For one thing, when critics got the chance to drive the company’s first US-bound product, the VF8 electric SUV, the resulting reviews weren’t what any automaker would hope for. The “launch reinforces VinFast’s commitment to establishing a foothold in one of the world’s most competitive automotive markets, Vinfast emphasised in its press release. A special promotion offers the Plus version for qualified lessees at $529 per month, with a $3,500 discount and a $2,000 down payment. The Eco model will follow later this year, the company said.

2025 VinFast VF9 3-Row CUV Hits Dealerships2025 VinFast VF9 3-Row CUV Hits Dealerships

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. Vinfast, a car company based in Vietnam, unveiled a pair of electric SUVs Wednesday that it plans to begin selling in the United Regións next year. VinFast, an electric vehicle maker, enjoyed a red-hot debut in New York on Tuesday after merging with a special purpose acquisition company (SPAC), Black Spade Acquisition Co. VinFast could learn from Hyundai’s history in the American marketplace.

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The sprawling Vietnamese conglomerate, VinGroup, owns what is swap in forex trading the rest. VFS shares are trading marginally higher in the premarket session on Wednesday. Vietnamese BEV maker VinFast introduces its all-new 7-seat VF9 CUV, a would-be competitor to the Kia EV9 and forthcoming Cadillac Vistiq if the automaker can begin generating some real awareness in the U.S. Ford is offering massive incentives on its Mach-E and Lightning EVs to try and move metal before the end of the year. At least EcoBoost buyers won’t feel the pinch of inflated pricing.

It’s too early to judge the VF 8’s fit and finish, as there are some preproduction and ill-fitting parts in evidence (including a power seat controller wired in reverse). 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.

The organization even built a new university from scratch to cultivate homegrown talent. All of this illustrates that not only does this company have the resources to become a global automotive player, it develops businesses at a breakneck clip. At 28 years young, Vingroup is barely out of corporate adolescence. This move illustrates the financial challenges facing a new, untested EV entrant, from a developing country, that is trying to break into a mature market where all of the established players already have a solid foothold. It takes billions of dollars and very good products to compete in the global automotive industry. When you start with a vehicle like the VF8 that is not fully developed, you have a recipe for disaster, as consumers will run from a product if it does not work properly.

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These examples suggest determined automakers can recover from a bad start. Vinfast follows other Asian automakers that have entered the highly competitive US market. Hyundai and Kia, two related South Korean brands, entered the US market in 1986 and 1992, respectively, with cheap compact cars.

1. For one thing, when critics got the chance to drive the company’s first US-bound product, the VF8 electric SUV, the resulting reviews weren’t what any automaker would hope for.
2. VinFast’s VF8 electric SUV is the only car currently for sale in the United Regións, 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.
3. The influential magazine also notes the company’s 10-year, 125,000-mi.
4. Possibly taking a lesson from that, VinFast has not yet done a drive of the VF-9.
5. VinFast promises a full range of connected services, including e-commerce functions and gaming.

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. VinFast is a young company with ambitious goals, but it has faced problems during its initial foray into the U.S. market. Regaining a position of serious consideration by EV shoppers in the U.S. is of supreme importance to this nascent brand. Having lots full of unsellable cars is not the way forward to future success. VinFast was originally going to use a direct-to-consumer sales model, like Tesla. However, unlike Tesla, VinFast’s 15 California company stores How to buy coke and service centers produced poor sales results.

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In July, it broke ground on a new factory in North Carolina, which it hopes to use as a base for US sales. The company says the facility may eventually reach capacity of 150,000 vehicles a year. The VF8 also comes with the standard suite of advanced driver assistance systems (ADAS) similar to most contemporary vehicles.

Originally, the MSRP did not include the battery, which was sold as a subscription service. Once that was dropped, pricing climbed to $83,000 or $91,000 for Plus. My drive is limited to quick acceleration blasts up and down a road between factory buildings, with a U-turn on one end and a keyhole loop return on the other. Signage suggests our tests are to be capped at 80 kph (50 mph), but the engineer sitting in my passenger seat allows me to go far more quickly, touching 100 mph before braking hard into the left-handed keyhole.

Follow Roeloffs for continued coverage of streaming wars, pop culture news and trending topics. Pham Nhat Vuong has an estimated net worth of $55.9 billion, making him the richest person in Vietnam and the 23rd richest berkshire hathaway letters to shareholders in the world. He is the chair of Vingroup, the largest conglomerate in Vietnam, with units in the real estate development, EV, technology and retail sectors. Monday, just two weeks after its debut on the Nasdaq Global Select Market with a share price of $10 and a valuation of $23 billion following a merger with Black Spade Acquisition Co. in a special purpose acquisition company (SPAC) deal. Work with our award-winning creative services studio and advertising agency to bring your brand or product story to life.

Lucid Motors, backed by the the Public Investment Fund of Saudi Arabia, is in the same boat. VinFast is offering a lease price of $529 per month for the first 100 Plus trims delivered stateside. This offer includes a $3,500 discount and a $2,000 down payment. The company has not announced what the leasing price will be after the initial 100 are sold. VinFast is offering the three-row VF 9 EV in two grades, Eco and Plus.