LEADING THE CHARGE

Everyone we spoke with at VinFast, when asked about the driving force behind the company’s ambitions and quick pace, pointed to the chairman, Pham Nhat Vuong. Pham was born in Vietnam, studied in Moscow, and worked in the food industry in Ukraine, eventually starting a dehydrated-products company that he sold to Nestle. He returned to his homeland, where he opened a chain of resorts and became Vietnam’s first billionaire. Today Pham oversees the Vingroup empire of hotels, apartments, factories, business parks, and medical research.

He says there are similarities between where he started and where he’s going. When he pitched instant noodles in Ukraine, people couldn’t believe that simply pouring boiling water over them would cook them. “It took a year of marketing to convince them,” he says. “Selling a car is more challenging, but the idea is the same. We need to convince them we have a better offering with style, design, technology, and smart services.” His goal is to make VinFast a leader in the EV market. “Maybe not in five years, but in 10? We want to be at the top.”