A lot of the companies that sell cars in the US are household names with decades of history behind them. However, as electrification moves from the fringes to the mainstream, some new players have entered the game relatively recently. Tesla made a big splash with its EVs, and Rivian quickly became well-known for its all-electric pickup truck. But even these two have been around for a while now, and American drivers have had years to get to know who these brands are and what they stand for. The factory in Vietnam is at the heart of VinFast’s logistics transformation, producing vehicles that fuel the company’s strategic shift towards faster, more efficient transport and sustainable supply chains.
In 2023, VinFast went public through a merger with a special purpose acquisition company (SPAC), debuting on NASDAQ with a valuation of $85 billion. Despite being relatively new to the market, this strong valuation reflected investor confidence in its potential as a major EV manufacturer — here are all the details about VinFast’s valuation. To support its global expansion, VinFast is constructing a manufacturing plant in North Carolina, USA, with a planned investment of $4 billion.
VinFast in Canada: 2025 Model Lineup & What to Expect
Reliability and affordablity are qualities you expect from Japanese SUVs. Apparently, he was the one who sealed the deal with many international companies and, effectively, enabled the creation of the all-new car brand. VinFast has partnered with Charge&Go to promote the installation and operation of a network of public charging stations in the UAE. Currently, VinFast offers the VF 8 and plans to introduce VF 7, VF 9, and VF 6 electric SUVs in the UAE. All VinFast EVs come equipped with advanced connectivity, including smart infotainment systems and cloud-based services. Before the VF 8 and VF 9 are out for delivery for consumers globally at the end of 2022.
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Established in 2017 as a subsidiary of Vingroup, Vietnam’s largest conglomerate, VinFast aims to make EVs accessible to everyone. The company’s commitment to quality is evident in its industry-leading 10-year or 200,000 km warranty, providing Canadian consumers with confidence in their investment. VinFast remains committed to building a sustainable future, offering innovative electric vehicles that blend technology, comfort, and accessibility. Whether you’re looking to drive a VinFast EV for the first time doji candle or explore their latest offerings, now is the time to embrace the future of mobility.
Monday, just two weeks metatrader web after its debut on the Nasdaq Global Select Market with a share price of $10 and a valuation of $23 billion following a merger with Black Spade Acquisition Co. in a special purpose acquisition company (SPAC) deal. For those looking to make the switch to electric, VinFast presents a compelling option. Visit their website to select your nearest province, check availability, and explore financing options.
The Quick Story Behind the VinFast Brand
For many, what will matter most is the current starting MSRP of the VinFast VF 8 of $46,000 for the Eco City Edition. VinFast’s price cuts came as Tesla slashed prices, and we would not be surprised to see more adjustments before the 2023 model year is complete. With proper maintenance, they can easily surpass the 300,000-mile mark.
- With the future looming ahead, it is an exciting time for VinFast to expand its global presence in the EV world and venture into new territories in the future.
- Expected to be operational by 2025, this facility will cater to the North American market, producing both vehicles and batteries, further strengthening VinFast’s presence in the region.
- For those looking to make the switch to electric, VinFast presents a compelling option.
The VinFast story started in 2017 with the establishment of VinFast’s state-of-the-art automotive manufacturing complex in Hai Phong, Vietnam. The company will have to work quickly to turn things around before the bad first impression becomes a bad reputation, but it has proven in the past that it can indeed work quickly. Only a year before reviewing the production model of the 2023 VF8, MotorTrend published an article describing the experience of test-driving various prototypes. The issues mentioned in the earlier article (like problems with the braking system and crossed wires that make it difficult to adjust the seat) did get fixed by the time of the VF8’s official debut. If VinFast can keep working quickly, then it might just be able to find a place in the competitive American auto market. The Vingroup Joint Stock Company is a Vietnamese conglomerate with member brands that do everything from developing real estate to providing K-12 education to developing artificial intelligence.
On the plus side, the adaptive cruise control and steering assistance functionality work very well. Overall, VinFast has some work to do to make the 2023 VF 8 drive as well as its competitors. Between price cuts, leasing options, and a heavily-touted pricing model that separated the price of the 2023 VinFast VF 8 from the battery cost, there is much to unpack here. Development of the two new cars based on top of BMW platforms is only the tip of the iceberg.
