A lot of the companies that sell cars in the US are household names with decades of history behind them. However, as electrification moves from the fringes to the mainstream, some new players have entered the game relatively recently. Tesla made a big splash with its EVs, and Rivian quickly became well-known for its all-electric pickup truck. But even these two have been around for a while now, and American drivers have had years to get to know who these brands are and what they stand for. The factory in Vietnam is at the heart of VinFast’s logistics transformation, producing vehicles that fuel the company’s strategic shift towards faster, more efficient transport and sustainable supply chains.
VinFast VF 9 – Full-Size 7-Seater SUV
VinFast engineers will have their hands full in order to meet more stringent regulations. After all, VinFast will not use the latest BMW technology, but the tech from outgoing BMW vehicles -the F10 (5 Series) and the F15 (X5). IRVINE, Calif., March 19, 2025 /PRNewswire/ — Americans have always had a soft spot for big cars, but in recent years, that affection has turned into an almost full-blown obsession. A decade ago, SUVs and trucks represented roughly half of all vehicle sales in the U.S.—today, that figure has surged to around 75%1. Just last year, Americans purchased about 9.17 million SUVs, marking a notable 5% rise from the year before.
- This pushed its market cap higher than every automaker globally except Tesla and Toyota.
- But the reviews we’ve read have been perhaps the most brutal we’ve seen for a modern car.
- As with any car manufacturer, VinFast had to create numerous facilities in order to be able to produce cars.
- Head of Vehicle Engineering, Kevin Fisher, reported that VinFast made some extensive modifications to the structure and then improved pedestrian and side-impact protection.
- This operational friction led to increased lead times and a host of logistical challenges and demand.
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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. For those looking to make the switch to electric, VinFast presents a compelling option. Visit their website to select your nearest province, check availability, and explore financing options.
Internal combustion engine vehicles
- With these changes, the cars, apparently, comply with the regulations all around the world and offer exceptional safety standards.
- In the end, Scott Evans of MotorTrend said that he would be “embarrassed to look a customer in the eye when handing over the keys to this vehicle,” while Ezra Dyer of Car and Driver concluded, “If it were hilariously inexpensive, sure.
- This state-of-the-art plant spans a massive 335 hectares and is equipped with advanced robotic technology, with automation levels exceeding 90% in certain production lines.
- Add to this 1 million scooters, and you have yourself a formidable car company with the capacity to meet the demand of a huge market.
- With the VF 8 already launched in the UAE, VinFast is planning to introduce the VF 9 by mid-2025.
- She’s covered Netflix’s hottest documentaries, allegations against Sean “Diddy” Combs, the most popular books of the year and how climate change stands to impact the way we eat.
Established in 2017 as a subsidiary of Vingroup, Vietnam’s largest conglomerate, VinFast aims to make EVs accessible to everyone. The company’s commitment to quality is evident in its industry-leading 10-year or 200,000 km warranty, thomas karlow providing Canadian consumers with confidence in their investment. VinFast remains committed to building a sustainable future, offering innovative electric vehicles that blend technology, comfort, and accessibility. Whether you’re looking to drive a VinFast EV for the first time or explore their latest offerings, now is the time to embrace the future of mobility.
Join today to access Automotive Logistics’ wealth of global news, insights, intelligence and to make important connections across the automotive industry. “Today, we are once again leveraging the proven ro-ro shipping method, which simplifies our supply chain while enhancing the efficiency and reliability of vehicle transport to Europe,” VinFast shares. As Automotive Logistics has noted in its past coverage on emerging aftersales strategies, robust service networks are becoming indispensable for automotive OEMs seeking to differentiate themselves in a saturated market. Instead, VinFast outreached to Magna International and signed the company on a process of development which actually was shrunken down to only 11 months.
What To Know About Vietnamese Automaker VinFast As It Surges In Value To Compete With Tesla And Toyota
Similarly, VinFast’s integrated model – melding localised service networks with agile shipping strategies – illustrates a forward-thinking approach that emphasises both operational resilience and customer satisfaction. VinFast stands behind the quality of its vehicles with an industry-leading 10-year or 200,000 km warranty, providing peace of mind to customers regarding the longevity and reliability of mercados financieros their investment. Additionally, certain advanced driver assistance features and service technology features may be updated over time to enhance functionality.
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 is expanding its lineup with the introduction of the VF 6 and VF 7 compact SUVs, expected to be available soon in Canada. These models aim to cater to urban drivers and those seeking a compact yet versatile electric vehicle.
It’s important to note that some vehicles shown contain pre-production elements and pre-production level vehicles may differ from actual production vehicles. Production vehicles may differ slightly in their final specifications, and availability is subject to delayed availability based on manufacturing timelines. However, VinFast does not appear to be selling many vehicles so far. The company recently revealed that 7,100 of its 11,300 global sales in the first half of 2023 were to Green and Smart Mobility, a Vietnamese taxi firm controlled by Vingroup. In the end, Scott Evans of MotorTrend said that he would be “embarrassed to look a customer in the eye when handing over the keys to this vehicle,” while Ezra Dyer of Car and Driver concluded, “If it were hilariously inexpensive, sure.
Its shipping strategy, particularly the pivot from cars-in-container (lo-lo) back to roll-on/roll-off (ro-ro) services, is a telling sign of changing dynamics in global automotive logistics. During its initial European foray, VinFast – like many of its competitors – faced global scarcity in ro-ro capacities. The reluctance of ro-ro service providers to call at northern Vietnamese ports forced a temporary shift toward container-based shipping methods. In 2021, VinFast expanded its vehicle profiles by introducing e-scooters and Vietnam’s first e-Bus. While gaining significant growth in Vietnam, the company’s ambition is to become a global force in the ever-growing EV industry and focus on a better future for the world.
Problems with the physical components of the VF8 are being addressed for the 2024 model, which reportedly has an improved suspension system and a quieter cabin. This initiative aims to ensure that vehicle downtime is minimised and customer confidence is bolstered. Enter your email address and we’ll send you MarketBeat’s list of ten stocks that will drive in any economic environment.
Nevertheless, the engines for VinFast’s cars will come in two states of tune. This isn’t what you’d call enormous power output, but no one could have actually expected a 3.0-liter, TwinPower, Turbo inside. Although VinFast did buy the licenses for the production of cars based on top of BMW platforms, it still has to develop appropriate features to make the car compliant with the market and regulations of today.
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For many, what will matter most is the current starting MSRP of the VinFast VF 8 of $46,000 for the Eco City Edition. VinFast’s price cuts came as Tesla slashed prices, and we would not be surprised to see more adjustments before the 2023 model year is complete. With proper maintenance, they can easily surpass the 300,000-mile mark.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… The business questrade forex has a 50-day moving average of $3.76 and a 200 day moving average of $3.92. The stock has a market cap of $8.22 billion, a PE ratio of -3.21 and a beta of 0.93.
The company was established with a vision to transform Vietnam into a manufacturing hub for world-class vehicles and compete globally. An early VF8 city edition achieved around 200 miles of range with less sophisticated battery tech. VinFast broke ground on its North Carolina plant to build EVs in America. Per the website, the company has opened up 13 showrooms — all in California. Initial plans called for Tesla-like direct-to-consumer sales, but VinFast is open to working with dealerships.