How This Vietnamese Carmaker Is Trying To Beat Tesla In The U.S.

The Vietnamese EV brand VinFast is an unknown name from a country with a tiny auto industry. But the company has already opened six stores in California and has plans for many more. It also is building a $2 billion factory in North Carolina and is planning an IPO, though timing is uncertain. It has partnerships with leading industry firms, such as LG Chem, Gotion, Pininfarina, ZF. And it has recruited alumni from some of the world’s top automakers, including Ford, General Motors, Toyota, Hyundai, Porsche, Jaguar-Land Rover, Volkswagen, and others.

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How This Vietnamese Carmaker Is Trying To Beat Tesla In The U.S.

[apolloomd]

As an American. I want to see them succeed. Goodluck Vinfast. Make sure you have worked out all the kinks and have a safe vehicle or you won't last long here.

[peryole]

There’s 0 chance in hell that I’d ever pay over 40k for a car and then have to pay for a battery on a separate bill monthly and for a brand no one has ever heard of. This is doomed to fail in this country. This is not Vietnam, the US is massive and 310 miles is something that would be used up in less than a week, but they want it to be a 1 month allowance. What happens if the car is stolen or totaled in an accident, who pays for the battery?

[nancynails]

I hope Vinfast know that in America they can't get police arrest and put buyers in prison when buyers complain about their product's faults.

[oliviabethofort]

I have to admit Pininfarina did a great job giving Vinfast VFs a unique, elegant and beautiful design. Most of modern vehicle brands are recognized by their small logos, which cannot tell them apart from a distance, especially at night. However, if you look at a Vinfast's front, back or sides, particularly VF9, you know it's Vinfast with letter Vs and the unique V-shaped led lines from a distance or at night.

[MaThienThan]

They honestly do not need to triump Tesla in order to succeed, as the EV market has room for many players. Buidling reliable, safe cars with "slick" design but at a affordable price point should be enough. Well, that and tremendous amount of capital to withstand the competition that is trying to do the same exact thing. US should be the most open-minded market since they already buy imported cars from many other countries. As a Vietnamese myself, I would think that seeing the success of this would be a critical moment for Vietnam manufacturing industry. Truly hope they can succeed.

[larryhandley]

They had me all the way up until I heard the word "subscription" for the battery. Nah.

[ktpeters]

I saw only 2 VinFast on the streets in Vietnam when I was there in July .And a lot of Honda and Toyota on the streets in Vietnam

[thienphongvu]

Important thing is none of VF cars passed safety tests in US

[PutinGayTwin]

Forcing the customer to buy the battery subscription right away, when they just bought the car is a bad bad idea. Who the hell just bought a 50k car and making payment for it plus the battery subscription? Plus, when you buy a brand new car, you will expect that car to works good, not needing any repairs. If the car doesn't needs repair, then why the hell would I need the subscription for?

[relaxingtube]

I think VinFast should listen to American buyers. We do not want to lease the battery. And or give buyers 2 options to choose from, either buy the whole car with battery and or lease battery. If the price is right, buyers will support this new brand. That’s it … life is simple :)

[acefullking]

I wish them the best, but it needs to be much more affordable than other brands to be compatible. If the price isn't compatible, I can't see myself going after an unknown VinFast over other well-established brands.

[damiann]

The car looks great. I really like the idea of leasing battery. Unfortunately not alot of consumers aware how fast a lithium battery degrade. They still think battery will last 10 years if they look after it lol. No! It degrades everytime you drive and charge. If you leave your car outdoor, it will degrade even faster. Lithium battery technology hasn't progressed far and will not be for a long time. Also, when battery gets below a certain capacity, the battery is very volatile meaning it could explode. This is why owning your battery is not a good idea! You rather not pay up front, and always be guaranteed to have a battery working at 100% capacity all the time. Also, alot of people think only market is the end consumers. There are car rental markets where they would want insurance on the battery. Most car insurance do not cover wear and tear. This is why I think VinFast will have an edge over other makers. Having said that, I'd like to see VinFast to provide customisable battery subscription so it will fit with budget at all levels.

[presley]

The biggest mistake you can make when investing is to think that you are smarter than the market. It’s almost impossible to time the consistency, you will miss out on great opportunities if you do this. simply DCA into high conviction stocks and let your position grow.

[AssassinCreep]

I think the battery lease program is not going to go over well in the USA. Because no one wants to pay $450 to 750 for a EV and still have to fork over another$110 a month along with insurance payments.
I think Vinfast cars are beautiful but I think they should have started out with the VF 6 or VF7 they are the 2 best looking vehicles. And should be cheaper than VF8 or 9.
The average American spends about $22K to S28k for gas cars so spending $40k plus for unknown plus paying for battery on top of that each month is a little too much for most Americans. They need the Vf5, vf6 and vf7 to be in the $30k range.
I wish them luck

[richardt]

Someone is going to have to come up with a $20, 000 EV, a gettaround car that doesn't go long range, won't hit 200mph, Just a decent car for the city. A car for students, as a second car in the family, ect. At that price point, I think a lot of people would choose it over a gas vehicle. The savings on gas and repairs would make it the economical choice.

[simbatortie]

You have to rent the batteries for the car. LOL!!!!

[jwt]

I saw one of these today. The build quality is very high. I hope they succeed.

[Kiwikify]

They are going to need to rethink their subscription model. 310 miles a month is not enough for the average American.

[sharadthakur]

I think vinfast is more suitable for Indian EV market rather than costly Tesla

[IHBERWIUHBDSAJ]

This is a huge kick in the face to Vietnam War vets who lost their jobs at American auto companies.