VinFast, a new carmaker based in Hai Phong, Vietnam, recently hosted a celebration at its production plant to commemorate the arrival of its first batch of VF e34 electric vehicles. The VF e34 is VinFast's inaugural model and the country's first electric car. The launch of manufacturing also marks the beginning of VinFast's entry into the US market with its EVs.
VinFast is VinGroup's vehicle manufacturing company. VinGroup is a Vietnamese corporation focused on real estate, technology, and even healthcare. VinFast was created in 2017 and entered the Vietnamese market with two ICE vehicles with the assistance of Pininfarina.
VinFast has since concentrated on penetrating the electric car industry at a rate commensurate with the latter part of its name. The business is developing many further electric vehicle types, as well as a line of electric scooters.
VinFast has also announced ambitions to reach markets in North America and Europe, with orders for its first two electric vehicles expected to begin in the first half of 2022. This statement was quickly followed by the declaration that the carmaker will establish a US headquarters in Los Angeles, with ambitions to begin manufacturing in the United States in 2024. Along with the possibility of a potential initial public offering, VinFast is rapidly expanding.
Back in Vietnam, VinFast is betting big on locally manufactured electric vehicles by partnering with various battery manufacturers and investing $400 million to make its own LFP cells in-house — one of numerous cost-cutting methods the firm is pursuing.
To that end, their flagship EV, the VF e34, is priced at around $30,350. VinFast recently announced that it has began delivering its first batch of e34 electric vehicles to clients in Vietnam ahead of entering the US market.
The carmaker commemorated the occasion with a reception for first customers at its Vietnam facility. VinFast also shared further news with Vietnamese EV consumers at the occasion.
In Vietnam, the initial batch of VF e34 EVs will be offered with a new battery leasing option. VinFast has cut the minimum monthly mileage requirement from 1,400 km to 500 km as part of the package.
The new monthly membership fee is $30 for up to 500 kilometers per month and $0.05 for each additional kilometer. When the battery's charge capability falls below 70%, VinFast stated that it will entirely replace the battery for free. The first 25,000 VinFast EV customers will receive one year of complimentary battery rental.
VinFast will begin accepting preorders in the United States in early 2022. The business informed us that it plans to make many US announcements at CES in Las Vegas next week, including three new cars. There is surely to be more interesting EV news in the future.
