A 30% discount will be applied for the following five years, and partners will also get access to Vingroup’s logistics infrastructure and deepwater port system, Thai Thi Thanh Hai, vice chairwoman of Vingroup and global vice chairwoman of automaker VinFast, said at a conference on localization and supplier development last Friday.
Vingroup, the largest listed company in Vietnam, and its associated companies, are seeking both domestic and foreign-invested suppliers operating in Vietnam.
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Inside VinFast’s factory in Hai Phong, northern Vietnam. Photo courtesy of VinFast |
Its needs span automobiles, electric motorbikes, steel and robotics, as well as construction, infrastructure, energy and services.
In energy, Vingroup needs wind turbine towers, electrical conductors, substations and related equipment. The group also needs high-tech components and materials. Businesses in its supply chain also have opportunities to supply VinFast factories in India and Indonesia.
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Thai Thi Thanh Hai, vice chairwoman of Vingroup and global vice chairwoman of automaker VinFast, speaks at a conference on Oct. 16, 2026. Photo by Hong Minh |
Weldcom Industry, a VinFast supplier for eight years, illustrates the opportunities to expand operations and enter new markets by joining the supply chains of major industry players.
Ho Thi Nga, deputy general director of Weldcom, said its work has ranged from designing and installing electric motorbike production lines to serving as the main contractor for integrating automobile body production lines in Vietnam, India and Indonesia.
Contracts between the two sides totaled more than US$200 million from 2018 to 2025.
“Technical standards, quality and deadlines are the biggest pressures when working with the Vietnamese automaker,” Nga said.
In return, suppliers such as Weldcom receive help establishing standards and opportunities to expand their factories and markets when they join the supply chain of an industry heavyweight such as Vingroup.
Following its overseas projects with the Vietnamese automaker, Weldcom is now approaching other automakers in India, including Mahindra and Tata, Nga said.
Similarly, Luong Duc Thu, chairman of Automech, said his company had shifted from supplying metalworking machinery to investing in factories producing components and assemblies for VinFast.
It now supplies thousands of component types, primarily body parts, along with electric bus frames and some automotive assemblies.
Automech generated revenue of around VND1.5 trillion (US$58 million) last year and expects that to rise to VND2 trillion this year. Its workforce has grown fivefold since it began working with VinFast and now exceeds 1,000.
“We receive support with workforce training and standardizing production processes and quality, but fulfilling orders requires us to continually invest in machinery and upgrade our systems,” Thu said.
The Automech chairman also outlined plans to open a factory supplying components to the electric vehicle maker in India.
“We have surveyed sites and are considering opening a factory. If Vietnamese businesses do not do it, international parts manufacturers will step in,” Thu said.
Vingroup is expanding its supplier network to meet investment plans across multiple sectors pursued by companies in its ecosystem.
In vehicle manufacturing, for example, VinFast is targeting at least 300,000 automobiles and 1.2–1.5 million electric motorbikes this year. It currently has factories in Hai Phong, Ha Tinh, India and Indonesia.
VinMetal expects to reach an annual steel production capacity of 6 million tons in 2027, rising to 20 million tons by 2030. VinEnergo, meanwhile, is developing wind and solar power combined with battery storage to improve the stability of electricity supply.
VinSpeed is developing two high-speed rail routes: Hanoi–Quang Ninh and Ben Thanh–Can Gio in HCMC. Vuong’s company has signed a rail technology cooperation agreement with Siemens and has also raised the prospect of transferring technology to businesses in its supply chain.
Vingroup and its associated companies are controlled by Vuong, the leading billionaire in Southeast Asia with $33.8 billion in net worth, according to real-time data by Forbes.