Founded in 2017, VinFast is one of the newer automotive brands, and it has just recently started operating in the US. The Vietnamese automaker specializes in the production of electric vehicles, and it currently has two SUV EVs in its repertoire. One of the unique qualities of the brand is its battery subscription plan, which reduces the initial purchase price and shunts the responsibility and cost of maintenance onto the dealership or factory.
The main factory is located in Hai Phong, Vietnam, but for the USA, VinFast is planning to open a new factory in North Carolina. This should cut down delivery date times and make it easier for the budding automaker to infiltrate the growing EV market in the states.
Characteristics of VinFast Electric Vehicles
There are just two models from VinFast currently, and the automaker has yet to make a proper name for itself. However, there are already some signs as to how it wants to be perceived, and the characteristics of the VinFast electric cars going on sale reflect this:
- Powertrain: Naturally, electric motors are at the heart of these new EVs. Neither seems to be lacking, with the VF 8 model delivering 348 horsepower in base guise, and the VF 9 boasting 402 hp. Both use dual motors with all-wheel drive.
- Range and charging: One of the most competitive aspects of any electric car is range, and VinFast seems to be keeping this in mind. The Eco trims have a bit more life in them, with the VF 8 traveling up to 260 miles and the VF 9 managing 272 miles between recharge cycles. Most buyers will likely be drawn to the Enhanced Range (ER) models, which boast a much better 292 miles and 369 miles respectively. These figures are more in line with segment leaders, but it must be noted that they’re based on the more optimistic WLTP cycle. Recharging can be done at a fast-charge DC station for both VinFast models. Here, the batteries can be recharged from 10% to 70% in as little as 24 minutes for the VF 8, or 26 minutes for the VF 9. That time increases for enhanced-range versions.
- Price: Perhaps the most unique quality of any VinFast car is the unusual pricing structure. While it is possible to buy the complete vehicle including the battery, you would have to pay a lot more than what the automaker asks for if you are, instead, willing to rent the battery. The battery subscription plan saves you more than $10,000 upfront, though you do have to pay a couple hundred per month. However, you are not responsible for maintenance, repairs, or replacement of the battery if you are renting it. The automaker deals with this for you.
VinFast Car Prices In The USA
There are only two cars to choose from currently, but each has different pricing depending on whether you buy or rent the battery, and a different battery subscription cost:
|VinFast VF 8
|VinFast VF 9
What to Consider Before Buying
As a new brand with only two models to choose from, VinFast will need to create a space for itself in the US market. To do just that, it has some unique strategies that will either attract or repel certain consumers. Here are some of the pros and cons that stem from this approach:
- Very low asking price if you rent the battery
- No extra maintenance costs when renting
- Decent range in ER guise
- Spacious and comfortable SUV designs
- New brand with unknown reliability reputation
- Only selling SUVs, so sedan and coupe fans are out of luck
- Limited availability, mostly in California
- Battery subscription plan may make some buyers hesitant
Can I buy a VinFast EV in the USA?
With plans to open up to 30 dealerships in the USA by the end of 2022, VinFast stock will become readily available in the United States. However, all dealerships will be located in California, where the EV market is strongest, before an expected expansion to other states.
What is the price of VinFast cars?
The VF 8 has a starting price of $42,200, while the larger VF 9 starts at $57,500. Those prices exclude the monthly cost of $169 and $219, respectively, for the battery subscription. A permanent subscription fee will be offered for customers placing an order in 2022, or VinFirst Pioneers can enjoy a permanent subscription rate when purchasing a vehicle in 2022 or 2023.
What does the VinFast logo look like?
A relatively simplistic choice compared to many other logos out there, VinFast has chosen to represent its brand with a large, multilayered silver V.
Can VinFast compete with Tesla?
Tesla is no longer the only name in the EV game, so asking whether or not a new EV brand can compete with it seems less relevant. The fact that almost every other brand is making inroads into the segment shows that demand is high, and brand loyalty is going to play a big part in where the money goes. That being said, VinFast is a very young brand and not many people in the USA have even heard of it, so it may take some time to gain traction and support.