Business Daily Media

Men's Weekly

.

Envisioning a greener Middle East, with VinFast EVs

HANOI, VIETNAM - Media OutReach Newswire - 25 July 2024 - A shift is underway in the Middle East, a region traditionally associated with vast oil reserves and a carbon-intensive economy.

A new narrative of environmental sustainability and economic diversification is emerging, with companies like VinFast playing a key role in driving this change. This is evident in the burgeoning interest in electric vehicles (EVs) across the region, spurred by concerns about air quality, climate change, and the need to reduce reliance on fossil fuels.

VinFast EV manufacturing complex in Hai Phong, Vietnam
VinFast EV manufacturing complex in Hai Phong, Vietnam

Governments across the Middle East are actively incentivizing EV adoption through a combination of measures, such as tax breaks and subsidies for charging infrastructure. For example, the UAE aims to have 50% of its cars electric by 2050, while Saudi Arabia's Vision 2030 blueprint enables the development of a thriving EV ecosystem. These initiatives are not only aimed at curbing emissions but also at positioning the region as a leader in the global transition towards sustainable transportation.

The growing environmental consciousness among consumers in the Middle East is another key driver of EV adoption. As the negative effects of climate change become increasingly apparent, individuals and businesses are seeking ways to reduce their carbon footprint. EVs, with their zero tailpipe emissions and lower overall environmental impact, offer a compelling alternative to traditional gasoline-powered vehicles. Moreover, the rising cost of fuel and the desire to reduce dependence on fossil fuels are further fueling the demand for EVs.

The Middle East's unique characteristics also present significant opportunities for EV adoption. The region's abundant solar energy resources make it an ideal location for solar-powered charging stations, reducing the reliance on the grid and further enhancing the sustainability of EVs. Additionally, the relatively short distances between major cities and the prevalence of urban driving make EVs a practical and convenient choice for many commuters.

Given all these factors, the EV market in the Middle East is expected to witness massive growth in the coming years. By some estimates, it is projected to reach US$7.65 billion by 2028, up from US$2.7 billion in 2023. And according to a report by 6Wresearch, the Middle East electric vehicle market size grew at a CAGR of 28.9% during 2022-2028.

The surge in demand for EVs in the Middle East presents a golden opportunity for both established and emerging EV manufacturers. VinFast, a young Vietnamese automaker and the carmaking arm of Vingroup, the largest private conglomerate in Vietnam, is well-positioned to capitalize on this trend. The company's expansion into the Middle East aligns seamlessly with its mission to accelerate the global transition towards sustainable energy and smart mobility.

After expanding in North America, Europe, and Asia, VinFast is making significant strides in the Middle East's EV market, leveraging its experience in other global markets and commitment to quality. Their diverse product portfolio, innovative battery subscription policy, and comprehensive after-sales services cater to a wide range of consumer preferences.

With a regional headquarters in Dubai and exclusive distribution agreements with major automotive groups, VinFast is establishing a strong presence in the Middle East. The company actively engages with stakeholders to promote sustainable mobility and participates in events like COP28 to demonstrate its commitment to environmental responsibility.

The convergence of environmental concerns, government incentives, and changing consumer preferences are reshaping the Middle East's automotive landscape. VinFast is set to play a pivotal role in this exciting new chapter, accelerating the shift towards a more sustainable and electrified future in the region.


Hashtag: #VinFast

The issuer is solely responsible for the content of this announcement.

News from Asia

ICONSIAM Showcases Thai Creativity to the World with "Lost in DOMLAND" — Reinforcing Its Role as a Must-Visit Global Art Destination

The first-ever full-scale solo exhibition by Udom Taephanich, sets a new milestone for Thai contemporary art on the global stage.BANGKOK, THAILAND - Media OutReach Newswire - 11 July 2025 - ICONSI...

