The electric SUVs automaker based from Vietnam Vinfast says that they will start taking orders from the first half of 2022. Then, the automakers add, they will start deliveries by the second half of 2022. It was announced by the company’s Global Chief Executive Michael Lohcheller.
Lohscheller said to Reuters, “It’s still early to make any sales predictions, but VinFast will unveil two of our latest EV models, which are VF e35 and VF e36, at the 2021 Los Angeles auto show this November, thus marking our official introduction to the American market,” According to Lohscheller, Vinfast will start delivering by December. Michael Lohcheller is a former Volkswagen and Opel executive who came to Vinfast in July.
Vietnam’s largest conglomerate, Vingroup is the arm for Vinfast. With an office in California, Vinfast is expected to inaugurate around 60 showrooms in the country by next year. This means the company is focused on launching its vehicles in the US and Europe by next year. They are competing with Tesla and other top EV players in the market. Additionally, the funding plant for Vinfast is from Vingroup. Post-Soviet Ukraine, founded as an instant noodle business, Vingroup also has interests in real estate, schools, hospitals, resorts, and smartphones.
Vinfast to keep an eye on manufacturing facilities in the US
Vinfast was founded in 2017, aims to compete on features like vehicle size and price. It is known that the company is coming up with a battery leasing scheme. Considering the most expensive part of an EV to be a battery, it could work out well. It would mean the final price of the vehicle will not include the cost of the vehicle.
China-based, Nio is also selling cars similar way, however, its market is mostly in Norway and China. Furthermore, VinFast has an assembly plant in Vietnam and is also keeping an eye on manufacturing facilities in the US. Currently, most of its sales in the US will be taking place online.
For next year, they targeting global EV sales of 15,000 vehicles. It is a drastic down from its earlier goals of selling 56,000 vehicles. Like many other automakers in the world, VinFast is also affected by the semiconductor chip shortage. Despite such a dip in sales forecast, the company is aiming for public listing in the US.
Lohscheller said, “VinFast has a plan for an IPO in the US, but specific timing will depend on the market and other conditions. We will reveal more information at an appropriate time in the future.”