VinFast - the 'breakthrough' electric car brand from the perspective of TIME100 Company.

In the TIME100 Company list – the top 100 most influential companies in the world – VinFast is categorized as a “Disruptor” – a group of companies that have made their mark thanks to innovative models – and the Vietnamese automaker is called “An EV splash”.

Making a splash with its rapid growth: On May 30th, Time magazine announced its "TIME100 Company" list – the top 100 most influential companies in the world for 2024. VinFast, an electric vehicle manufacturer, became the first Vietnamese company to be honored on this prestigious list, alongside big names like Google, Microsoft, and Amazon.

VinFast is the first Vietnamese company to be honored in the TIME100 Company list.

Time is a leading global news magazine, headquartered in New York, USA, with a 101-year history. To date, the magazine has a presence on all five continents and a significant global influence. In particular, Time's rankings are considered valuable and prestigious globally, and are recognized just as highly as major accolades in many other fields worldwide. Established in 2021, the "TIME100 Companies" list – Time's top 100 most influential companies in the world – brings together globally impressive names from various sectors such as technology, healthcare , transportation, and energy. Being included in this list by Time magazine is a valuable "title" for any company. To compile this list, Time's editorial team reviews nominations, applications, and surveys contributors and reporters around the world. In addition, the magazine also seeks advice from a team of independent experts/organizations. “TIME100 Companies” are built on a comprehensive set of criteria, from capabilities and impact to innovation, ambition, and success of the selected companies. Writing about VinFast in Time, journalist Charlie Campbell recalled how the Vietnamese automaker had made a global impact with its incredibly fast factory construction in just 21 months. To gain the most objective view of VinFast's development, the author visited the production complex in Hai Phong in 2022 and carefully monitored VinFast over the years. Impressed by the scale of production and VinFast's miraculous development, especially when its VFS stock price surged 700% in just the first two weeks after its listing on the US stock exchange, Time called VinFast an “EV splash”.

VinFast impresses with its rapid development.

A leading American magazine has praised the Vietnamese automaker's battery leasing business model for electric vehicles as unique. According to Time, VinFast aims to increase sales to 100,000 vehicles in 2024, three times its current sales. “Backed by Vietnam’s richest billionaire, Pham Nhat Vuong, VinFast is building factories in North Carolina, Indonesia, and India,” Time wrote, citing Pham Nhat Vuong’s strong commitment to VinFast at the annual general meeting of shareholders in April 2024. The magazine believes that the companies on the list, led by brilliant leaders, can offer new models and inspiration for the future of humanity. “VinFast is creating momentum for businesses around the world,” according to economist Pham Chi Lan, adding that VinFast has made history for Vietnamese businesses. “This event is especially significant given the context of the global market undergoing intense fluctuations and fierce competition in many sectors, particularly the electric vehicle industry,” commented the veteran expert. Sharing this view, Dr. Tran Dinh Thien – former Director of the Vietnam Institute of Economics – also believes this is good news not only for the VinFast brand but also for Vietnam. He stated that the fact that a Vietnamese company is honored in Time's Top 100 most influential companies in the world, from an objective and fair perspective, signifies pride and marks the maturity of VinFast. “Although VinFast is not yet a major global name, the way they confront market challenges and accept the global competition is clearly commendable,” Dr. Tran Dinh Thien shared.

VinFast's products possess many "breakthrough" advantages.

Speaking further about VinFast, especially the fact that the Vietnamese car manufacturer is included in Time's "Breakthrough" list, Dr. Tran Dinh Thien believes that "breakthrough" holds significant meaning for VinFast. "Firstly, a company and corporation from a developing country has broken into the global arena – that is a breakthrough. Secondly, the breakthrough is also linked to VinFast's choice of technology – a very challenging and new field. Thirdly, it's how VinFast conquers leading markets with a high-class product: electric cars. That's a bold and groundbreaking move that not everyone dares to make or accept the challenge," the expert analyzed. Looking more broadly, Dr. Tran Dinh Thien believes that with these choices, VinFast will be a factor in inspiring the world. “What VinFast has achieved will create encouragement and inspire new visions for businesses around the world. Furthermore, the fact that VinFast comes from a developing country like Vietnam will also motivate businesses in other countries to be more daring in today's fiercely competitive world,” he said.

Phuong Cuc - Vietnamnet.vn

Source: https://vietnamnet.vn/vinfast-hang-xe-dien-dot-pha-duoi-goc-nhin-cua-time100-company-2286370.html