VinFast considers petrol engines to extend EV range, sources say
The VinFast logo is seen on a car during India's five-day auto show in New Delhi, India, January 18, 2025. REUTERS/Priyanshu Singh
HANOI, Dec 1 : Vietnamese electric carmaker VinFast is considering equipping some of its cars with small internal combustion engines (ICE) to recharge batteries and extend driving ranges, according to three people familiar with the plan and job ads, in a partial shift from its existing all-electric production.
The Nasdaq-listed start-up is trying to boost sales and expand overseas to rein in growing losses that are weighing on parent company Vingroup, Vietnam's largest conglomerate by market capitalisation.
The plan under review involves using petrol-fuelled options to extend range, the three sources told Reuters, requesting anonymity as the information was not public.
One of the sources said a team was tasked in November to explore turning VinFast's VF9 SUVs into range-extended electric vehicles (REEVs) by equipping them with a small petrol engine used solely to recharge the battery. A second source said the company was considering hybrid models. All sources said the plans were preliminary.
VinFast posted at least three LinkedIn job ads in November seeking REEV experts.
Asked about the plans, Vingroup, which handles communications for VinFast, told Reuters it would "not overlook opportunities to research and develop new products that align with customer preferences, needs, and market trends."
VinFast currently produces about a dozen models, mostly compact city cars, and sold about 104,000 units domestically in the first nine months of the year, nearly 95 per cent of its global sales. The VF9, its priciest vehicle, accounts for roughly 1 per cent of sales in Vietnam, and is also shipped to the United States and Canada, but in low numbers.
VinFast, Vietnam's largest carmaker by sales, does not break down foreign market sales. A Vingroup affiliate is fast expanding Vietnam's EV charging network.
PARTIAL SHIFT FROM FULL-EVs
REEVs, like hybrids, use two power sources, an electric motor and an ICE, but unlike hybrids, the ICE does not drive the car in REEVs. It only recharges the battery when needed, extending driving range.
VinFast stopped producing petrol-fuelled cars and shifted to electric vehicles in 2022. That year, it also joined the COP26 declaration on green transition for cars, pledging to sell exclusively zero-emission vehicles in leading markets by 2035 and globally by 2040. REEVs produce emissions, but usually less than plug-in hybrids.
Reuters could not establish whether VinFast plans to develop REEV technology in-house or acquire it.
"There is no change to our overall strategy," Vingroup said, adding official details would come "at the appropriate time".
In 2023, VinFast held nearly 80 patents, far fewer than Tesla's 347 patent families or the thousands held by the major traditional carmakers, according to the World Intellectual Property Organization.
Chinese electric carmakers, including Li Auto and Leapmotor, produce REEVs, while legacy automakers are developing similar options.
Facing severe air pollution, Vietnam plans restrictions on petrol-powered vehicles, starting with a ban on petrol motorbikes central Hanoi from mid-2026.
