VinFast is a new electric vehicle company that is coming to North America and Europe but most people have never heard of them.  We have a deposit on a new VinFast VF8 and before we ordered that SUV, we did a pile of research you might be interested in.


What Is VinFast’s Target Market?

VinFast VF9 VF8 VF7 VF6 VF5 VF4 SUVsVinFast is making Luxury SUV’s and pricing them about 20% below the competition to gain a foothold in the market.  Think of them as Genesis, which is Hyundai / Kia’s luxury brand.

The vehicles are beautifully styled by famed automobile designer Pininfarina and come with all the amenities including heated, ventilated and movable second row seating, and a full tech suite to provide you with all the self driving fun you could want.


What Is The VinGroup?

VinGroup is VinFast’s parent company and it is big.  In fact, VinGroup is Vietnams largest conglomerate.  Before VinFast, VinGroup focused on real estate, technology, education and healthcare.  Here are some of their larger brands and companies:

VinGroup of Companies Brands

Unlike Samsung and Hyundai, they do not have any heavy industry (steel, shipping, heavy equipment…) operations.


Are VinFast SUVs High Quality?

Until we get production models in the hands of Western buyers (like me!), we won’t know for sure but we can say:

  • The prototypes look great
  • The designers and engineering are from some of the worlds best companies like Pininfarina and BMW
  • They are using state of the art vehicle manufacturing systems for welding, painting and assembly

The few people that have driven them are impressed:


When Did VinFast Start Making Cars?

VinGroup founded VinFast LLC in 2017 and immediately went to work with industry heavy weights like Magna, BMW and Pininfarina.

vinfast factory siemensIn September 2017 they started construction of a US$1.5 billion, state of the art, highly mechanized automobile and electric motorcycle factory near Cat Hai Island, Hai Phong.  The factory started operations in June of 2019.  German giant Siemans takes credit for much of the work and calls it “The first fully digital automotive factory in South East Asia”.

In March 2019, VinFast sent its first 155 units to Europe, Asia, Africa, and Australia for testing and validation.

The first all electric VinFast vehicles delivered to end user customers occurred December 25, 2021.


What Does VinFast Have To Do with General Motors?

VinFast has some business arrangements with GM but no intellectual property, ownership or management ties.

In June of 2018 GM and VinFast made three notable announcements:

  1. VinFast has taken ownership of a GM factory located in Hanoi named VIADMCO.
  2. VinFast will use that plant to produce an “all new global small car”
  3. VinFast now has exclusive rights to distribute Chevrolet products in Vietnam, which is about 12,000 vehicles per year, all of which will be imported

VinFast also hired Michael Lohscheller as their new CEO in July of 2019.  He was working as the CEO of Opel at the time.  Opel was GM’s Chevy division in Europe before they sold Opel to Peugeot in 2017.

Michael Lohscheller VinFast CEOHe was influential in seeing Opel return to profitability after decades of stagnation under GM, and helped lay the groundwork for Opel’s planned transformation into an electric-vehicle brand.

His first task at Vinfast (was) to scale up its operations and expand it to more markets. He will be based on Vinfast’s global headquarters located in Hai Phong, Vietnam… SOURCE


Does VinFast Have Enough Money To Run a Global Automotive Brand?

VinFast is going public likely in 2023, until then, the parent company VinGroup will pay for everything.

VinGroup is run by Pham Nhat Vuong who is Vietnams richest person currently worth US$6.2 billion.

Here are VinGroups’s financials which tells you they are a well financed, real company:


Can I Buy Shares in VinFast?

Not yet, but soon.  On April 7th 2022, VinFast submitted papers to the US Security and Exchange Commission:

VinFast…. announced that it has confidentially submitted a draft registration statement on Form F-1 to the Securities and Exchange Commission (the “SEC”) relating to the proposed initial public offering of its ordinary shares. The size and price range for the proposed offering have yet to be determined. The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions.  SOURCE


What Country is VinFast Based In?

You would think that a company with a Vietnamese parent (VinGroup) and substantial manufacturing in Vietnam, would be legally a Vietnamese company.  Alternately, you might think that a company from a small south Asian country trying to make a splash in the West, including, listing on Nasdaq, having it’s biggest market in the United States and building its largest factory in North Carolina, might be a US company.  However, both of these are wrong. VinFast is technically a Singapore-incorporated subsidiary of Vingroup Joint Stock Company.


