Back near the end of 2021, COVID-related panic was subsiding and the vibe around new EV startups was still very much optimistic. Almost every other week, a new brand was vying to be the next Tesla, as if that company's sky-high stock price could be anyone's for the taking. VinFast, like other small car brands with larger-than-life plans, wanted a piece of that pie and quickly pivoted its plan from gas-powered BMW-based sedans and SUVs to self-developed EVs meant to take the world by storm.