That’s certainly new by American standards, but it’s old enough to make VinFast the first global automotive manufacturer in its home country. VinFast’s international markets include North America, i.e USA & Canada, Europe, the Middle East, India, the Philippines & Indonesia. In its home market, Vietnam, VinFast has become the top car seller, and globally, the brand has crossed one lakh vehicle sales in the first nine months of 2025. The first car on sale is the VF8, a midsize, five-seater crossover. An early VF8 city edition achieved around 200 miles of range with less sophisticated battery tech. As an innovative new electric car company, VinFast prioritizes premium craftsmanship and high-quality parts engineered for safety, reliability, and comfort on every journey.
The VinFast VF3 was initially offered in Vietnam at a special promotional price of the local equivalent of $9,248 excluding battery, or $12,390 with battery included. VinFast began making cars in 2017, with sales commencing in 2019. At that time, the rate of car ownership in Vietnam was very low at only 23 cars per 1,000 people.
In terms of service, support, and warranty, the VinFast VF8 offers over-the-air updates and a 10-year/125,000 mile warranty with 24/7 roadside assistance that covers every part in the car. The battery pack comes with a 10-year/unlimited mileage warranty. Current pricing for the VF8 is $46,000 for the Eco trim, and $51,800 for the Plus. The VF8 also comes with the standard suite of advanced driver assistance systems (ADAS) similar to most contemporary vehicles. The adaptive cruise control worked well, but the lane-keeping assist and blind spot warning did not.
VF 3
Get the latest news on the best cars, best deals, and more. First off, the “Vin” naming is consistent with VinGroup in general, which also has units such as VinSchool (education), VinHomes (yes, houses), VinBus (mass-transit buses), and even VinBrain (focusing on artificial intelligence). Anyhow, the “Fast” in VinFast is actually an acronym, and roughly translated its letters in Vietnamese mean style, safety, creativity, and pioneering. Kelley Blue Book® Values and pricing are based in part on transactions in your area. Your ZIP code also helps us find local deals and highlight other available offers.
The compact VF e34 was created for the Vietnamese market, but the larger VF8 and VF9 were built for a global audience. In 2022, VinFast opened showrooms in North America and Europe, just in time for global deliveries of the VF8 and VF9 in 2023. In January of 2024, it announced that the subcompact VF3 SUV would be coming to the US as well, though the timeline of its arrival on American streets is still unclear. 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.
Early reviews were scathing, raising serious questions about the vehicle’s readiness for the market. Furthermore, the company’s battery leasing program was initially confusing and poorly received. The program has since been canceled and replaced with a more traditional sales model. VinFast’s long-term financial stability is also uncertain, as the company is heavily reliant on its parent conglomerate and has yet to demonstrate profitability.
America
- However, as of April 2024, no further work had been done at the site, calling its ultimate completion into question.
- The company also hinted that it could eventually sell its company stores to dealers.
- The Vingroup Joint Stock Company is a Vietnamese conglomerate with member brands that do everything from developing real estate to providing K-12 education to developing artificial intelligence.
- The company has also gone through several CEOs in the last few years.
- 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.
At the heart of VinFast’s global ambitions is its state-of-the-art manufacturing complex in Hai Phong, Vietnam. This is one of the most advanced automotive facilities in Southeast Asia, with an annual production capacity already in the hundreds of thousands. 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. 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.
Everything You Need To Know About VinFast, America’s Newest Automotive Import
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. This award recognizes VinFast’s unwavering commitment to Day trading signals the highest class of safety ratings for its new range of electric vehicles over the next two years. This includes committing to achieve five stars from the NHTSA (National Highway Traffic Safety Administration) in the USA, 5-star Euro NCAP in Europe.
What is VinFast? All About the New Vietnamese Automaker
On the road, the VinFast VF8 was reported to have unsettled chassis dynamics, causing some testers to get carsick. Throttle response was sluggish in any setting besides Sport, leaving an impression that the car was severely underpowered. While VinFast definitely intends to bring the benefits of EVs to its home country of Vietnam, it also has plans to export them around the world. By May of 2023, VinFast was ready to begin its assault on the U.S.
