VinFast’s dispatch of electronic vehicles to the United States also showcases the introduction of Vietnamese-branded electronic cars’ official entry into the global market
VinFast, the Vietnamese company on Friday announced the export of its first batch of 999 VF 8’s to the United States and marked its entry into the international markets. VinFast’s dispatch of electronic vehicles to the United States also showcases the introduction of Vietnamese-branded electronic cars’ official entry into the global market.
The company also capped a five-year bid to construct an auto production hub in the Southeast Asian country for the markets in Europe and North America. Customers could expect the cars by the end of December 2022 according to the official statement of the company. Vice Chairman and CEO of Vingroup, Mr. Nguyen Viet Quang stated that the export of the first 999 VF 8 is a remarkable achievement by the group and a milestone for the Vietnamese automotive industry. “It affirms that Vietnam has successfully produced high-quality standards electric vehicles that are ready to compete in the international market.
We hope that, when VinFast’s smart electric vehicles roll out on the streets around the world, it will help promote the image of a new, dynamic and progressive Vietnam to the global audience,” stated Nguyen Viet Quang. VinFast Chief Executive Le Thi Thu Thuy stated that some of the VF 8 electric SUVs being shipped on Friday would be sent to U.S. car subscription service autonomy.
However, the majority would go to retail buyers who have ordered the car. Thuy said VinFast expected to be able to ship the second batch of cars in the month of January to the United States. The company is also pacing up its plans for the construction of an electric vehicle plant in North Carolina from the month of July 2024.
The electric vehicles manufactured in Carolina would be eligible for the enticements under the terms and conditions of the Inflation Reduction Act signed by US president Joe Biden. The act requires electronic vehicle manufacturers to have 50% of critical minerals in EV batteries come from North America or the US allies by 2024 and this will increase to 80% by the year 2026.
Many automakers have said that the targets were unworkable and VinFast’s take on the matter is unclear. The current line of electronic vehicles by the company, VF 8 and VF 9, is the firm’s premium electric SUV models with integrated advanced smart technologies and a luxurious design. Thuy state that as the company begins the production of EVs, the customers will be eligible for the tax incentive, reports Reuters.
VinFast currently has around 65,000 global orders for the VF8 and VF9 and following the present export, the company will export more models to Europe and Canada for customer deliveries by early 2023. Autonomy had ordered more than 2000 electric vehicles making it the company’s largest corporate order and expects to sell 700,000 EVs by 2026 in a year. Shares in Vingroup VinFast’s listed parent company, which also has property and resort development businesses, were up 5.41% on Friday.
Established in 2017, VinFast owns an advanced automotive manufacturing complex with internationally leading scalability that features up to 90% automation in Hai Phong, Vietnam. VinFast – a member of Vingroup – foresaw driving the movement of the global smart electric vehicle innovation. The company is dedicated to the mission for a sustainable future for everyone, and constantly innovates to advanced smart services, and seamless customer experiences, bringing high-quality products, and pricing strategies for all to inspire global customers to jointly create a future of smart mobility and a sustainable planet