Latest news with #Vingroup
CNA
2 days ago
- Automotive
- CNA
EV maker VinFast sets up first dealership in California
VinFast said on Wednesday its first dealership in San Diego, California, is set to begin operations this month, as the Vietnamese electric-vehicle maker doubles down on the dealer model in a bid to boost sales. Backed by Vietnam's largest conglomerate, Vingroup, VinFast has faced challenges including softer demand, stiff competition and the fallout of U.S. tariffs. In addition to the San Diego store, the company said it was seeking and evaluating opportunities for dealerships throughout California. Vingroup had initially planned to focus on America for its foreign sales and followed the direct-to-customer model like Tesla, but slow progress in the U.S., even before growing uncertainty caused by the tariffs, pushed a change in strategy. The carmaker also plans to roll out an e-bus in the U.S., its chair said earlier this month. It is shutting down some showrooms and shifting its focus to Asian markets including Indonesia and India, the company has said. Shares of the company were marginally up.
Fashion Value Chain
3 days ago
- Automotive
- Fashion Value Chain
VinFast Leads Vingroup's Sustainable Growth Strategy in India
Vingroup is redefining how businesses integrate sustainability into their core operations, positioning it as a key differentiator in today's competitive market, especially among aging conglomerates in Southeast Asia. As part of its green mobility strategy, the group is now setting its sights on India, a land full of potential, with VinFast at the forefront, introducing premium electric vehicles to the market. Vingroup is now setting its sights on India with VinFast at the forefront, introducing premium electric vehicles to the market In recent years, the world has witnessed a growing trend: Consumers are willing to spend more on sustainably produced or sourced goods, even as cost-of-living and inflationary concerns weigh on purchasing decisions, according to studies. As technology advances, enabling consumers to connect with and learn more about companies, their expectations have shifted. Sustainability in business operations has emerged as a key factor in purchasing decisions, with consumers demanding more transparency and responsibility from the brands they support. Amid that context, Vingroup has built its name in Vietnam by putting sustainability into action, not just words. Across housing, tourism, and transport, the group takes a hands-on approach to green development. Vinhomes installs energy-saving systems in modern buildings. Vinpearl runs eco-resorts designed to blend into the landscape. VinFast fills a crucial gap in the local EV market, offering accessible, locally made options at a time when charging infrastructure was still limited. These moves are not isolated. They reflect Vingroup's larger strategy of working with local governments and partners to build complete ecosystems rather than offering standalone products or services. After years of refining this model in Vietnam, the group is now taking it overseas. VinFast, the most global part of the business, is leading the way. In India, the company has made a bold entry with a $2 billion investment in an EV plant in Tamil Nadu, which is set to open later this year. With an annual capacity of 150,000 vehicles, the facility is expected to employ thousands and serve as a regional production and export hub. The young car company has already introduced two premium all-electric SUV models, the VF 6 and VF 7, tailored as right-hand drive vehicles for India. These models are scheduled to reach customers ahead of the 2025 festival season, reflecting VinFast's intention to meet local preferences with modern, smart EVs. However, Vingroup, via VinFast, is not entering India to sell cars. It's working to build an entire electric vehicle ecosystem from the ground up, the same way it did in Vietnam. That means the introduction of EVs and the $2 billion EV plant in Tamil Nadu mark only the beginning. Behind the product launch is a broader plan: grow a network of sales and service centers, especially in Tier 2 and Tier 3 cities where EV adoption is picking up speed. Vingroup is also exploring ways to support this growth with reliable infrastructure. A potential partnership with charging solutions provider V-GREEN, which is owned by Vingroup Chairman Pham Nhat Vuong, could support a nationwide charging network tailored to India's needs. The company is thinking long-term. Vingroup wants to be part of India's shift toward cleaner transportation by offering not just vehicles, but a full support system around them. That's the model that worked in Vietnam. Now, the company is applying it in one of the world's fastest-growing EV markets.
Nikkei Asia
7 days ago
- Automotive
- Nikkei Asia
Vingroup's EV taxi service leads Vietnam, expands to Philippines
HANOI -- Green and Smart Mobility (GSM), the electric vehicle taxi brand under Vietnamese conglomerate Vingroup, has risen to the top of the domestic market just two years after launch and has started to expand overseas. GSM began offering the "Green GSM" taxi service in metro Manila on Tuesday with a 2,500-vehicle fleet. The launch appears to have gotten off to a hot start, as the company's app was downloaded over 100,000 times within a few hours, GSM CEO Nguyen Van Thanh said.