- The VF6 gets a 7-year/1.6 lakh km cover, and the VF7 is covered for 10 years/2 lakh km.
- Impressions from the VinFast VF8 first drive were a mixed bag.
- For now, the only VinFast model you can buy here in the States is the VF8, so let’s take a closer look at what the response has been since its debut.
- 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.
- VinFast earned two 5-Star NCAP ratings at ASEAN NCAP (New Car Assessment Program for Southeast Asian Countries) delivering on VinFast’s commitment to road safety with the very first models that the ASEAN NCAP have tested.
- It also faces competition from traditional automakers that are expanding their electric vehicle offerings.
VinFast’s entry into the North American market has been anything but smooth. The company’s ambitious plans have been overshadowed by a poorly executed launch, with early vehicles receiving overwhelmingly negative reviews. While VinFast has the potential to become a player in the EV market, it faces significant challenges in terms of product quality, brand reputation, and financial stability. The North Carolina factory is a positive step, but it’s too early to tell if it will be enough to turn the tide.
The company is run by Pham Nhat Vuong, who initially made his fortune in instant noodles, then followed that up with another fortune in real estate. The Vingroup empire spans theme parks, resorts, food and clothing stores, cell phones, apartments, hospitals, schools and universities. It also has divisions specializing in AI and Big Data, which will contribute to VinFast’s intelligent driving systems. A week in the Lucid Air finds a lot to like, but also a car with a very particular target audience that may not work for everyone.
VinFast Global Manufacturing Plant (Hai Phong)
The company says it has 55,000 reservations for its EVs worldwide, but hasn’t given a breakdown of how many of those are from the U.S. Anecdotally, on our trip with VinFast to Vietnam, we met several U.S. and Canadian customers who have put down deposits on multiple VinFast vehicles and were invited by the company as VIPs. The Vingroup Joint Stock Company is a Vietnamese conglomerate with member brands that do everything from developing real estate to providing K-12 education to developing artificial intelligence. But for our purposes, the important name to know is VinFast, which can only really trace its history as far back as 2017, when it opened an automotive manufacturing plant in Hai Phong, Vietnam.
What Is VinFast? Everything You Need to Know about the New Name in EVs
This pushed its market cap higher than every automaker globally except Tesla and Toyota. It has since plummeted below $20, about where it was before the rally started. The VF e34 delivers a sophisticated, smart technology experience to the sea of sameness all-electric crossovers through intuitive technologies to enhance your drive. A new energy of affordability, a competitively priced, all-electric vehicle is here with the Vinfast VF 6. It features outstanding efficiency and modern styling throughout. Vehicle may show optional accessories that are not included in base vehicle and that are subject to availability.
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The future is famously hard to predict, and the news about VinFast is such a mixed bag that things get even more complicated. The brand is owned and operated by a company with plenty of money to spend on getting things right and big ambitions globally. VinFast has already broken ground on a manufacturing plant in North Carolina, which certainly projects the idea that it is confident about the brand’s future here in the United States.
For now, the only VinFast model you can buy here in the States is the VF8, so let’s take a closer look at what the response has been since its debut. A local ecosystem is getting built with component sourcing, dealership network, parts, service, battery recycling, etc. The VF6 / VF7 are the first two models to be assembled here to ramp up localisation soon. The facility spans 400 acres with an annual production capacity set at about 50,000 EVs, with the ability to scale to 150,000 based on demand and with an investment of around Rs 4,000 Crores or approximately US$500 million. VinFast is also taking reservations on the VF9, a flagship, three-row, 7-seater crossover that delivers up to 330 miles of range with a starting price of $83,000.
AUTOBEST is one of the most prestigious automotive jury associations in the world, which awards Best Buy Car Awards in Europe every year. VinFast’s new cars become the best-sellers in all three segments in Vietnam. Through global partnerships with trusted suppliers and organizations, and unprecedented investment in R&D, VinFast is ready to lead the EV revolution. We believe a sustainable future is only possible when everyone can enjoy access to smart, safe, and environmentally friendly EVs. Recovering from this bad press won’t be easy, but don’t count VinFast out just yet. There are reasons to think that it may be able to turn things around.