VinFast's ecosystem strategy reveals that the key to winning the electric vehicle race lies not only in the car itself.

Transformation of the Industrial Competition Landscape

The global electric vehicle market continued to grow in 2025. According to data from the International Energy Agency, global EV sales exceeded 20 million units last year, accounting for 25% of new car sales, a year-on-year increase of 20%, marking the fifth consecutive year of an annual increase of approximately 3.5 million units. However, as the market transitions from early adopters to mainstream consumers, relying solely on vehicle performance is no longer sufficient to guarantee success. Mainstream consumers still have concerns about charging convenience, after-sales service, financial solutions, and long-term reliability.

Competition in the electric mobility industry is shifting from the vehicles themselves to the ecosystem that supports their use. Charging network density, quality of after-sales service, attractiveness of financial products, and the prevalence of mobility services collectively create a "network effect"—improvements in each link reduce friction in others, ultimately enhancing the overall user experience.

VinFast's Ecosystem Architecture

Vietnamese electric vehicle manufacturer VinFast is putting this concept into practice. Leveraging its parent company Vingroup and companies affiliated with its founder, VinFast has gradually built a multi-dimensional electric mobility ecosystem covering charging, mobility, services, and more:

• Charging infrastructure: Built by V-Green, a company under founder Pham Nhat Vuong, with plans to deploy approximately 150,000 charging ports across Vietnam. In urban areas, the average distance between charging stations is about 3.5 km, while on 106 national highways and expressways it is about 65 km.
• Mobility services: Green SM (Green SM), also under Pham Nhat Vuong, operates an electric taxi fleet, allowing consumers to experience VinFast models before purchasing. Additionally, it deploys electric buses for public transportation, accelerating the daily adoption of electric mobility.
• Technology reserve: Vingroup's subsidiaries VinRobotics and VinDynamics are focusing on robotics and automation technologies to enhance long-term production efficiency and competitiveness.

This ecosystem is not a simple accumulation of businesses; it systematically addresses the pain points that have historically hindered EV adoption at different stages. With nearly 197,000 electric vehicles delivered globally in 2025—double the previous year—and remaining Vietnam's best-selling car brand for 20 consecutive months, VinFast has confirmed the effectiveness of its ecosystem strategy.

Implications for Emerging Markets

The adoption of electric vehicles in emerging markets is still in its early stages, making the importance of ecosystems even more pronounced. In 2025, India sold 165,000 four-wheeled EVs, a year-on-year increase of 75%, with a penetration rate of about 4%. Although the percentage is still low, the growth momentum is strong—in May, the EV penetration rate in India's overall automotive market exceeded 11% for the first time, and 16 new electric models are expected to be launched in the next nine months.Almost all mainstream Indian automakers have announced electrification plans, but long-term success cannot rely solely on product specifications. The charging network, financial services, after-sales system, local supply chain, and manufacturing base need to be built simultaneously. VinFast's layout in India is a reflection of this approach: in addition to a factory in Tamil Nadu with an investment of $500 million and an annual capacity of 150,000 vehicles, it plans to build 75 showrooms and more than 230 dedicated service stations, and cooperate with financial institutions and third-party service providers.

A New Perspective on the Global Industrial Chain

VinFast's ecosystem case reflects the evolution of competitive logic in the electric vehicle industry. Traditional automakers are accelerating cooperation with charging operators and software suppliers; pure electric brands are building their own battery factories, charging networks, and software platforms. This trend indicates that the key to future success in the industry lies not only in the vehicle itself, but also in the ability to provide users with a seamless ownership experience.

For battery supply chains, charging infrastructure construction, and smart mobility service providers, this means new growth opportunities. Charging operators will benefit from automakers' continuous investment in network density; battery companies need to deepen collaboration with OEMs on recycling and cascade utilization; financial institutions have the opportunity to develop customized financial products for new energy vehicles.

Challenges and Risks

Building a complete ecosystem requires huge capital investment and long-term patience. VinFast relies on the financial support of Vingroup, and not all companies have the same conditions. In addition, cross-sector collaboration may bring management complexity, and balancing the interests of various business units is also a challenge. In emerging markets, policy changes and slower-than-expected infrastructure progress can also affect the release of ecosystem benefits.

Future Outlook

Globally, the electric vehicle industry is moving from "making good cars" to "building a good ecosystem." Whether in developed or emerging markets, companies that can build a full lifecycle service around users are more likely to gain an advantage in the next phase of competition. The density of charging networks, the availability of financial products, the coverage of after-sales services, and the penetration rate of mobility services will become new indicators for measuring industry maturity.

Conclusion

VinFast's case clearly shows that when the penetration rate of the electric vehicle market crosses the initial threshold, the synergistic effect of the ecosystem will become a key engine for accelerating transportation electrification. This shift is reshaping the distribution of value across all links of the industrial chain, driving charging infrastructure, battery supply chains, and smart mobility services into a new cycle of construction. The next chapter of the global transportation electrification process will be written more by these "non-vehicle" factors.