https://thediplomat.com/2022/01/can-vinfast-turn-vietnam-into-an-electric-vehicle-powerhouse/

Here are few excerpts from the article:

“…VinFast sold 31,500 cars and 45,400 electric motorcycles in 2020, which is pretty fast growth for a company that is only a few years old.”

With-in three years of establishing the company, it was selling over 30K cars and 45K bikes. What were our Japani assemblers doing after three years or even a decade after… Complaining how the used car imports were “unfair”.

“According to shareholder data, Vingroup has no state ownership at all. Given the huge role of the state as a direct equity participant in much of the Vietnamese economy, one could argue that Vingroup presents an example of what private capital can do more efficiently than state-owned companies. In this case, it’s been pretty good at leveraging technology to boost innovation and drive fast growth in products that are knowledge and skill-intensive, such as automobiles.”

Local private firms in that nation are working for the betterment of the nation.

Here, our local (foreign) auto assemblers are doing all within their power to keep technology innovation at bay. Any local effort that arises in the industry to localize and make local vehicles is quickly quelled. Hybrids are still a sci-fi technology. EVs and EV localization policies are a joke. No support is given to the local vendors, on the recommendation of the local assemblers (PAMA), to make more technologically advanced parts and to join the international parts vendors. Private auto companies are the same ones who have increased the auto parts import bill beyond tolerance to the point where the auto sector has to be scaled back; and all they do is deflect the blame on to used car imports or what ever the flavor of the day is for the blame game. Scalpers are running rampant and making the cars more expensive with the blessings of the local auto giants.

Vietnam shows us when the leaders and the private sector actually work for the betterment of a nation, how quickly results can be achieved; How quickly even the most advanced technology can be localized and made to benefit a nation.