Vietnam’s VinFast hands over first electric SUVs, eyes U.S. deliveries

HAIPHONG, Vietnam, Sept 10 (Reuters) – Vietnamese carmaker VinFast on Saturday started handing its first batch of 100 all-electric sport utility autos (SUVs) to native clients, with U.S. deliveries of the automobile as a result of start as quickly as December.

VinFast, which started operations in 2019, is gearing as much as increase within the U.S. market, the place it hopes to compete with legacy automakers and startups with its two all-electric SUVs, the VF8 and VF9, together with battery leasing to cut back the acquisition value.

“The primary batch of 5,000 VF8 models might be for U.S. and North American markets. Mass manufacturing will begin from subsequent week,” VinFast’s world chief government Le Thi Thu Thuy instructed Reuters on the sidelines of a supply ceremony at its plant in Vietnam’s northern province of Haiphong.

VinFast, a part of Vingroup JSC (VIC.HM), will begin transport vehicles abroad in November and clients may have vehicles delivered as quickly as December, Thuy mentioned.

The corporate has registered nearly 65,000 reservations globally, and it expects to promote 750,000 EVs per 12 months by 2026, beginning with the VF8 and VF9 all-electric SUVs.

In March, VinFast mentioned it will construct a manufacturing plant in North Carolina with an preliminary projected capability of 150,000 EVs a 12 months. It tapped banks in July to boost least $4 billion in funding for the undertaking. learn extra

Nguyen Khac Chung was among the many first native clients to have their vehicles delivered at Saturday’s occasion.

“I assumed I needed to wait till November to get my automotive delivered however I used to be shocked that the ready time was reduce brief,” mentioned Chung, who ordered his EV in January, simply two months after the mannequin was launched.

“Battery leasing is a bonus for purchasers,” he added. “Why ought to we purchase battery?”

The VF8 and VF9 autos will begin at $42,200 and $57,500 respectively for U.S. clients, excluding the price to lease the electrical battery. From September, the corporate will even provide clients choices that embody batteries.

Reporting by Phuong Nguyen; enhancing by Richard Pullin

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