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The billionaire from Vietnam challenged Elon Musk

The car company Winfast, which is owned by the richest man in Vietnam, Pham Nat Vyong, is going to challenge the leader in the global electric car market, owned by Elon Musk Tesla, writes Forbes

By March 2022, the Asian automaker will introduce cars in the United States and Europe. According to representatives of Winfast, to prepare for the global launch, the company has already opened branches in the USA, Canada, France, Germany, and the Netherlands.

The full model range will be announced in October, and two models of electric cars Vf 35 and Fe 36 will go on sale in March 2022. Initially, the company was going to sell 56 thousand vehicles in 2022, but due to the global shortage of chips, the management reduced the target to 15 thousand.

Vinfast has an ambitious plan to become one of the world leaders in the production of “smart” electric vehicles and for this purpose hires top managers from the largest representatives of the car market, including Tesla, BMW, Porsche, Toyota, and Nissan. So, the director of development of Vinfast in the USA, Jeremy Snyder, held senior positions at Tesla for more than a decade until 2018.

Currently, Snyder is confident that Winfast has enough technological and production capabilities to compete with the leading automotive brands in the United States.

Earlier it was reported that the carmaker Stellantis, which ranks fourth in the world in the production of cars, will spend 30 billion euros until 2025 on the electrification of cars. The company will build five factories for the production of batteries for electric cars — three in Europe, two in the United States.

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