MyRepublic Awarded #1 Best Fixed Network in Asia by Ookla®

SINGAPORE - Media OutReach Newswire - 30 July 2025 - MyRepublic announces that it has been officially recognised by Ookla®, a global leader in connectivity intelligence, as the #1 Best Fixed Netw...

Apical Advances EUDR Readiness Ahead of Full Regulatory Implementation

SINGAPORE - Media OutReach Newswire - 30 July 2025 - Apical has successfully implemented a robust management system to ensure full compliance with the European Union's Deforestation Regulation (EU...

YBUOJ Responds to BaFin Announcement, Reaffirms Compliance Credentials and Global Regulatory Commitment

COLORADO, USA - Media OutReach Newswire - 28 July 2025 - YBUOJ has issued an official response to a recent notice from the Federal Financial Supervisory Authority of Germany (BaFin), which alleged...

Regional Regulatory Misunderstanding, YBUOJ Responds Proactively to BaFin Advisory

COLORADO, USA - Media OutReach Newswire - 29 July 2025 - The Federal Financial Supervisory Authority of Germany (BaFin) recently issued a public advisory stating that crypto exchange YBUOJ was off...

SIBUR Develops New Grade of Polypropylene for Hygiene Products

MOSCOW, RUSSIA - Media OutReach Newswire - 30 July 2025 - SIBUR, Russia's largest polymer producer, has developed a new grade of polypropylene designed for use in hygiene and medical products...

SIBUR Begins Installation of Polypropylene Production Line at Amur GСC

MOSCOW, RUSSIA - Media OutReach Newswire - 30 July 2025 - SIBUR, Russia's largest polymer producer, has started installing a polypropylene production unit at the Amur Gas Chemical Complex (GСC), w...

Shenzhen and Hong Kong Join Hands to Promote the Development of the Hetao Shenzhen-Hong Kong Science & Technology Innovation Co-operation Zone

"Driving the Globalization of Clinical Trials in the Guangdong-Hong Kong-Macao Greater Bay Area, Implementing the First Key Cross-Border Multi-Center Clinical Trial Project"HONG KONG SAR - Media O...

Pacific Century Premium Developments Limited announces interim results for six months ended June 30, 2025

2025 Interim Results - Financial Highlights (Figures for the corresponding period in 2024 are shown in brackets) Consolidated revenue: HK$ 736 million (HK$ 545 million) Consolid...

V-GREEN and GSM Philippines sign strategic partnership with MERALCO to promote EV infrastructure development in the Philippines

MANILA, PHILIPPINES - Media OutReach Newswire - 30 July 2025 - V-Green Global Charging Station Development Corporation (V-Green) and Green and Smart Mobility Joint Stock Company (Green GSM Philipp...

Small-Business Cash-Flow Playbook 2025

An educational guide to managing ATO debt, real-time super and growth finance in Australia’s new landscape Why ATO debt just became the most expe...

Landowners Offered $30,000 Per Year for Just 1 Hectare: The Rise of 5MW Battery Projects Across Australia

In a pivotal shift reshaping Australia’s renewable energy landscape, landowners in Queensland, New South Wales, and Victoria are being offered up ...

Major national security tech alliance launches with Aerologix a founding member

Australia’s leading drone intelligence pioneer bolsters sovereign tech power Australia’s leading aerial data and drone intelligence platform, Aer...

Chris Hancock AM Honoured as 2025 Communications Ambassador

SYDNEY Chris Hancock AM, former CEO of AARNet, has been awarded the prestigious Communications Ambassador title at the 2025 Telecommunications Indus...

Baby boomers are driving development feasibility leading to larger apartments

As residential developers continue to grapple with feasibility issues on apartment projects, the sector is struggling to deliver volumes of new st...

Hays launches FY25/26 Salary Guide: ‘Salary Paradox’ deepens as pay rises fail Australians

Rising dissatisfaction with pay, progression and perks is fuelling a new wave of career change in FY25/26, as Australians demand more from employe...

Sell by LayBy