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US Customers Receive Vietnam’s First VinFast Electric Cars

Industry: Future Mobility
Current: Company Performance

VinFast, a manufacturer of electric vehicles, announced on November 25, 2022, it had sent its first batch of 999 vehicles to the United States.
Customers should receive their first bulk of the VF 8 electric SUVs vehicles by the end of December 2022
Around January 2023, VinFast anticipated being able to export a second batch of vehicles to the United States, which would be its first foreign market

VinFast Announces Its First Batch of Electric Vehicles to the U.S

A five-year effort to establish an auto manufacturing capacity in the Southeast Asian nation for markets in North America and Europe came to an end on November 25, 2022, when VinFast, a manufacturer of electric vehicles, announced it had sent its first batch of 999 electric vehicles to the United States.

Customers should receive their first electric vehicles by the end of December 2022. The bulk of the VF 8 electric SUVs will be sent to retail customers who have ordered them; however, some will be delivered to the American vehicle subscription service Autonomy. Around January 2023, VinFast anticipated being able to export a second batch of vehicles to the United States, which would be its first foreign market. Apparently, the market volume of electric vehicles in Vietnam have increased steadily this year 2022 when compared to last year 2021, according to GlobalData.

Likewise, the market volume of electric vehicles in the United States have also increased steadily this year 2022 when compared to last year 2021, according to GlobalData.

In North Carolina, VinFast is constructing an electric vehicle manufacturing facility while awaiting final regulatory certification from local authorities. In accordance with the conditions of the Inflation Reduction Act, which was signed by American President Joe Biden, the company anticipated that manufacturing would begin at the North Carolina factory in July 2024 and that electric vehicles produced there would be eligible for subsidies.

According to the Inflation Reduction Act as it stands now, manufacturers must source 50% of the crucial materials used in EV batteries from North America or U.S. allies by 2024 and increase that number to 80% by the end of 2026.