In 2024, Mr. Pham Nhat Vuong, CEO of VinFast, was included in the list for the first time, alongside other important figures such as the President of the United Automobile Workers (UAW), the Chairman of Hyundai Motor, the Chairman of BYD, the Vice President of General Motors, and the CEO of Volvo, among others.
Notably, the Vietnamese billionaire ranks 47th on the list, higher than Elon Musk, the CEO of the globally renowned Tesla brand (50). The Person of the Year is Mr. Shawn Fain, President of the United Automobile Workers (UAW).
According to MotorTrend, Mr. Pham Nhat Vuong assumed the position of CEO of VinFast at a time when the company was ramping up electric vehicle production, introducing a new concept pickup truck, listing on the US stock exchange, and aggressively expanding into the international market.
2023 was a year marked by significant achievements for the Vietnamese electric vehicle brand. VinFast delivered a total of 34,855 electric cars in the fiscal year 2023, representing a 374% increase compared to the previous year. In the fourth quarter alone, 13,513 cars were delivered, a 35% increase compared to the previous quarter.
VinFast’s total revenue reached VND 10,418 billion (USD 437 million) in the fourth quarter, a 26% increase compared to the previous quarter and a 133% increase compared to the same period in 2022, driven by an increase in sales volume and a diverse product range. For the year as a whole, VinFast’s total revenue reached VND 28,596 billion (USD 1,198 million), marking a 91% increase compared to the previous year.
In terms of product launches, VinFast introduced four new SUV models in various segments in Vietnam, including the flagship models VF 9, VF 5, VF 6, and VF 7.
To date, the company has 13 stores in California and 6 dealerships in 5 states, including North Carolina, New York, Texas, Florida, and Kansas, with 75 dealerships registered in the network. The company plans to reach approximately 130 sales points in North America and 400 sales points worldwide by the end of 2024.
After establishing a presence in markets such as the United States, Canada, and some European countries, VinFast’s global expansion plans for 2024 will focus on other global markets, including potential markets in Southeast Asia near Vietnam such as Indonesia, India, and the Philippines.