Arabian Post
11-06-2025
- Business
- Arabian Post
VinUni sets its sights on world's top 100 universities – Recruiting 500 leading scholars worldwide
VinUni fosters a multicultural, globally oriented learning environment. HANOI, VIETNAM – Media OutReach Newswire – 9 June 2025 – VinUniversity (VinUni) has officially unveiled its second-phase development strategy, with the ambitious vision of becoming one of the world's top 100 universities. At the heart of this initiative is the 'VinUni 500' program, which aims to attract 500 outstanding scholars from around the globe. The strategy is backed by a USD 372 million investment from Vingroup to scale up academic capabilities and cultivate a world-class research ecosystem in Vietnam. VinUni's phase 2 strategy is built on two core pillars: enhancing academic and research infrastructure to international standards and strengthening academic capacity to meet global benchmarks. The University will focus on five strategic research domains: (1) Brain, Artificial Intelligence and Robotics;(2) Health Sciences; (3) Environmental Intelligence; (4) Intelligent Computing and Data Science; and (5) Policy Development and Sustainable Societies. In terms of infrastructure, Vingroup has pledged up to USD 372 million in funding for this new phase. Of this, approximately USD 60 million will be allocated to expanding the campus, including new auditoriums, dormitories, sports facilities, and cutting-edge laboratories. Student enrollment will increase from 1,500 to 5,000, nearly half of whom will be postgraduate students—laying the foundation for VinUni's evolving research-intensive environment. A highlight of this expansion is the establishment of the VinUni Industry, Innovation and Research Complex on campus— an integrated research center that will house advanced technology laboratories, incubation for university-industry partnership, and a 1,000-seat international conference center. The facility is expected to regularly host over 600 scientists. ADVERTISEMENT VinUni's cutting-edge laboratories are purpose-built to enhance both education and scientific research. At this complex, R&D professionals from industry, including subsidiaries of Vingroup —such as VinFast, Vinmec, VinBigData, VinRobotics, and VinMotion—will collaborate with VinUni faculty members and students in co-innovation studios. Together, they will develop high-impact, application-oriented research with strong commercialization potential, fueled by an entrepreneurial mindset. In parallel, VinUni will strengthen international academic partnerships with leading institutions such as Cornell University (USA), the University of Pennsylvania (USA), and Nanyang Technological University (Singapore), as well as with leading Vietnamese universities. These partnerships will facilitate the formation of interdisciplinary RISE (Research, Innovation, Sustainability, and Excellence) research clusters, aimed at creating high-impact scholarly publications and tackling pressing issues at both the local and global levels. To strengthen academic capacity, the institution is launching the 'VinUni 500' program to recruit 500 top-tier scholars and researchers, including: 10 high-caliber academic leaders, 200 talented research-focused faculties, 200 outstanding early-career researchers, and 100 affiliated faculties. To attract these scholars, VinUni will offer globally competitive remuneration and support packages. For instance, all faculty will receive a personal development grant of up to approximately USD 6,000 annually, and outstanding researchers may access seed funding of up to approximately USD 230,000. Besides forging research and teaching excellence, 'VinUni 500' serves as a bridge connecting the Vietnamese academics with international scholars as well as world-class scientists from the VinFuture Prize network—fostering impactful, cross-border research collaborations. Dr. Le Mai Lan, President of The University Council, VinUniversity, shared: 'VinUni is not just a university, but a vision to nurture a new generation of talent for the future. We believe that by building internal strength through talent-driven development, leveraging strong commitment from our founding ecosystem, and joining forces with local and global partners, VinUni will make meaningful contributions to the national development strategy in this era of Vietnam's rise.' Founded with the mission to build a world-class university in Vietnam, VinUni has, in just five years, emerged as a symbol of entrepreneurial spirit, agility, academic excellence, and global connectivity. It is the youngest university worldwide to achieve a QS 5-Star overall rating, affirming its accelerating progress in the global higher education landscape. More information on 'VinUni 500': Hashtag: #VinUniversity The issuer is solely responsible for the content of this announcement.
Business Times
10-06-2025
- Business
- Business Times
US tech giant Qualcomm opens AI R&D centre in Vietnam, its third largest after India, Ireland
[HO CHI MINH CITY] Qualcomm on Tuesday (Jun 10) launched its artificial intelligence (AI) research and development (R&D) centre in Vietnam's capital, Hanoi. This is the US tech giant's third-largest R&D centre in the world, after those in India and Ireland, noted Hou Jilei, vice-president of engineering at Qualcomm Technologies, as he spoke with Vietnam's Deputy Prime Minister Nguyen Chi Dung earlier in April. The company has already been operating an R&D centre in Hanoi since 2020, among a network of its multiple research and development (R&D) operations outside its headquarters in San Diego, California. The new centre aims to capitalise on the South-east Asian country's extensive talent pool to develop generative AI (GenAI) and agentic AI solutions applied to various sectors, including smartphones, personal computers, extended reality technologies, automobiles and Internet of Things. Thieu Phuong Nam, country director for Qualcomm Vietnam, Cambodia and Laos, said that the combination of Vietnamese talents with Qualcomm's global scale and expertise could 'strengthen Vietnam's role in the global innovation value chain'. 'This also serves as a vivid testament to the deepening comprehensive strategic partnership between Vietnam and the US,' said Le Xuan Dinh, Vietnam's deputy minister of science and technology, during his appearance at the event on Tuesday morning. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up In April, Qualcomm finalised its acquisition of MovianAI, a GenAI subsidiary of Vietnam's private conglomerate Vingroup, for an undisclosed amount. Established in 2024, MovianAI is a former division of VinAI – another firm in the Vingroup ecosystem. Following the transaction, Dr Bui Hai Hung, former chief executive at VinAI, has joined Qualcomm to lead the AI research strategy of the local centre and contribute to shaping Qualcomm AI research at the global level. Last December, US chipmaker Nvidia also announced its acquisition of Vingroup's affiliate firm VinBrain as well as its plan to open an R&D centre in Vietnam to bolster AI development, without providing details. These moves align with Vietnam's strategy to attract global giants to establish high-tech facilities and projects in the country. Its Investment Support Fund offers government subsidies covering up to 50 per cent of initial investment costs for the establishment of R&D centres focused on semiconductors and AI in Vietnam. Domestic conglomerates are also fuelling the AI race through the establishment of various new tech hubs. In March, Vietnam's home-grown tech champion, FPT Group, launched its R&D centre at the newly opened Software Park No 2 in the central city of Da Nang, with a focus on AI and semiconductors. The hub gathers 500 technology experts and aims to develop at least 10 new products each year for the software and telecommunications giant. On Jun 1, FPT's archrival, CMC Corporation, also broke ground on the CMC Creative Space in Hanoi – the second location in the chain after the first one in Ho Chi Minh City. The new US$300 million office complex is designed to become an open AI centre, encompassing a data centre, R&D space, training area and startup incubation zone for more than 5,000 technology engineers.