Interestingly enough, VinFast outsourced the design for the vehicles to several design houses from Italy. After that part of the work was done, VinFast reached out to Vietnamese people, 62,000 responded, and they picked the best among the 20 design sketches. I find this really curious as I don’t really remember BMW selling its tech to outsiders who are ready to produce hundreds of thousands of vehicles per year ever before.
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Problems with the physical components of the VF8 are being addressed for the 2024 model, which reportedly has an improved suspension system and a quieter cabin. This initiative aims to ensure that vehicle downtime is minimised and customer confidence is bolstered. Enter your email address and we’ll send you MarketBeat’s list of ten stocks that will drive in any economic environment.
VinFast’s switch back to ro-ro positions the company to capitalise on more balanced capacity dynamics. This move could reduce overall supply chain complexity while enhancing reliability in vehicle transport – a strategic advantage in an increasingly competitive European market. The initial City Edition models are limited to 999 units, but we’d wait for the arrival of the models with the larger battery for their superior range.
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Head of Vehicle Engineering, Kevin Fisher, reported that VinFast made some extensive modifications to the structure and then improved pedestrian and side-impact protection. With these changes, the cars, apparently, comply with the regulations all around the world and offer exceptional safety standards. Nevertheless, according to information from AutoCar in the U.K., VinFast cars – a sedan and an SUV – are actually based on top of the previous generation BMW 5 Series (F10) and BMW X5 (F15).
Pricing doesn’t change (although the City Editions were introduced with a $3,000 discount), and neither does equipment, but the extra range of almost 60 miles for the base Eco is worth it. As for trims, the VF 8 makes more sense at a lower price, so we’d stick with the base Eco which already has many standard features. Our test drive review was of the VinFast VF 8 equipped with the more powerful motors, but the two trims are largely similar. Although able to get up to speed quickly, the throttle response is one of several aspects that could’ve been better tuned.
VinFast VF 9 – Full-Size 7-Seater SUV
Its shipping strategy, particularly the pivot from cars-in-container (lo-lo) back to roll-on/roll-off (ro-ro) services, is a telling sign of changing dynamics in global automotive logistics. During its initial European foray, VinFast – like many of its competitors – faced global scarcity in ro-ro capacities. The reluctance of ro-ro service providers to call at northern Vietnamese ports forced a temporary shift toward container-based shipping methods. In 2021, VinFast expanded its vehicle profiles by introducing e-scooters and Vietnam’s first e-Bus. While gaining significant growth in Vietnam, the company’s ambition is to become a global force in the ever-growing EV industry and focus on a better future for the world.
- While gaining significant growth in Vietnam, the company’s ambition is to become a global force in the ever-growing EV industry and focus on a better future for the world.
- In response, logistics providers and shipping lines are enhancing vessel loading strategies and route planning to better manage these capacity constraints.
- Between price cuts, leasing options, and a heavily-touted pricing model that separated the price of the 2023 VinFast VF 8 from the battery cost, there is much to unpack here.
- The Sedan is a classic three-box car with a long bonnet and long wheelbase, while the SUV actually reminds me a bit of the new Santa Fe.
- Additionally, Ceva Logistics has secured longterm leases for new dualfuel roro vessels to boost capacity, while Chinese OEMs are deepening the vertical integration of their export logistics by expanding dedicated roro fleets.
Similarly, VinFast’s integrated model – melding localised service ameritrade forex broker networks with agile shipping strategies – illustrates a forward-thinking approach that emphasises both operational resilience and customer satisfaction. VinFast stands behind the quality of its vehicles with an industry-leading 10-year or 200,000 km warranty, providing peace of mind to customers regarding the longevity and reliability of their investment. Additionally, certain advanced driver assistance features and service technology features may be updated over time to enhance functionality.
The strategic decisions VinFast is making are particularly significant when viewed against the backdrop of the ASEAN and European automotive landscapes. In ASEAN – a region characterised by rapid economic development and evolving infrastructure – the emphasis on efficient, customer-focused logistics can serve as a blueprint for growth. After driving the new VinFast VF 8 SUV, we concluded that it isn’t a vehicle we can recommend in its current guise. Overall, it feels like an EV with a rushed development process, as evidenced by the patchy build quality, some software bugs, and a driving experience that needs refining. Its base price and maximum range on a full charge are outclassed by numerous rivals, and these are critical factors for a compact electric crossover. The vehicle’s redeeming qualities include snappy acceleration in Plus guise and standard features that would cost you extra in many rivals, while we also appreciate the spaciousness of the cabin.
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