Where Are VinFast Vehicles Made?

In 2022 all VinFast vehicles are made in Vietnam but in April of 2022, they announced a memorandum of understanding with the State of North Carolina for construction of US$2B greenfield  factory that will create 7000 jobs during construction.  The 2000-acre facility will be able to produce 150,000 vehicles a year and includes its own battery manufacturing area.

VinFast Plans a Massive Factory in North Carolina: The massive investment targets production of batteries and two upcoming vehicles on property nestled southwest of Raleigh… the company plans to start production by 2024…

VinFast’.. plans to build the VF 9 and VF 8 battery-electric SUVs beginning in July 2024. The vehicles have space for seven and five passengers, respectively. The company also plans to use the factory to assemble batteries and electric buses. In the first phase of the factory, VinFast expects to produce 150,000 vehicles per year. SOURCE


What Is The VinFast Warranty?

VinFast’s come with an industry best 10 year 125,000 mile (200,000 kilometer) warranty and provide luxury services like:

  • Mobile services accessible in one touch: no waiting
  • Free pick-up service and relaxing lounge at service shop

What Charging Standard Does VinFast Use?

Put simply VinFast vehicles will have the same charging connector as all the other newer EV’s.

  • In Canada and the United States VinFast uses CCS 250 kW DC Fast chargers
  • In Europe VinFast will likely have CCS but also may use the Tesla proprietary charging standard

Both of these will allow you to charge to about 70%, in less than half an hour.

vinfast charging port


Does VinFast Provide Free Charging?

VinFast has several charging network partners but the biggest is Electrify America (EA).  While details have not been announced, VinFast customers will receive some substantial amount of no-charge charging at any of EA’s 850+ charging stations.


Are VinFast SUV’s All Wheel Drive?

To date VinFast has only disclosed specifications on the VF9 and VF8 SUV’s and both of those are “dual motor” all-wheel-drive vehicles.

Other, less expensive products like the soon to be announced EF4 will almost certainly provide single motor, two wheel drive options.


Why Does VinFast Lease The Battery?

VinFast has identified consumer concerns about battery life in EV’s as a major marketing hurdle.  Leasing the battery separately from the vehicle purchase does three important things:

  1. Allows VinFast to sell US$60,000 vehicles for $40,000 up front
  2. Eliminates consumer fears surrounding battery life
    • VinFast will replace EV batteries that fall below a 70% charging threshold at no cost to the consumer for the life of the vehicle
  3. Provides VinFast with an ongoing revenue stream that allows them to be connected to the client many years after the original purchase

How Much Does a VinFast Battery Lease Cost?

VinFast has a low mile and an unlimited mileage option for their vehicles:

  • VinFast “Flexible” Battery Lease:
    • VF8 US$35/month = 310 miles (500 kilometers) +$.11/additional mile
    • VF9 US$44/month = 310 miles (500 kilometers) +$.15/additional mile
  • VinFast “Fixed” Battery Lease:
    • VF8 US$110/month = unlimited miles
    • VF9 US$160/month = unlimited miles

Lets do the math on a VinFast VF8:

  • $35 = 300 miles per month
    •  $35 + (0x $0.11)
  • $72 – 650 miles per month
    •  $35 + (340x $0.11)
  • $111 = 1000 miles per month
    •  $35 + (690x $0.11)
  • $138   = 1250 miles per month
    •  $35 + (940x $0.11)

What Vehicle Models Does VinFast Sell?

Today VinFast makes cars, SUV’s buses, and motorcycles in Vietnam using mostly internal combustion engines, but will be selling only Electric Vehicles in:

Further, they have what they call “Variant 1” and “Variant 2” batteries.  V1 batteries will only be available from now through the first half of 2023 when the V2 batteries arrive.

