Vietnam’s VinFast Auto reveals several EVs and plans to setup factory in the US and Germany
VinFast, a Vietnamese automaker, plans to expand its EV lineup to five models and open factories in the United States and Germany, in addition to the one it already has in Vietnam.
Consumer Electronics Show (CES) 2022 featured three brand-new vehicles from the automaker. Three more crossovers have been unveiled, joining the VF8 (previously known as the VF 35) and VF9 (previously known as the ) crossovers, which debuted in November of last year.
For the VF8 and VF9, VinFast has begun taking reservations and expects them to arrive in the United States by the end of 2022. Additionally, the VF8’s base price was set at $41,000, while the VF9’s was set at $56,000. A mandatory battery lease is not included in those prices.
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The VF8 and VF9 will be available with a dual-motor powertrain that produces 402 horsepower and 472 pound-feet of torque, according to the company. It also stated that the VF8 would have a range of 300 miles and the VF9 would have a range of 400 miles.
Also at CES, VinFast announced plans to build electric vehicles and buses in a German factory. However, there was no mention of a start date or any other details in the company’s press release about its search for a location with the German Trade and Invest (GTAI) economic development agency.
Also in the second half of 2024, VinFast plans to open a manufacturing facility in the United States. Both of these new plants will join VinFast’s current Vietnam facility in Hai Phong, as well as a battery manufacturing facility currently under construction in Ha Tinh Province in the same country.
Byton, a Chinese automotive startup, had a similar timetable for launching its first vehicle in North America, Asia, and Europe. Last year, Foxconn showed interest in reviving that automaker, but accumulated debt reportedly put an end to the plan.
Chinese automakers, including the giant BYD, have tried and failed to break into the American light vehicle market. Will VinFast from Vietnam going to be any different?