VinFast to start selling cars in US and Europe in 2022

Vietnam’s latest electric vehicle model VF e36

Emerging Vietnamese car maker VinFast will offer pre-orders for its electric sports utility vehicles from the US in the first half of 2022 and would deliver them by the end of the year, the company said in a statement released on October 14.

Michael Lohscheller, chief executive officer of the company’s global division, said that the cars would be presented at the Los Angeles Auto Show to be held from November 19 to 28. The cars are the VF e35 and the VF e36 for the D and E market segments, respectively.

The motor show will serve as VinFast’s official introduction to the US market, Lohscheller said.

VinFast is the automobile division of Vietnam’s largest conglomerate Vingroup and was founded in 2017. It has already set up an office in California and expects to open 60 US showrooms in the US next year and move on to the European market.

Competing with Tesla

The company aims to take on competitors such as Tesla and other electric vehicle makers with lower prices and innovative service models such as battery leasing schemes and online sales.

“This is just the beginning. We hope to capture the hearts and imaginations of even the most demanding customers with VinFast’s dedicated service and smart, high-quality products,” Le Thi Thu Thuy, vice chairwoman of Vingroup, said in the statement.

While the cars will be produced in Vietnam at the beginning, VinFast is also considering a manufacturing facility in the US and eventually plans an initial public offering there, according to Lohscheller.

Sales targest for 2022 are 15,000 vehicles, down from the initially envisaged 56,000, a revision mainly owing to the global semiconductor chip shortage and disruptions from the Covid-19 pandemic.

International development partners

VinFast currently has a portfolio of four gasoline-engine models, a sedan and a crossover based on previous generation BMW cars, another BMW-based luxury SUV with a General Motors V8 engine in a limited edition and a remodeled city car version of the Chevrolet Spark.

The electric car range comprises of meanwhile four models, the e32, e33, e34/35 and e36, which are co-developed by Italy’s car design house Pininfarina, owned by India’s conglomerate Mahindra Group, and German-Swiss automotive engineering firm EDAG Group. Partners for auto parts and technology are French automobile firm Faurecia, German engineering companies ZF, Dürr, Bosch, ABB and Thyssenkrupp and Canadian-Austrian car contract manufacturer Magna.



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[caption id="attachment_37698" align="alignleft" width="300"] Vietnam's latest electric vehicle model VF e36[/caption] Emerging Vietnamese car maker VinFast will offer pre-orders for its electric sports utility vehicles from the US in the first half of 2022 and would deliver them by the end of the year, the company said in a statement released on October 14. Michael Lohscheller, chief executive officer of the company’s global division, said that the cars would be presented at the Los Angeles Auto Show to be held from November 19 to 28. The cars are the VF e35 and the VF e36 for the D and E...

Vietnam’s latest electric vehicle model VF e36

Emerging Vietnamese car maker VinFast will offer pre-orders for its electric sports utility vehicles from the US in the first half of 2022 and would deliver them by the end of the year, the company said in a statement released on October 14.

Michael Lohscheller, chief executive officer of the company’s global division, said that the cars would be presented at the Los Angeles Auto Show to be held from November 19 to 28. The cars are the VF e35 and the VF e36 for the D and E market segments, respectively.

The motor show will serve as VinFast’s official introduction to the US market, Lohscheller said.

VinFast is the automobile division of Vietnam’s largest conglomerate Vingroup and was founded in 2017. It has already set up an office in California and expects to open 60 US showrooms in the US next year and move on to the European market.

Competing with Tesla

The company aims to take on competitors such as Tesla and other electric vehicle makers with lower prices and innovative service models such as battery leasing schemes and online sales.

“This is just the beginning. We hope to capture the hearts and imaginations of even the most demanding customers with VinFast’s dedicated service and smart, high-quality products,” Le Thi Thu Thuy, vice chairwoman of Vingroup, said in the statement.

While the cars will be produced in Vietnam at the beginning, VinFast is also considering a manufacturing facility in the US and eventually plans an initial public offering there, according to Lohscheller.

Sales targest for 2022 are 15,000 vehicles, down from the initially envisaged 56,000, a revision mainly owing to the global semiconductor chip shortage and disruptions from the Covid-19 pandemic.

International development partners

VinFast currently has a portfolio of four gasoline-engine models, a sedan and a crossover based on previous generation BMW cars, another BMW-based luxury SUV with a General Motors V8 engine in a limited edition and a remodeled city car version of the Chevrolet Spark.

The electric car range comprises of meanwhile four models, the e32, e33, e34/35 and e36, which are co-developed by Italy’s car design house Pininfarina, owned by India’s conglomerate Mahindra Group, and German-Swiss automotive engineering firm EDAG Group. Partners for auto parts and technology are French automobile firm Faurecia, German engineering companies ZF, Dürr, Bosch, ABB and Thyssenkrupp and Canadian-Austrian car contract manufacturer Magna.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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