Over the past weekend, a major milestone was reached by Vietnamese manufacturer VinFast with the delivery of its first vehicles. 100 newly assembled all-electric SUVs were served to customers in the company’s domestic market.
Deliveries to North America will begin by the end of the year. That's impressive forward progress for a company that only started operations in 2019. With its VF8 and VF9 models, VinFast is of course hoping to conquer the U.S. market and establish itself as a major electric vehicle manufacturer.
Many eyes are peeled on the automaker and its fate going forward, not least because of its unique approach to battery leasing, which reduces the purchase price for consumers.
Regarding the models coming to North America, the company’s global chief executive Le Thi Thu Thuy said that mass production of the VF8 is launching this week, with the first 5,000 models manufactured labeled for Canada and the U.S.
So far, the company has received 65,000 reservations worldwide. It has bigger ambitions, though - by 2026 it wants to deliver 750,000 vehicles a year.
An American plant is currently being built in North Carolina; it should be able to spit out 150,000 models on an annual basis. The company announced $4 billion in financing last July to be able to produce that facility.
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