This is the MotorTrend ranking – one of the leading and long-standing car magazines in the US with a 75-year history – conducted.
This marks Mr. Vượng’s first appearance in MotorTrend’s Power List, ranking 47th. MotorTrend mentioned VinFast’s ambition to penetrate global markets, notably the US market. The listing of VinFast in the US stock market also attracted attention.
Recently, Mr. Vượng has taken on the role of CEO of VinFast to directly oversee the company’s development process. Currently, VinFast is preparing to build its own production plant and sales system in the US and India, while also planning to expand to other markets such as Indonesia.
According to MotorTrend, VinFast’s vehicles imported to the US have not yet met the quality requirements to satisfy demanding US customers, the VF8 for example. Therefore, VinFast still has a lot to do to convince discerning customers in the US.
One notable point is that Mr. Vượng is rated higher than billionaire Elon Musk, CEO of Tesla. Mr. Musk ranks last on the list, at 50th, down 8 spots from last year.
Tesla still holds the leading position in electric vehicle sales in 2023, but is facing competition from BYD. In the fourth quarter of 2023, BYD exceeded Tesla in electric vehicle sales. Tesla has also reduced prices to be more competitive, but this move is seen as late in the price competition.
In addition, Elon Musk’s management of multiple companies such as SpaceX and X social media can lead to a dispersion of focus on Tesla’s operation.
Another name on the list is Jensen Huang, CEO of Nvidia, a famous chip company with a frenzy in artificial intelligence (AI). MotorTrend rates Mr. Huang as the 6th most influential person in the global automotive industry.
Under the leadership of Jensen Huang, Nvidia is considered one of the most successful companies in the world, with a market capitalization surpassing USD 1,000 billion.
Nvidia produces chips for various automotive technologies, provides hardware, software, and platforms for autonomous vehicles. They are also famous for supplying chips for AI applications. Mr. Huang is currently collaborating with suppliers worldwide to meet the demand for AI chips.
Directly competing with Mr. Musk is the Chairman of BYD, Wang Chuanfu. MotorTrend ranks him in 3rd place. This is also the first time that the Chairman of BYD has made it onto this PowerList.
BYD is one of the leading electric vehicle manufacturers in China and is expanding into various markets worldwide. BYD not only produces electric vehicles but also invests in other areas such as batteries and research and development. “The fact that BYD controls the entire supply chain also helps them become a formidable global competitor”, MotorTrend evaluated.
BYD surpassed Tesla in global vehicle sales in the fourth quarter of 2023 and is showing signs of continued development. Recently, they have also entered the luxury electric vehicle market with the Yangwang U9, priced at USD 233,450, and can compete with premium car brands.
Rebecca Tinucci, Director of Electric Vehicle Charging at Tesla, ranks 2nd on the list. She has achieved several historically significant deals for Tesla in 2023, including sharing charging ports with Ford and GM, expanding public charging capabilities, and embracing Tesla’s NACS charging standard.
Tesla, from 2023-2024, will share charging ports with Ford and GM, thereby expanding public charging capabilities for North American users and many other countries much more easily. This move can also help Tesla’s NACS charging standard become the “standard” globally, thereby expanding the brand’s influence and profitability.
Topping the Power List is Mr. Shawn Fain – President of the United Auto Workers (UAW).
In 2023, the organization conducted a series of strikes, resulting in successful wage/benefit agreements for workers from GM, Stellantis, and Ford – the top 3 US automotive forces.