VinFast VF9 Specifications & Pricing:

Click to Expand Photos:

VF9EcoPlus
United States Price$55,000$61,000
Canadian Price$69,750?
ROOFStandardPanoramic Sunroof
ALLOY WHEEL20″21″
MIRRORSStandard22″ (Optional)
Auto-Dimming
12-Way Power Adjustment
DRIVER SEAT8-Way Power AdjustmentHeated
HeatedVentilated
Massage
10-Way Power Adjustment
FRONT PASSENGER SEAT6-Way Power AdjustmentHeated
HeatedVentilated
Massage
4-Way Power Adjustment
SECOND-ROW SEATSN.AHeated
(CAPTAIN CHAIR VERSION)Ventilated
Massage
8-Way Power Adjustment
SECOND-ROW SEATS (STARDARD)4-Way Power AdjustmentHeated
HeatedVentilated
Massage
8-INCH SECOND-ROW INFOTAINMENT SCREENNot IncludedIncluded
ACCELERATION (TARGET ESTIMATE)< 6.5s 0-100 kmph6.5s 0-100 kmph
Variant 1: range up to 438 km*Variant 1: range up to 423 km*
RANGE (WLTP – TARGET ESTIMATE)Variant 2: range up to 594 km**Variant 2: range up to 580 km**
*available in 2022*available in 2022
**available in 2023**available in 2023
DRIVEDual MotorDual Motor
All-Wheel DriveAll-Wheel Drive
SEATING7 Adults6 Adults (Captain chair version) or 7 Adults
DC-FAST CHARGINGFastest charging time (10 70%):Fastest charging time (10 70%):
– Variant 1: approximately 26 minutes– Variant 1: approximately 26 minutes
– Variant 2: approximately 35 minutes– Variant 2: approximately 35 minutes
WARRANTY10 years or 200,000 km10 years or 200,000 km

.


VinFast VF8 Specifications & Pricing:

Click to Expand Photos:

VinFast VF8EcoPlus
United States Price$41,000$48,000
Canadian Price$51,250?
ROOFStandardPanoramic Sunroof
ALLOY WHEEL19″20″
MIRRORSStandard21″ (Optional)
Auto-Dimming
8-Way Power Adjustment12-Way Power Adjustment
DRIVER SEATHeatedHeated
Ventilated
6-Way Power Adjustment10-Way Power Adjustment
FRONT-ROW SEATSHeatedHeated
Ventilated
SECOND-ROW SEATS2-Way (Manual) Adjustment2-Way (Manual) Adjustment
8-INCH SECOND-ROWHeatedVentilated
INFOTAINMENT SCREENNot IncludedIncluded
ACCELERATION (TARGET ESTIMATE)5.9s 0-100 kmph5.5s 0-100 kmph
Variant 1: range up to 420 km*Variant 1: range up to 400 km*
RANGE (WLTP – TARGET ESTIMATE)Variant 2: range Up to 471 km**Variant 2: range up to 447 km**
*available in 2022*available in 2022
**available in 2023**available in 2023
DRIVEDual MotorDual Motor
All-Wheel DriveAll-Wheel Drive
SEATING5 Adults5 Adults
DC-FAST CHARGINGFastest charging time (10 70%):Fastest charging time (10 70%):
– Variant 1: approximately 24 minutes– Variant 1: approximately 24 minutes
– Variant 2: approximately 31 minutes– Variant 2: approximately 31 minutes
WARRANTY10 years or 200,000 km10 years or 200,000 km

 


VinFast VF7 Specifications:

We don’t have much in the way of specifications for the VF7, VF6, VF5, or VF4 but we do have this pretty picture of them:

Click to expand the picture

VinFast VF9 VF8 VF7 VF6 VF5 VF4 SUVs

This is about all that has been discussed so far:

Although the manufacturer has not yet commented on the powertrain, the Vinfast VF 7 (2023) could receive the powertrain of the VF 8. This has all-wheel drive, is 300 kW (407 hp) powerful and has a range of up to 500 kilometers (WLTP). SOURCE


Are There Any Promotions For Reserving A VinFast Early?

Yes there and while they are all similar, the offers vary by country:

In the Unites States a $200 REFUNDABLE deposit down now, you get:

  • $3000 voucher for the VF8 or $5000 for the VF9
  • $7500 worth of ADAS (self driving, collision avoidance…)
  • Free charger
  • Bunch of other bits including a 7 day Vietnamese 5 Star resort stay

In Canada $250 REFUNDABLE deposit down now, you get:

  • $3500 voucher for the VF8 or $6000 for the VF9
  • $8500 worth of ADAS (self driving, collision avoidance…)
  • Free charger
  • Bunch of other bits including a 7 day Vietnamese 5 Star resort stay

We will have coverage of all VinFast products and annoucements on this site so check back soon.


 


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