E-Car Manufacturer Vinfast Launches in the USA

by | 2. Mar 2023 - 14:40 | Economy

United States in focus of Vietnamese group’s international expansion.

Vietnamese vehicle manufacturer Vinfast on Wednesday delivered its first electric cars to customers outside its home country. A total of 45 of the 999 VF 8 models already exported at the end of November 2022 were handed over in the US state of California.

This was supposed to happen back in December, but the vehicles needed an update, according to Vinfast. In addition to the delay, the battery range, which is lower than originally stated, is also causing disgruntlement on the customer side, writes news agency Reuters. With a base price of 59,000 U.S. dollars, Vinfast is also entering the competitive U.S. market quite ambitiously. For comparison: a Chevrolet Bolt EUV is available in the simplest variant already well below 30,00 US dollars. Since it is manufactured in the USA, the Bolt also qualifies for the government’s purchase incentive for e-cars made in the USA.

Vinfast could enjoy this benefit when the planned plant in North Carolina starts operations, which was originally expected in July 2024, but approval is currently pending, according to Reuters. The company is also looking to gain a foothold in Europe, including by building a factory in Germany (we reported). As the business magazine Capital (paywall) recently reported, the plans are currently on hold because priority is being given to expansion in the U.S., possibly precisely because of the attractive government funding measures.

Photo: © 2023 VinFast. All rights reserved.

Starting Soon: Rawmaterials Newsletter

Subscribe now and stay up to date!

Subscribe Now!
Stay up to date with our brand new newsletter.
By subscribing, you agree that the data you enter will be transmitted to our e-mail tool rapidmail.