Vinfast introduces new model in the US
Vinfast, the Vietnamese automaker known as “Vietnamese version of Evergrande Automotive” has officially sent the first batch of 999 VF 8 City Edition vehicles to the United States.
The VF 8 City Edition is a limited edition model specifically designed for the US market, featuring all the functions of the previously released City Edition and advanced driver assistance functions.
The battery is available in two versions with capacities of 82 and 87.8 kWh, respectively, and the range is between 400-420 km and 447-471 km.
The first batch of vehicles was delivered in Vietnam in September this year.
VinFast’s first major customer in the US is Autonomy, a fleet operator, who has ordered 400 VinFast electric vehicles.
At the same time, Vinfast has also established showrooms in Europe.
Vinfast Introduction
Vinfast was founded in 2017 by a leadership team composes of former General Motors executives.
Its actual controller is Pham Nhat Vuong, known as the “Vietnamese Xu Jiayin,” who also made his fortune in real estate. At the age of 54, he is the helm of Vietnam’s largest private enterprise, Vingroup. In 2022 Forbes’ global rich list, Pham Nhat Vuong tops Vietnam’s wealthiest with a net worth of $6.2 billion, ranking 411th in the world.
Vinfast’s development has been divided into three stages:
- 2017-2019 – mainly producing fuel-efficient cars with good quality and low prices;
- 2020-2022 – accelerating the transformation towards intelligent and electrification;
- 2022 – entering the global market.Pan RIWang has made a bold statement: “By 2026, VinFast will sell hundreds of thousands of electric cars in the United States.”
On December 6th, VinFast announced that it had submitted its first initial public offering (IPO) application in the United States, planning to land on NASDAQ with a stock code of “VFS”. Previously, Vinfast’s highest valuation was $60 billion.
Final Words
Compared with China’s Evergrande Auto, Vietnam’s VinFast has obviously made much faster progress in production.
I wonder how Mr. Xu will feel about this?
However, we won’t know the true sales volume of VinFast until the first quarter of 2023, when deliveries are scheduled.
Related reading:
Vietnam’s “new force” VinFast to go public on US stock market? Target valuation of $60 billion!
Foxconn plans to acquire VinFast’s electric car production line in Vietnam
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.