VinFast aims to compete with other EV manufacturers, including Tesla, Rivian, Ford, Chevrolet, Hyundai, Kia, and Nissan. It also faces competition from traditional automakers that are expanding their electric vehicle offerings. VinFast’s branding strategy emphasizes its commitment to sustainable mobility across various vehicle types, with electric cars being the flagship offering. The company targets both consumer and commercial markets, focusing on affordability, quality, and sustainability.
VF 5
Inside the VF8, the interior was drab, with a Tesla-like center screen and no instrument panel in front of the driver — although a heads-up display (HUD) was used to project information onto the windshield. The front seats looked good and had many controls, but lacked support and comfort. Many functions are controlled through numerous menus and submenus in the large center touchscreen, requiring the driver to look away from the road to operate them.
The VF8 made a terrible first impression on the professional reviewers that it needed to impress to make headway with American drivers. Both MotorTrend and Car and Driver had major issues with the model and were not shy about sharing them. These reviews describe a vehicle that should still be in the prototype stage rather than one that was already being delivered to customers at the time. We were even invited to experience the cars in Vietnam for a drive experience and came back impressed with the build quality, driving performance and technology on offer. VinFast’s decision to build a factory in North Carolina demonstrates a commitment to the US market and could potentially create jobs and boost the local economy. However, the factory’s construction timeline and production capacity remain to be seen.
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They are the face of Vietnam’s global ambition, backed by one of Asia’s biggest conglomerates. They are bringing world-class EVs like the VF6 and VF7 to Indian customers. And most importantly, they are committing long-term to factories, jobs, and real investment in India’s future. VinFast made its first big impression in India at the 2025 Bharat Mobility Show, where the VF6 and VF7 were showcased. Crowds were drawn to the futuristic design, the tech-focused interiors, and the promise of a new EV player with serious global credibility. Then, before the launch event, VinFast also displayed the cars at various public spaces in India, like malls and airports, and they got good attention there too.
- The official launch of Lux models at the 2018 Paris Motor Show, awarded “A Star is Born” by AUTOBEST.
- VinFast’s board of directors comprises experienced leaders from Vingroup and the global automotive industry.
- Cash due at signing includes $449 first month’s payment, $695 acquisition fee, $0 down payment and $0 security deposit.
- However, the factory’s construction timeline and production capacity remain to be seen.
That being said, an apparent indicator of VinFast’s belief in its future in the U.S. market was its July 2023 groundbreaking for a new $4 billion auto plant located in North Carolina. This factory is slated to produce 150,000 EVs annually when it is completed in 2025. However, as of April 2024, no further work had been done at the site, calling its ultimate completion into question. While the company noted that fewer than 1,000 units were sold in North America, another report stated that while VinFast had shipped 3,118 cars to the U.S., only 265 had been sold as of December 2023. It could be assumed that VinFast’s sales problem is tied directly to its quality and performance issues.
- A more recent example is Rivian, which sprung up to beat traditional brands such as Ford and Chevy to the punch by introducing its electric truck to market first.
- Founded in 1993 by Pham Nhat Vuong, Vingroup is Vietnam’s largest private conglomerate, with operations spanning real estate (Vinhomes), healthcare (VinMec), education (VinSchool), and technology (VinAI).
- These investments reflect VinFast’s focus on scaling production and expanding globally.
- VinFast is also taking reservations on the VF9, a flagship, three-row, 7-seater crossover that delivers up to 330 miles of range with a starting price of $83,000.
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Cannot be combined with any other coupon, direct/email offer, promotion, or other offer unless specifically permitted by that offer. The purchase option at the lease end, excluding tax, title, and government fees, is $39,742, plus a purchase option fee of $350. Cash due at signing includes $329 first month’s payment, $695 acquisition fee, $0 down payment and $0 security deposit. Through November 30, 2025, lease offer is available on the new 2025 VinFast VF 8 Plus model leased through authorized VinFast dealers (offer subject to change based upon availability).
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A more recent example is Rivian, which sprung up to beat traditional brands such as Ford and Chevy to the punch by introducing its electric truck to market first. If the VinFast VF 9 were on the road today, it would be the first mainstream 3-row stock trading vs investing electric SUV. Depending how things shake out, it might just still be when it arrives around the end of this year or early next year (exact timing is still TBA).
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AUTOBEST is one of the most prestigious automotive jury associations in the world, which awards Best Buy Car Awards in Europe every year. VinFast’s new cars become the best-sellers in all three segments in Vietnam. The official launch of Lux models at the 2018 Paris Motor Show, awarded “A Star is Born” by AUTOBEST. Of course, looking that far ahead assumes VinFast will still be around in the US a few years from now. For now, the only VinFast model you can buy here in the States is the VF8, so let’s take a closer look at what the response has been since its debut. A local ecosystem is getting built with component sourcing, dealership network, parts, service, battery recycling, etc.
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Instead it is following what other EV startups such as Tesla and Rivian are doing by selling directly to customers. Moreover, VinFast says its cars will be sold in all 50 states. Starting in 2024, buyers will have the option to buy the battery with the vehicle, but the company has not yet outlined prices.
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The battery pack comes with a 10-year/unlimited mileage warranty. Current pricing for the VF8 is $46,000 for the Eco trim, and $51,800 for the Plus. It’s a tough game, for sure, and automaking in general is not for the weak or short-funded. For every Tesla or even Lucid, there are multiple brands that have failed or merely teeter on the brink of bringing electrified cars to life, touting grandiose plans but never making them happen.
VinFast began making cars in 2017, with sales commencing in 2019. At that time, the rate of car ownership in Vietnam was very low at only 23 cars per 1,000 people. The company started out by contracting Italian design house Pininfarina to rebody existing vehicles, such as the BMW 5-Series and X5, as well as the subcompact Chevrolet Spark. Thanks in part to import duties on vehicles from outside Vietnam, VinFast’s first vehicles were local best-sellers.
VinFast chose to become vertically integrated, making the vast majority of parts themselves. In addition to cars and SUVs, VinFast also produces e-scooters, e-buses, battery systems, and vehicle charging stations for Vietnam. However, VinFast’s path to becoming a purveyor of competitive EVs has been a bit bumpy, to say the least. They would stop producing vehicles with internal-combustion engines (ICE) and would instead become a full-line electric vehicle (EV) manufacturer. Unless you are among the earliest adopters of electric vehicle (EV) tech or a serious car fanatic, you’ve probably never even heard of VinFast. Think of it as an alternative to premium compact SUVs, but fully electric.
VinFast could learn from Hyundai’s history in the American marketplace. Hyundai had a similar experience in the late 1980s and early 1990s, when quality problems nearly drove them out of the U.S. market. A dedication to flawless products, backed with a superior 10-year/100,000-mile powertrain warranty, put Hyundai back to the top. If VinFast is able to fix the VF8’s problems and re-introduce the vehicle, they might be able to resume their upward trajectory. The company’s slate of upcoming EVs seems to be well thought-out and right for the U.S. market, but only time will tell how the VinFast story plays out.