EV Automaker VinFast Set To Launch U.S. Growth Plan Next Week in California

VF 8 7 photos
Photo: VinFast
With electric vehicle market share reaching 15% in California over the first quarter of the year, VinFast chose the state to establish its first group of U.S. showrooms.
VinFast announced a July 14th unveiling of a two-row VF-8 crossover (now in development) in dedicated showrooms for the cities of San Diego, San Mateo, Berkeley, San Mateo, Commerce, and Corte Madera. It should be noted that California trails only Oklahoma as the most electric vehicle-friendly state in the U.S. and has over 560,000 EV cars registered.

The automaker transitioned from manufacturing and selling gas-powered vehicles in Vietnam to battery-operated cars and delivered its first electric vehicle late last year; a model smaller than the stateside VF 8 launch vehicle.

VinFast, which is part of the Vietnamese Vingroup conglomerate, is continuing its global expansion to include Europe despite losing four senior executives last month. Additionally, competition from established EV automakers will be significant. However, the company believes that by offering a premium electric vehicle at a mainstream price will help them penetrate the market.

The company has devised a novel approach to selling vehicles that has some industry analysts skeptical. The cost of the vehicle will be separate from that of the battery which will be leased on two different plans at an additional cost.

The company will offer a monthly $35 plan for the VF 8 and a $44 plan for a larger VF 9 model that includes 310 miles of driving and charges 11 cents for the VF 8 and 15 cents for the VF 9 thereafter. For those that log more than 310 miles per month, unlimited mileage plans will cost $110 for the VF 8 and $160 for the VF 9. The battery lease cost will remain the same throughout the life of the vehicle.

According to the VinFast website, prices for the base VF 8 will be $40,700 and $48,000 for the top model, while the VF 9 base model will sell for $55,500 and $61,00 respectively, not including shipping.
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