore, Thai policy risks a net reduction of jobs in car manufacturing.

“Indonesia has launched a series of incentives, ranging from tax exemptions to investment advantages. But the country is also trying to make the most of its mastery over the minerals needed for electric vehicles, using export prohibitions to force companies to produce locally. For example, in the case of nickel, in which the advantage of an almost monopoly, the grant of gross export that came into force in 2020 Investments in castings, ”says the magazine.