Image: VinFast VF 9
Vietnamese automaker, VinFast, has recently delivered the first set of its VF 9 crossover vehicles to customers in Vietnam and is gearing up to export the three-row electric vehicle to North America in the coming months.
In April, the company plans to send a second shipment of its two-row VF 8 crossover to the United States and Canada. The upcoming VF 8 Standard Edition is expected to offer greater range than the City Edition models, which were delivered to US customers starting in March with an EPA-rated range of approximately 200 miles (320 kilometers), depending on the specific configuration.
The automaker, which initially produced gasoline-powered vehicles for the local market beginning in 2017, transitioned to manufacturing EVs after discontinuing combustion-engine models last year. VinFast’s first electric vehicle, the e34, was introduced to Vietnamese customers in 2021. The VF 9, priced at $83,000 in the US and C$103,750 in Canada, is considered the flagship model for the emerging EV brand.
VinFast’s CEO Le Thi Thu Thuy said in a press release, “I am confident that VinFast’s high-quality electric vehicles will meet the needs of our customers, bringing a high level of satisfaction to customers around the world,” (via Automotive News).
The company’s success with the VF 8 and VF 9 models is crucial for its plans to establish a factory in North Carolina by 2025, as VinFast vehicles are currently ineligible for the US federal tax credit of up to $7,500, which requires North American assembly.
VinFast plans to open reservations for two smaller models, the VF 6 and VF 7, as it prepares to export the VF 9 to North America in the coming months.
The automaker is considering an initial public offering (IPO) as early as the second quarter of this year after filing with the US Securities and Exchange Commission in December. Despite reporting a loss of $2.1 billion in the 12 months ending December 31, the company continues to expand and invest in its electric vehicle lineup.
It remains to be seen if the VinFast EV story can maintain its momentum as planned. More EV automakers mean more competition, and that’s a great thing for consumers.
