Hanoi-headquartered electric vehicle (EV) maker VinFast has forayed into markets such as the US, and Canada besides a slew of European countries. In a separate development, Google is said to be acquiring pring to deepen its play in Japan’s digital payment market.
Vietnamese EV maker VinFast opens branches in the US, Europe
Vietnamese carmaker VinFast said it has started its operations in the US, Canada, and Europe, as it gears up to launch electric cars in these markets in March 2022.
VinFast has officially opened business branches in the US, Canada, France, Germany and the Netherlands. While the core teams in overseas markets comprise Vietnamese senior managers, the company has recruited automotive and business experts from international carmakers such as Tesla, BMW, Porsche, Toyota, and Nissan.
“VinFast has designed relevant plans based on each market’s features. In Europe, VinFast will particularly focus on France, Germany and the Netherlands before moving onto other countries,” the company said.
Nguyen Thi Van Anh, who was the firm’s deputy CEO, has moved from Hanoi to the US to act as CEO of VinFast US. Jeremy Snyder, who was with Tesla for more than 10 years, is currently–chief growth officer at VinFast US.
The Vietnamese automaker said it will launch its two electric car models, VF e35 and VF e36, globally in March next year.
“The fact that European and North American governments having announced roadmaps to ban internal combustion engine cars and switch to electric vehicles is a perfect opportunity for VinFast to conquer the global market,” said Thai Thi Thanh Hai, CEO of VinFast Global.
Domestically, VinFast’s first electric car model VF e34 saw more than 25,000 pre-orders after its launch in March this year.
Google said to acquire Japanese e-payment startup pring
US tech giant Google is said to be in talks to acquire Japanese cashless payment and settlement startup pring for a price that could be between 20 billion and 30 billion yen ($180-270 million), Nikkei Asia reported.
The report said Google will buy all shares of the Tokyo-based company from Mizuho Bank and other investors, and will offer fintech services in Japan, such as payments and transfers, next year.
The pring app allows users to make payments, cash transfers, and withdrawals on smartphones and computers.
pring has partnered with 50 Japanese banks and the Seven-Eleven convenience chain, and around 400 corporations in Japan, including Nippon Gas, who use the company to reimburse their employees for expenses and for making payments to small business owners, Nikkei reported.
Meanwhile, Google operates its payment service Google Pay in Japan through partnerships with major credit and prepaid card brands in the country. If the pring acquisition materialises, Google will be able to operate financial services on its own, rather than on behalf of those partners, the Nikkei report added.