Pham Nhat Vuong with ambition to sell cars in the United States Pham Nhat Vuong, the richest man in Vietnam, is targeting to rise from a village to the world stage. The multi-billionaire from instant noodles business in Ukraine is looking for opportunities to compete with German and Japanese automobiles in the US market A Bloomberg article about the plan to sell VinFast cars in the US Vietnam’s richest billionaire, who is making many Vietnamese proud of the first “Made-in-Vietnam” car brand, is targeting what many Chinese companies haven’t been able to do: selling cars in the US market. The ambitious plan of Vuong, who launched Vietnam’s first locally produced vehicle in June, is to make VinFast a global brand by expanding sales to global markets, including America. According to international media Bloomberg, VinFastss carmaker Vuong will start selling “Made-in-Vietnam” cars to the US market in 2021. Mr. Vuong is the person who always wants to show his leadership in all fields, and is capable to use the political apparatus of the Communist Party of Vietnam (CPV) to serve for his brand Vinfast. It shows how strong his power is in Vietnam. A customer buying a VinFast Fadil car that has only run a few thousand kilometers and has been spilled in oil Not only merely bringing Vietnamese cars into the US market, Mr. Vuong even aims to sell electric cars- a completely new line for Vinfast. He employed a former deputy CEO of the global manufacturing General Motors Co. as VinFast’s executive In mid-June, Vietnamese automaker Vinfast started handing over their first cars to customers with the expectation that these “Made-in-Vietnam” products will be able to compete with American and Japanese cars in the domestic market. The cars launched by Vinfast in June are Fadil crossovers, small sedans and high-floor SUVs. However, the opening of the sale was not favorable because customers discovered many rudimentary errors such as machine oil flow, lack of spare parts, rusty screws. Mr. Vuong is working for a big game, very costly and labor intensive to hope for selling Made in Vietnam cars in the US, but it is not easy at all. Mr. Pham Nhat Vuong in an interview with Bloomberg “Our ultimate goal is to create an international brand,” the 51-year-old billionaire said in an interview with Bloomberg at the headquarters of Vingroup JSC in Hanoi. “It will be a very difficult journey and we will have to try very hard. But there is only one way ahead.” Vuong’s car will face a fierce competition to succeed in a fastidious market like the US. Carmakers like China’s Guangdong Automobile, India’s Tata Motors Ltd, or Malaysia’s Proton Holdings Bhd have given up or postponed their plans to enter the US market. Even some famous European car brands such as Citroen, Opel, Peugeot and Renault, once in the US market, have struggled to bring their cars again to this market. The first cars of Mr. Vuong were launched with grand ceremonies, heavy colors and political determination of the CPV when they had to mobilize both the national flag and beautiful girls to sell goods. Does it attract buyers or not? Despite a premiere at the Paris Motor Show in the presence of British football star David Beckham in October 2018, Vinfast is still a new car brand in the world. For a fastidious market like the US, many companies have failed for many reasons, such as quality issues, regulatory barriers, poor planning, and unfavorable market conditions and unknown for many Americans. Vingroup, founded and chaired by Mr. Vuong, opened Vinfast automobile factory in Hai Phong in June last year, after only a mere 21 months of construction and completion. Vinfast’s first cars seemed to have been parked somewhere – coming out just a few days later. As a person who has no experience in automobile manufacturing, with Vietnam’s position up to now only focusing on assembling or importing CBU cars for consumption, what can Vuong do for Vietnam’s vehicle industry? CEO of ZoZo Go LLC, Michael Dunne To compensate for the lack of experience and little reputation, Vuong, who is considered by Bloomberg to be the richest billionaire in Vietnam with $ 9.1 billion of access, will be ready to spend $ 2 billion from his pocket money Vinfast to produce the cars that he wants to sell to the US, Europe and Russia. According to Bloomberg, other sources of money will come from loans, issuing shares and selling shares of Vingroup. Mr. Vuong owns 49% of Vinfast and 51% stake of the parent company Vingroup. Vinfast must overcome major barriers to be able to compete outside of Vietnam, ZoZo Go LLC’s chief executive, Michael Dunne, told Bloomberg. To earn a profit in automobile production is not easy, the harsh truth is waiting for Mr. Pham Nhat Vuong. Mr. James DeLuca – General Director of Vinfast “It will take some time for the company to compete in the US which is still the world’s most intense market,” said Dunne, executive director of automotive consulting firm ZoZo Go LLC. “You need to have a solid brand.” Many consumers prefer used cars of Honda or Toyota rather than a new car of an unknown brand, according to CEO of ZoZo Go LLC. Dunne said Vietnam’s car manufacturer, VinFast, will need to produce at least 100,000 cars a year to be able to compete on price, develop a global brand and set up a service network and maintenance. In addition to technical support from major suppliers such as AVL, Bosch, Magna, Siemens and Pininfarina, VinFast hired Mr. James DeLuca, who has “37 years of automotive experience at the US General Motors Corporation as well as managing production operations around the world as general manager. However, American cars still have not been able to overcome German and Japanese cars in terms of competition, but mostly due to fuel consumption. Vinfast has the ambition to produce up to 500,000 cars / year. In addition, the corporation does many things that are not related to each other – it distributes resources and leads to the risk of failure, even bankruptcy of the whole group in a crisis. An article in Vietnam saying: Vsmart Live is accused of being a renamed version of a Chinese phone: what does Vsmart say? Video from users shows that Vsmart Live has the same motherboard design as products from China (Photo cut from video) VinFast said that the company’s goal is to “become the leading automobile manufacturer in Southeast Asia with a design capacity of 500,000 cars / year by 2025, with the main product being an internal combustion engine car, cars use electric motors and environmentally friendly electric motorbikes.” In addition to cars, Vingroup also makes smart phones. “Made in Vietnam” VinSmart phones were launched in December last year. According to international media Reuters, VinGroup will not stop at smartphones, but will turn to launch other smart products. Vinfast must overcome major barriers to be able to compete outside of Vietnam, ZoZo Go LLC’s chief executive, Michael Dunne, told Bloomberg. Perhaps the question many people ask is whether Vinfast can be a brand representing Vietnamese cars? A financial newspaper article about VinFast There is a brand analyst who says that Vinfast cannot represent anything of Vietnam, simply because it is not a Vietnamese car. But it is not a foreign car either. So in the country very few people care about it, especially when it has a price too expensive, over a billion (VND). With that amount of money, very few people will spend to buy a half-west VinFast car. So Vingroup has to use a strategy to force sell cars. John Reed authored a long-running reporter on Vingroup published in the Financial Times in late June this year, describing what is known as senior managers are facing the risk of losing bonuses if too few people in their department buying VinFast cars. In addition, an article describing a leaked internal email that two employees of Vingroup confirmed to the Financial Times showed that all employees will have to switch to the manufacturer’s Vsmart phone. “There are some employees who are afraid of being fired, so they are forced to buy cars,” one employee said, the author wrote. An economic group with a quite large investment capital but spread like VinGroup, a multi-industry business in a market that is not transparent, full of corruption and habit of deception like in Vietnam, you will suffer great defeat if you are not honest. In business, what determines the existence or bankruptcy of an enterprise is that the product is made or rejected by consumers, not because people see the faces of General Secretary Nguyen Phu Trong or Prime Minister Nguyen Xuan Phuc behind the wheel of a newly born VinFast cars.