VinFast is becoming a household name in Vietnam, especially with its electric SUV brands. The VinFast VF8 and VF9 SUV electric cars expect to reach the United States market before 2022 ends.
But do the VinFast electric car price is more competitive in the international market? We can figure out the VinFast electric cars’ prices as they go into a worldwide frenzy. Find out more about this Vietnamese automaker.
What is VinFast Vietnam?
VinFast is the world’s newest automaker. The company is based and originated in Vietnam, a Southeast Asian country with more than 96 million people. The auto manufacturer is a subsidiary of VinGroup, a company established by entrepreneur Pham Nhat Vuong in 1993 in Ukraine.
Vingroup was known as Technocom Corporation, launched in Vietnam as a real estate and tech conglomerate in 2000. Today, Vingroup is the largest conglomerate in Vietnam, zeroing on retail, real estate development, technology, industry, and services. Its services range from healthcare to hospitality (such as hotels).
When was VinFast Established?
In 2017, the firm announced its thrust into car manufacturing. VinFast designed its first car models with the help of Magna Steyr, Pininfarina, and BMW. The auto manufacturer broke ground on an 828-acre facility on Cat Hai Island in Hai Phong City in September 2017.
Hai Phong is an industrial City 120km east of the capital Hanoi. The factory was built in just 21 months and includes an engine shop, paint shop, press shop, and assembly shop. The first stage of the program cost $1.5-billion: to make electric motorbikes and gas-powered cars.
In the fall of 2018, VinFast joined the Paris Motor Show and introduced two fossil fuel-powered cars: the LUX SA2.0 and the LUX A2.0. The firm claimed that it has a collection of talents from different technologies in pursuing a worldwide distribution of its vehicles.
The company also professed that it applies European design technology and engineering in manufacturing vehicles. On the third week of March 2021, VinFast delivers the first batch of LUX cars (155 units), completed vehicles (113 units), and semi-finished cars (42 units); to Europe, Africa, Australia, and Asia. The delivery includes field testing for quality to qualify for the 5-Star ASEAN NCAP rating.
Read more: Find out more about VinFast Vietnam here.
VinFast milestones after its establishment
Over the years, VinFast established its name as one of the most successful businesses in Vietnam. In the first quarter of 2020, VinFast became the fifth best-selling car brand in Vietnam. In December 2021, the company became the first automaker in Vietnam to manufacture electric vehicles (EVs) when it introduced VF e34 EV.
The VF e34 EV (or VF6) is a small compact electric SUV crossover also known as the VF31. This EV has a range of 300km on a single charge: It has a single 110kW electric motor. The VF6 went on sale in the Vietnamese domestic market in November 2021.
According to VinFast, the VF6 has sold over 25,000 units as of 2021. In the second week of January 2021, VinFast introduced the VF8 (or VF e35), a larger version of the VF6. The VF8 is a mid-size 2-row SUV similar to the Ford Edge model. It seats five passengers.
In September 2021, Vinfast introduced another electric vehicle, the VF9 (or VF e36). The VF9 is larger than the VF8. The VF9 is a 3-row SUV that can accommodate seven passengers with a range of 482km on a single charge.
How much is VinFast VF8 & VF9 in the international market?
The VF8, a smaller version of the VF9, is about €36,133 in Europe, mainly in Germany, the Netherlands, and France. It is $39,400 in the U. S. The three-row SUV VF9 is larger than the VF8, starting at €49 280 ($53,700) in Europe.
VinFast announced in early 2022 that they are planning to sell their EVs in the U. S. before the year ends. They plan to sell the VF8 & VF9 variants abroad.
When will VinFast operate in the US?
In March 2022, Vinfast announced its plan of expanding its operation in North Carolina, in the United States, by 2024. The assembly plant in North Carolina will cost $2-billion and has a capacity of 150,000 battery-electric vehicles (BEVs) a year.
The two electric vehicles: will be assembled in North Carolina are the VF8 and VF9 SUV models. The VF8 will have a starting price of $41,000 in the U. S., while the VF9 will start at $56,000.
The VinFast North Carolina plant expects to coincide production with U. S. demand. The company thinks that the American end users are starting to embrace the benefits of BEVs.
Many auto experts in the United States firmly believe that: the VinFast electric car price in the U. S. and Europe is more reasonable than other car brands. When comparing the price of Vinfast EVs with those from Tesla SUVs, the former is 20% cheaper.
VinFast has constructive views on the U. S. market. The company believes strongly that its electric SUVs (VF8 and VF9) will be the future in that North American country.