Daily News 29 May 2023

Welcome to Vietnam Untold! Today, we are bringing you some of the most exciting news from around Vietnam. 

List today news:

  1. Vietnamese Manufacturer Vinfast: Recall First Batch of EVs Due to Safety Concerns
  2. Vietnamese American Billionaire Chinh Chu: Rumors of divorcing singer Ha Phuong circulating
  3. Self-drive Car Rental App Zoocar has announced its decision to cease operations
  4. Boeing Expands Its Presence in Vietnam: Offers helicopters and disaster response aircraft
  5. Hanoi Becomes Destination for Luxury: Luxury hotels and high-end fashion brands

We start with a breaking News that VinFast to Recall First Batch of EVs Shipped to the US Due to Safety Concerns 

News #1 Vietnamese Manufacturer Vinfast: Recall First Batch of EVs Due to Safety Concerns

Vietnamese electric vehicle (EV) manufacturer VinFast has encountered a setback as it announced a complete recall of its initial shipment of vehicles to the United States last year. This decision comes in response to a safety warning issued by U.S. authorities, specifically the National Highway Traffic Safety Administration (NHTSA).

The NHTSA revealed that 999 units of VinFast’s VF 8 vehicles were affected by a software error in the dashboard display, leading to the omission of critical safety information and potentially increasing the risk of crashes. Of these units, more than 700 remain in VinFast’s possession and have not yet been delivered to customers or fleet services.

Earlier in February, VinFast had also recalled 2,781 VF 8 cars sold domestically in Vietnam due to front brake concerns in certain models.

Established in 2017, VinFast started selling EVs in California this year and has shipped a total of 2,097 VF 8 cars in two batches to the United States. Additionally, the company has plans to introduce its first vehicles in the European market by July.

Now let’s turn our attention to another Vietnamese-American billionaire, Chinh Chu. 

News #2 Vietnamese American Billionaire Chinh Chu: Rumors of divorcing singer Ha Phuong circulating

Rumors of 56-years old billionaire Chinh Chu divorcing singer Ha Phuong have been circulating.

The news of the alleged divorce between the singer and billionaire Chinh Chu originated from an article in the Daily Mail, UK. According to the article, Chinh Chu is currently a single father to two daughters, and his ex-wife is singer Ha Phuong. He is said to be dating a Russian supermodel.

Ha Phuong has denied the claims, stating that the information is fabricated and that her family is still happy.

Chinh Chu, born in Vietnam and moved to the US at the age of 8, is the CEO of Blackstone Group, a leading global investment management firm known for its successful deals. According to The Richest, Chinh Chu’s estimated net worth is $1.1 billion.

Ha Phuong married and accompanied Chinh Chu to the US for settlement in 2000. They have two daughters together, aged 12 and 10.

And now, one car rental app has decided to pull out of the Vietnam market following a slow economic downturn 

News #3 Self-drive Car Rental App Zoocar has announced its decision to cease operations

In a surprising development, ZoomCar, an Indian self-drive car rental app that has been operating in Vietnam for nearly 1.5 years, has announced its decision to cease operations.

The company cited challenging market conditions and the complexity of the self-drive car rental service as reasons for this move, expecting the situation to continue in the near future.

According to car owners, weekend rentals were popular for recreational purposes, while real estate employees rented cars to show clients around Ho Chi Minh City, and insurance agents used them to build trust and secure contracts.

However, since the beginning of this year, the sluggish economy has resulted in a lack of customers.

They entered the market by heavily discounting prices for customers and offering lucrative incentives for car owners. Consequently, within the first four months, they were able to acquire around 1,000 cars on their platform.

Established in 2013, ZoomCar operated as an online platform that allowed users to rent cars for short periods.

Other good news for Vietnam as Boeing expands its presence in Vietnam and offers helicopters and disaster response aircraft 

News #4 Boeing Expands Its Presence in Vietnam: Offers helicopters and disaster response aircraft

In a major development, Boeing has officially inaugurated an office in Vietnam, signaling its readiness to provide helicopters and aircraft for disaster response and national defense purposes.

Brendan Nelson, the global chairman of Boeing, expressed the company’s commitment to establishing stronger ties with Vietnam and increasing the number of suppliers in the country.

Nelson confirmed that Boeing has already supplied unmanned ScanEagle aircraft to the Vietnam Coast Guard, highlighting the company’s existing cooperation. He further emphasized Boeing’s willingness to engage in conversations with the Vietnamese government regarding helicopters for humanitarian aid, disaster relief, and military support.

The opening of the new office is expected to facilitate enhanced supply chains with Vietnamese businesses, while also fostering the growth of Vietnam’s aviation industry.

We wrap up our news program today with the coverage on Hanoi as a premier destination for luxury hotels and fashion brands 

News #5 Hanoi Becomes Destination for Luxury: Luxury hotels and high-end fashion brands

In a remarkable development, Hanoi has become a coveted destination for renowned luxury hotels and high-end fashion brands, solidifying its position as one of the top three markets in Southeast Asia.

The capital city is eagerly anticipating the arrival of prestigious hotels such as Four Seasons, Fairmont, Waldorf Astoria, and Ritz Carlton.

Luxury fashion brands, including Dior, Louis Vuitton, Tiffany & Co., and Berluti, have also made their mark in Hanoi in recent times, accentuating the city’s growing allure in the global fashion scene.

According to Statista’s estimates, the luxury retail market in Vietnam is projected to reach a staggering almost 1 billion in 2023.

With the presence of upscale hotels, the influx of extravagant fashion brands is expected as they provide standardized venues for luxury experiences. Hanoi’s concentration of affluent individuals is exemplified by the ownership of prestigious vehicles like Rolls-Royces.

Thank you for watching Vietnam Untold. Stay informed, stay connected. We’ll be back tomorrow with more news.