Category Archives: Automibiles & Motoring

Automibiles & Motoring

Vingroup Ushers in a New Era for Vietnam’s Manufacturing: The VinFast Case Study

Historically, Vietnam was not often associated with industrial or manufacturing prowess. However, this narrative is being reshaped by giants like Vingroup, whose automotive arm, VinFast, is spearheading the country’s industrial transformation.

For decades, Vietnam’s domestic automotive industry grappled with significant challenges. The market was small, production capabilities remained limited, and there was heavy reliance on foreign manufacturers. Localization rates were consistently low, supply chains lacked integration, and local firms struggled to gain the expertise needed to compete globally. Most vehicles were either imported or assembled domestically under foreign licenses, reflecting a market constrained by both infrastructure and ambition.

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Automibiles & Motoring

Yango Ride introduces Comfort tariff in Abu Dhabi, expanding accessible transport options

Abu Dhabi, 21st November 2024 — Yango Ride, a ride-hailing service part of global tech company Yango Group, has launched a new Comfort tariff in Abu Dhabi, providing residents and tourists with affordable and comfortable travel options throughout the city. Introducing the Comfort tariff is part of Yango Ride’s ongoing commitment to enhancing mobility in the capital, following the launch of the city taxis on the Yango app. This offering expansion reflects the company’s dedication to providing seamless and reliable transportation solutions to meet the growing demands of the Abu Dhabi community.

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Automibiles & Motoring

Bloomberg Intelligence Survey Finds Middle East Buyers Show Limited Interest in BEVs, Favoring ICE Vehicles

  • BI’s auto-buying intentions survey found that only 10% of respondents in Saudi Arabia and the UAE plan to buy a BEV in the next 12 months, compared to 16% in Europe
  • Internal combustion engine (ICE) vehicles dominate preferences (55%), with hybrids accounting for 29%
  • The survey highlights BEV ownership in the Middle East is set to grow despite a continued preference for ICE vehicles, albeit at a slower pace
  • German brands Mercedes and BMW top consumer wish lists, with Tesla in fourth place, while Ferrari and Porsche lead the luxury segment

Dubai, 21 November 2024 – Middle East consumers remain cautious about battery-electric vehicles (BEVs), according to a new Bloomberg Intelligence (BI) survey. Only 10% of respondents in Saudi Arabia and the UAE plan to buy a BEV in the next 12 months, down from 19% in 2023, as concerns over charging infrastructure, battery reliability, and long charging times persist.

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Automibiles & Motoring

The EV Factory Propelling VinFast to the Top

Built in a record-breaking 21 months, VinFast’s state-of-the-art facility in Haiphong has enabled the company to quickly pivot to electric vehicles and challenge established gasoline-powered rivals.

In October 2024, Vietnam celebrated a historic milestone: its homegrown automaker, VinFast, became the best-selling car brand in the country for the first ten months of the year. Remarkably, this achievement came just two years after the company’s bold pivot to becoming a pure electric vehicle (EV) manufacturer. By surpassing foreign gasoline-powered rivals, VinFast not only redefined its trajectory but also propelled Vietnam’s automotive industry into a new era.

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Automibiles & Motoring

VinFast Enters the Middle East, Driven by Vingroup’s ‘Forever Start-up Spirit’

VinFast, inspired by Vingroup’s ethos of “Forever the start-up spirit,” has officially entered the Middle Eastern market. This expansion offers the EV maker a unique opportunity to secure a first-mover advantage and champion sustainable mobility on a global scale.

For Vingroup, the “start-up spirit” is an all-encompassing philosophy. Despite it being Vietnam’s largest private conglomerates, Vingroup’s founder, Pham Nhat Vuong, sees the company as still at the beginning of its journey. With a belief that no company is “too big to fail,” Vuong promotes a start-up mindset: nimble, proactive, and always prepared to tackle new challenges. This outlook propels VinFast forward in the fiercely competitive automotive industry.

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