Most notably, VinFast's battery strategy with super-fast charging technology and 100% solid-state batteries have duly impressed members of the international media.
The Star, Malaysia's leading e-newspaper, revealed that VinFast has partnered with StoreDot, a famous Israeli company, to utilise super-fast charging battery technology that is capable of charging car batteries by 80% in just five minutes.
Elsewhere, French news publication Leblogauto stated that StoreDot's technology proves highly-effective on mobile phones, drones, and electric motorcycles as it makes use of nanoparticles in batteries, thereby allowing much faster charging speeds compared to the current technology.
According to Japanese business newspaper Nikkei, StoreDot is the first company in the world to produce electric scooter batteries which are capable of recharging in only five minutes. The firm is hopeful of bringing this technology to full-size cars in order to eliminate drivers' "range anxiety".
Moving forward, StoreDot's ultimate goal is to have a battery by 2025 that is able to travel for 100 miles, equivalent of 160.9 km, on a mere five-minute charge.
Vingroup has been in talks with Foxconn, the iPhone assembler, in an attempt to transform itself into an EV player. In addition, it has also signed a deal with another Taiwanese company, ProLogium, in order to make solid-state batteries.
It is thought that their deal with China's Gotion could help to reduce its need for cobalt and manganese, particularly as EV demand drives up metal prices, though Vingroup would require resources such as lithium.
"We want a convergence of the world's best technologies, combined with the intelligence of the Vietnamese people, in producing the batteries with better technology [and] lower prices," said Le Thi Thu Thuy, vice chair of Vingroup.
“VinFast plans to open more rechargeable battery factories in Europe and the US to ensure our own adequate supply," she added.
Despite these lofty ambitions, the company has its work cut out for it. Both European and North American customers typically favour Western, Japanese, and Korean cars, which tend to dominate the Vietnamese market.
However, Vingroup said that it senses a "perfect opportunity" as more governments in the West strive to phase out gas-powered vehicles as a means of slashing carbon emissions.
In the meantime, the Vietnamese conglomerate will permit customers to lease batteries, a move which could reduce the upfront price of an EV. Indeed, batteries can account for 30% of EV production costs.
The local firm also told Nikkei Asia that it is targeting annual vehicle sales of between 160,000 to 180,000 a year in the US market.
The company revealed it has operations in Germany, France, the Netherlands, Canada, and California, where it has gained a permit to test self-driving cars.