BYD Makes its Entry into the Vietnamese Market
- BYD is a new entrant in the Vietnamese market;
- Charging stations and local competitors are two major challenges for BYD;
- How will BYD conquer Vietnamese customers?
On a hot July afternoon, Mr. Nguyen Thanh Hai was waiting for his turn to test drive a BYD car at an event organized by the company in Bac Giang. Mr. Hai considers himself a car enthusiast and is considering buying an electric car, particularly from a Chinese brand that is competing with Vietnam’s own VinFast.
Mr. Hai shared, “Two of my acquaintances just bought VinFast cars about a month ago. I might buy a BYD… but my biggest concern is the lack of charging stations.” Mr. Hai, who is now over 70 years old, expressed his worry.

BYD Dolphin at a test drive event hosted by the company. Image source: BYD Auto Vietnam
In Vietnam, BYD is a new brand that entered the market on July 18, after a long period of research to understand what the world’s leading electric car manufacturer needs to do in a market where VinFast holds a significant market share and owns almost all charging stations.
However, BYD holds nearly half of the market share in Southeast Asia and has conquered customers in large markets such as Thailand and Malaysia with attractive pricing and products. But entering the Vietnamese market is not that simple, according to Abhik Mukherjee, an expert at Couterpoint Research.
Mr. Mukherjee stated, “BYD will face significant challenges when entering Vietnam, mainly due to VinFast’s near-monopoly on the nationwide network of charging stations.”
Additionally, the expert also mentioned the attitude of Vietnamese consumers towards products made in China, which could make it difficult for BYD to have a smooth start in the country.

Inside a BYD showroom in Vietnam. Image source: BYD Auto Vietnam
VinFast currently has about 150,000 charging points across the country, but none of them are open to other car brands. Right before BYD’s market launch, VinFast launched a very attractive campaign: Free charging for a year at all charging stations developed by the company.
Meanwhile, other electric car brands present in Vietnam, including a few Chinese brands like Wuling and Haima, have to rely on a small number of charging stations provided by third parties. According to Vu Ngoc, Business Development Director at a BYD dealership in Bac Giang, there are about 100 such charging stations across Vietnam.
Mr. Ngoc shared, “Many customers really like the cars, but they are worried about charging issues.”

BYD’s home charging station that comes with the car. Image source: BYD Auto Vietnam
He added that customers can use the fast-charging stations installed at dealerships and dozens of other stations across the country. BYD plans to have about 50 dealerships across Vietnam by the end of this year, all equipped with fast-charging stations.
BYD Vietnam’s CEO, Mr. Vo Minh Luc, assured that customers can easily charge their cars at home: “You only need to charge twice a week.”
Currently, BYD is offering free charging stations and installation costs for early customers.
However, in Vietnam’s crowded cities, this may not be enough, as pointed out by Ngo Ky Lam, manager of the otosaigon online community. He also mentioned that “not every house has space for a car.”
Mr. Lam also believes that VinFast has the upper hand when it comes to public charging stations. The company can leverage Vingroup’s network of shopping malls and urban areas across Vietnam to expand its charging infrastructure whenever needed.

BYD Seal at its launch event in Vietnam. Image source: BYD Auto Vietnam
Aside from charging concerns, the world’s number one electric car manufacturer in terms of sales – BYD – also has to compete with VinFast on pricing. Currently, the BYD Dolphin is the most affordable model sold in Vietnam, priced at around VND 659 million. In comparison, VinFast’s cheapest model, the VF 3, costs only half as much.
On car-related forums and even those dedicated to BYD, the company’s pricing strategy in Vietnam has not been well-received. Many online users have pointed out that all three models sold by BYD in Vietnam – the Dolphin, Seal, and Atto 3 – are more expensive than in Thailand.
Specifically, in Thailand, the BYD Dolphin is priced at 570,000 baht (approximately VND 405 million), while in Vietnam, it is listed at VND 659 million.
However, it is worth mentioning that BYD has established a car factory in Thailand, which helps reduce the selling price of its vehicles. BYD is also under investigation in Thailand due to continuous price cuts.

VinFast VF 3 priced at VND 322 million, including the battery.
In Vietnam, BYD’s car prices may not be as competitive initially because the vehicles are imported from China and subject to taxes, according to automotive expert Nguyen Dang Quang. However, BYD’s car prices in Vietnam could be lower: “If imported from Thailand, car prices could be reduced by 30% to 50%.”
The reason is that vehicles within the Southeast Asian region are not subject to taxes.
BYD has not only established a factory in Thailand, the third-largest automotive market in Southeast Asia, but also in Indonesia, the region’s largest automotive market. In 2023, Vietnam was the fifth-largest automotive market in the region, with sales of over 300,000 units, less than half of Thailand’s or Malaysia’s sales.
However, in terms of electric vehicle sales, Vietnam experienced over 400% growth in the first quarter of this year, making it the fastest-growing market in the region, according to Counterpoint Research. Chinese car brands also seem eager to capture a larger market share: Wuling’s cars are now assembled in Vietnam, and Chery has signed a cooperation agreement to build a factory in the country.

BYD’s newly operational car factory in Thailand. Image source: India Times
Globally, BYD is the leading electric car manufacturer, holding almost half of the market share in Southeast Asia, while VinFast accounts for nearly one-fifth. In 2023, VinFast sold 34,885 electric vehicles worldwide, while BYD sold over 3 million units.
Mr. Ngo Ky Lam, manager of otosaigon, stated that VinFast has been “quite successful in leveraging national pride to build a made-in-Vietnam brand.”
On social media, many people have stated that they would only consider buying a BYD car if the in-car map displays the Hoang Sa and Truong Sa archipelagos as belonging to Vietnam.
According to Vinh Nguyen, a car industry expert who designed the test drive route for BYD in Vietnam, “If you follow the online discussions, you will see that those who haven’t test-driven the cars have opposing views. But those who have actually sat behind the wheel and driven the cars have all given positive feedback.”

Customers experiencing BYD cars. Image source: BYD Auto Vietnam
At the BYD dealership in Bac Giang, Mr. Vu Ngoc, the dealership director, shared that the test drive event attracted 118 customers, resulting in eight signed orders. Most of these orders came from Chinese nationals, their spouses, or those who had studied or worked in China.
Mr. Ngoc also stated that BYD would “initially face challenges in building its image in the market. But with good products, they will definitely gain the trust of Vietnamese consumers.” He also mentioned other Chinese brands that have been well-received by Vietnamese customers, such as Oppo and Xiaomi.
For Mr. Nguyen Thanh Hai, who participated in the test drive event at BYD Bac Giang, the brand’s Chinese origin is not an issue: “In the past, during the war, I drove Chinese cars and trucks for many years. They were very good.”
After test-driving two out of the three BYD models, aside from the concern about charging stations, Mr. Hai’s only other concern was the price. He shared his thoughts on the Dolphin model: “The car’s price is higher compared to other models. I will wait and see.”
Largest taxi company in Nghệ An cancels car purchase contract with Toyota to switch to VinFast
Mr. Ho Chuong, CEO of Son Nam International Transport Co., has recently disclosed that he had previously signed contracts to purchase gasoline-powered vehicles from a Japanese car manufacturer. However, he has since diversified his investment portfolio by also venturing into VinFast electric vehicles, in order to embrace long-term and sustainable development.