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Vehicle may show optional accessories that are not included in base vehicle and that are subject to availability. Features of the actual vehicle will vary depending on version and configuration. VinFast’s EVs are equipped with human-centered tech that seamlessly improves the driving experience by focusing on you.
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If the VinFast VF 9 were on the road today, it would be the first mainstream 3-row electric SUV. Depending how things shake out, it might just still be when it arrives around the end of this year or early next year (exact timing is still TBA). Starting in 2024, buyers will have the option to buy the battery with the vehicle, but the company has not yet outlined prices. With 173 showrooms globally, the company is trying to crack markets in Asia, the Middle East, Europe, the United States and Canada. “We expect to finish 2024 on a strong note and meet our 80,000 vehicle delivery target,” VinFast chairwoman Thuy Le said in a statement. Late Tuesday, VinFast said its third-quarter net loss was down 14.8 Forex candlestick patterns percent compared with last year’s July-September period, according to its unaudited financial results.
In recent months, VinFast has been hit by poor reviews about its electric SUV, the VF 8, after letting US reporters test drive the vehicle. One of Vietnam’s biggest automakers has made a big splash on its entry to Wall Street, pushing its market capitalization above that of industry giants such as Volkswagen and Ford. Delivering the latest in technology innovation, the all-electric VF 8 mid-size SUV brings with it the most advanced enhanced driving, safety and entertainment features for your sustainable lifestyle. Every detail has been considered in the engineering of the 3-row seating all-electric VF 9 from premium interior/exterior design to the latest industry technology innovations for a distinctive driving experience. In the US, VinFast is currently only selling its VF8 electric SUV in California through 13 company-owned showrooms. The larger VinFast VF9 is expected to be available later this year, with the smaller VF6 and VF7 SUVs coming some time next year, as the company begins offering its products in more US markets.
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Our test model needed further tuning, especially with initial throttle application, but alpari forex broker review these are relatively easy modulations. VinFast worked with famous Italian design house Pininfarina on the models. If Pininfarina was good enough for Ferrari, it’s certainly good enough for this fledgling automaker.
How have the reviews been for VinFast cars so far?
- Pham Nhat Vuong has an estimated net worth of $55.9 billion, making him the richest person in Vietnam and the 23rd richest in the world.
- From our limited experience, the cars appear well-built and potentially competitive.
- It reported a loss of $1.4 billion for the nine months through last September.
- Reuters reported VinFast sold only 7,400 cars last year—all in Vietnam—but has projected sales between 40,000 and 50,000 cars this year as it expands beyond the country’s borders.
- It will be very interesting to watch this new company from Vietnam as it finds its footing in the US.
But VinFast will only be making electric vehicles for sale in the U.S., and while more and more EVs are showing up or planned every day, it’s still a segment that’s ripe with potential. We need only look at Tesla as Exhibit A. In about a decade it went from startup to being the best-selling luxury automaker in America. Strangely, VinFast plans to release two different battery sizes in both its Plus and Eco variants. I say “strangely” because the separate ranges and prices aren’t well differentiated. For the base Eco Battery Version 1, the company is targeting 260 miles on Europe’s more-lenient WLTP test cycle at a cost of $40,700 (plus a yet-to-be determined destination fee).
Moreover, VinFast says its cars will be sold in all 50 states. Nothing if not ambitious, VinFast plans to have models in US customers’ hands by year’s end. The VF 8’s exterior is contemporary, with standard LED illumination and a V-shaped grille with integrated daytime running lamps that echo the brand’s logo. The nose is the single most expressive and potentially controversial aspect of the exterior, but even if the face isn’t your favorite, the design isn’t so out there as to be a turn-off for most buyers. In profile, the VF 8 looks rather nondescript — its most interesting details are the tapered indentation along the door bottoms and a raked rear window.
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Reuters reported VinFast sold only 7,400 cars last year—all in Vietnam—but has projected sales between 40,000 and 50,000 cars this year as it expands beyond the country’s borders. VinFast’s VF8 electric SUV is the only car currently for sale in the United States, and only at 13 showrooms in California, but the company is planning to start offering its larger SUV later this year and two others next year, CNN reported. By comparison, Tesla delivered 1.3 million cars in 2022 and Toyota sold 10.5 million. In May, VinFast recalled all of the cars it had shipped to the U.S. over a screen failure that saw the display go blank. VinFast engineers say a one-pedal drive model is under development and will likely be released to early vehicles via an over-the-air update. These sorts of experiences are relatively common in early prototype vehicles, but given that VinFast plans to hand over production models to expectant owners in a little over six months, engineers clearly have their work cut out for them.
The brand quickly followed this news by disclosing it has filed for a US IPO. For starters, the 2023 VinFast VF 8 is the right vehicle at the right time. North America’s compact electric crossover SUV segment is rapidly blooming, and this five-seat model is sized and designed to establish a beachhead in the heart of this emerging market. Ditto for Korea’s Hyundai and Kia, both of which admittedly managed the trick significantly more quickly. Despite such dire conditions, if I had to place my chips on a single new automaker to escape the mire, it’s Vietnam’s VinFast.
The gross margin in the third quarter of 2024 was negative 24.0%, compared to the negative 27.0% margin in the same quarter of the previous year. It will be very interesting what etoro is all about to watch this new company from Vietnam as it finds its footing in the US. If VinFast can manage to tick all of these items off its to-do list in anywhere near their promised timeframes, I humbly suggest it considers renaming the company “VinFaster.”
Even before the company has sold a single vehicle in the US, officials have already and battery factory outside of Raleigh, North Carolina. The math is complicated, but for now, you should know that even if gas prices come down substantially, the value equation looks promising (if obscure). The first car on sale is the VF8, a midsize, five-seater crossover.
But, clearly, VinGroup has big plans, presuming it can past some early quality issues. In a recent blog post, the company acknowledged that critics and customers had “identified areas in which we could better adapt to U.S. consumer preferences.” In response, VinFast is making software upgrades which the company did not detail. Enthusiastic investors pushed VinFast stock up 270% on its first trading day, before falling about 19% Wednesday.
Per the website, the company has opened up 13 showrooms — all in California. VinFast says it has shipped 3,000 vehicles to North America. Initial plans called for Tesla-like direct-to-consumer sales, but VinFast is open to working with dealerships. Buyers who drive fewer than about 1,000 miles per month might opt to lease the battery at $35 per month for the VF 8 or $44 for the VF 9, which covers 310 miles of range per month.