Vinfast Plans To Launch EVs In The US/Europe Next Year
Vietnam’s first homegrown EV maker have high hopes for the future as it looks to compete in a bustling market overseas.
Last year, Vinfast sold around 30,000 vehicles, which is pretty impressive when you consider the current landscape.
Now they’re looking to open shop in “key markets” with news that the automaker has officially begun operations in France, Germany, the Netherlands, Canada and the US. Moreover, Vinfast is looking to release two new electric car models in March 2022 in the VF e35 and VF e36.
“VinFast has set up representative offices in five international markets and will soon open showrooms in California,” Vingroup said when talking to Reuters.
All vehicles (including the new ones) will continue to be manufactured out of Vietnam for the time being.
Leading electric vehicles brands will make it difficult for Vinfast. Still, to combat this, the company has sought the help of experts from varying firms — this includes Tesla, BMW and Toyota.
Great company to keep when you’re looking to expand overseas. However, Vinfast aren’t no slouch when it comes to selling units. Domestically, the company have sold plenty of SUVs, sedans, not to mention electric scooters and buses.
In February of this year, Vinfast said it had just received permits to test self-driving vehicles out in public in California, with plans to roll out two of its three models with autonomous features from 2022.
According to the firm, the VF e34 electric SUV has around 25,000 pre-orders already and could compete with the likes of Audi and Nissan if it were to find itself on foreign soil.
According to Reuters, the company is yet to make a profit, which is not unusual for companies like Vinfast. To support its growth, the Vingroup company will need more cash, perhaps through a merger with a Special Purpose Acquisition Company (SPAC).
How will Vinfast fare in other countries? Could they compete with established names in the market? We want to hear your take.