For comparison, Volkswagen sold 4.4 million vehicles just in the first six months of 2023, more than 321,000 of which were electric. Vinfast’s sales so far don’t put it in the league of offerings from established automakers. But the big money backing the company, from Vingroup, Vietnam’s largest conglomerate, and its founder and chairman, Pham Nhat Vuong, means it has time to try and meet the challenges of building consumer consideration.
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Initial plans called for Tesla-like direct-to-consumer sales, but VinFast is open to working with dealerships. In the US, VinFast is currently only selling its VF8 electric SUV in California through 13 company-owned showrooms. The larger VinFast VF9 is expected to be available later this year, with the smaller VF6 and VF7 SUVs coming some time next year, as the company begins offering its products in more US markets. Other car companies, like South Korean automakers Hyundai and Kia, ultimately succeeded in the US despite starting out with products that were notable for quality issues.
It’s too early to judge the VF 8’s fit and finish, as there are some preproduction and ill-fitting parts in evidence (including a power seat controller wired in reverse). For starters, the 2023 VinFast VF 8 is the right vehicle at the right time. North America’s compact electric crossover SUV segment is rapidly blooming, and this five-seat model is sized and designed to establish a beachhead in the heart of this emerging market.
For now, VinFast is a small part of a much larger company. But, clearly, VinGroup has big plans, presuming it can past some early quality issues. The company claims to account for 1.1% of Vietnam’s gross domestic product. In 2022, VinGroup earned 12.8 trillion Vietnamese dong in profit, equal to about $535.7 million, on about 102 trillion dong, or almost $5.3 billion, in total revenue. Enthusiastic investors pushed VinFast stock up 270% on its first trading day, before falling about 19% Wednesday. Those investors currently own only 1% of the automaker, though.
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In early 2022, VinFast decided on a major change of course. They would stop producing vehicles with internal-combustion engines (ICE) and would instead become a full-line electric vehicle (EV) manufacturer. A new energy of affordability, a competitively priced, all-electric vehicle is here with the Vinfast VF 6.
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VinFast engineers say a one-pedal drive model is under development and will likely be released to early vehicles via an over-the-air update. These sorts of experiences are relatively common in early prototype vehicles, but given that VinFast plans to hand over production models to expectant owners in a little over six months, engineers clearly have their work cut out for them. At 187 inches long, 74.8 inches wide and 65.4 inches tall, the VF 8 is the same length as a Tesla Model Y and only around an inch separates their width and height. Interestingly, chief engineer Huy Chieu tells me that in developing the VF 8’s driving exchange rate online eur to usd performance, the company recently benchmarked Hyundai’s excellent Ioniq 5 EV, a great bogey. The carmaker broke ground on its first American factory in North Carolina last month with plans to begin production at the $4 billion facility in 2025—as of June, only 137 electric vehicles by VinFast were registered on U.S. roads.
Also revealed at CES 2024 was the production model of the cute VinFast VF3, a mini SUV. At just over ten feet long, it is designed to be an entry-level EV. The VF3 comes with a 32kW motor with 43 horsepower and an 18kWh battery. The VinFast VF3 was initially offered in Vietnam at a special promotional price of the local equivalent of $9,248 excluding battery, or $12,390 with battery included. The math is complicated, but for now, you should know that even if gas prices come down substantially, the value equation looks promising (if obscure). The two electric crossovers unveiled at the Los Angeles Auto Show on Wednesday, the VF e35 best penny stock trading apps of 2021 and VF e36, were designed by Italy’s Pininfarina, which has also designed other gasoline-powered cars for VinFast.
- It also supports Apple CarPlay and Android Auto wirelessly.
- While CNET isn’t normally in the habit of test-driving prototypes from startups, there’s ample reason to believe VinFast will buck the trend and find success.
- Enthusiastic investors pushed VinFast stock up 270% on its first trading day, before falling about 19% Wednesday.
- Having lots full of unsellable cars is not the way forward to future success.
What is VinFast? Here’s Everything You Need to Know
The motor has an output of 300 kW, and the battery has a capacity of 123 kWh. The WLTP range for the Eco model is 594 kilometres and 580 kilometres for the Plus model. At the DC charging how to read forex candlestick patterns speed, VinFast specifies a time of 35 minutes to charge the battery from 10 to 70 per cent. Yesterday, the company officially launched its flagship VF 9 all-electric, 7-passenger, 3-row SUV in the U.S., marking a significant step in the company’s expansion into one of the world’s most competitive automotive markets.
Experience the unleashed power of all-electric freedom in the VinFast VF Wild where a new standard of innovative technology will bring you an entirely new driving adventure. Announced prices are subject to change and do not include destination charge or any applicable tax, title, registration, and license fees. Shortly after completing a billion-euro financing round, Vietnamese car manufacturer VinFast has started delivering its flagship model VF 9 to customers in the US and Canada. The first units were handed over at an event in Los Angeles. We thoroughly evaluate each company and product we review and ensure our stories meet our high editorial standards.
Ditto for Korea’s Hyundai and Kia, both of which admittedly managed the trick significantly more quickly. While CNET isn’t normally in the habit of test-driving prototypes from startups, there’s ample reason to believe VinFast will buck the trend and find success. For one thing, this company has the financials to see things through. More to the point, Vingroup also appears to have a slew of helpful related technologies in its portfolio, including divisions focused on AI, cybersecurity and cloud computing.
