Featured Vietnam's VinFast Preparing to Sell Electric Crossovers in the U.S.

Discussion in 'Prius, Hybrid, EV and Alt-Fuel News' started by Georgina Rudkus, Feb 13, 2022.

  1. Georgina Rudkus

    Georgina Rudkus Senior Member

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    Vietnam's VinFast Preparing to Sell Electric Crossovers in the U.S.

    Vietnam's VinFast Preparing to Sell EV Crossovers in the U.S.

    • VinFast, Vietnam’s first car company, announced it has established U.S. headquarters and said that showrooms will open in California soon.
    • The company plans to enter the U.S. market with two electric crossovers, the VFe35 and the VFe36, and is targeting to start sales in March 2022.
    • VinFast has an 8.4 percent share of the market in Vietnam but said it will need to raise additional funds to finance its global expansion.
    VinFast became Vietnam’s first domestic carmaker in 2019, when it started selling two gasoline-powered vehicles, the Lux A2.0 sedan and the Lux SA2.0 crossover, in its home market. Now the fledgling company has announced plans to expand into North America and Europe, with the goal of starting sales in the United States in March 2022. The automaker's global lineup will be centered around electric crossovers.

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    VinFast sold around 30,000 vehicles in Vietnam last year. The company has yet to make a profit but is quickly growing in Vietnam, becoming the fourth most popular car brand there this year, with an 8.3 percent share of the market. The company is part of Vietnam’s largest conglomerate, known as Vingroup JSC. In a statement Monday, Vinfast said it has opened offices in North America and Europe, with aims to open showrooms in California soon. The company also added that Van Anh Nguyen, CEO of VinFast's U.S. operation, recently moved from Vietnam to the U.S.

    [​IMG]
    VINFAST
    VinFast has admitted that it needs more funding for its expansion plans, suggesting either an initial public offering on the U.S. stock market or a merger with a Special Purpose Acquisition Company (as EV startup Lucid Motors did this year) to raise those finances. VinFast was originally eying an offering in the second quarter of this year that would help raise $2 billion in funding, but Reuters reported that the offering was delayed.

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    Currently, VinFast builds five vehicles. The Lux A2.0 is based on the F10-generation BMW 5-series and the Lux SA2.0 is built on the bones of the F15 version of the BMW X5, with both cars penned by Italian design house Pininfarina. VinFast's first EV is the VFe34, a subcompact crossover built on a VinFast-exclusive platform, and there is also the compact Fadil, a reskinned Opel Karl city car. VinFast also made a 500-unit run of the President, a version of the Lux SA2.0 packing a 420 hp 6.2-liter GM V-8.

    The Vietnamese brand's entry to the U.S. market will be based around the upcoming VFe35 and VFe36, a compact and mid-size electric crossover, respectively. Details for the U.S.-specific models have not yet been announced. VinFast had originally targeted sales of 56,000 EVs in 2022, but the global semiconductor chip shortage has forced VinFast to reduce that goal to 15,000 units.

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  2. PriusCamper

    PriusCamper Senior Member

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    Sure would be ironic if after a half century and millions of lives lost from defeating the US military that Vietnam started to sell more cars than Detroit. :)
     
  3. ColoradoBoo

    ColoradoBoo Senior Member

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    Interesting, but wrong, account of history. We didn't lose Vietnam, Democrats mismanaged the war so bad Americans had to elect Republicans to either win or get us out. They got us out. (LBJ started the mess in the early 60's.)
     
  4. vvillovv

    vvillovv Senior Member

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    The world is a much different place in 2022 than is was in Jan. 1973 when Peace was the Headline on the front page of every newspaper (that I know of, anyways) in the US.
     
  5. hill

    hill High Fiber Member

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    Wouldn't it be an irony .... if a bunch of electric vehicles were purchased by u.s. citizens from Vietnam - mostly because Toyota (one of several companies that pushed the narrative that nobody wants ev's) was so uber lackadaisical about getting them here ahead of so many other manufacturers?
     
  6. jzchen

    jzchen Newbie!

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    Wasn't it Vietnam, backed by USSR, that won?

    My wife and I have a reservation for one of each. I don't think my wife likes the VF9, too big for her though....

    Nice 7 night package for 4, (sans airfare), at one of their resorts, (upon signing purchase agreement)...

    Wondering what to do with my one Harmony One crypto coin that they gave me. Maybe I should invest in more....

    REVVL V+ 5G ?
     
  7. hill

    hill High Fiber Member

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    Geez - nearly ½ of the posts already off topic
     
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  8. vvillovv

    vvillovv Senior Member

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    Whoever it was backing veitnam in the 50's against France and 60's against the US, it was a real mess, both here and there.
     
  9. vvillovv

    vvillovv Senior Member

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    What's the topic again? Vietnam or selling cars in the US?
     
  10. orenji

    orenji Senior Member

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    Toyota is far from lackadaisical, they let Tesla have their time, to show how poorly their cars really are, now is the time for Toyota to come in provide options to the public, BEV, Hydrogen, Hybrid and ICE.
     
  11. PriusCamper

    PriusCamper Senior Member

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    Just like we didn't "lose" in Afghanistan after 20 years and trillions of dollars spent, right?

    Have you no shame? You're literally arguing that 1/2 million drafted american's going AWOL / burning their draft cards, as well as US soldiers throwing hand grenades in commanders tents because the war was doomed and they wanted to go home is now just a Democrats vs. Republicans and nothing to do with losing a major war?

    And you're seriously going to argue that the helicopter flights on the US embassy roof evacuating the last US presence in Vietnam for decades was not a losing the war and not us being chased out of the country at gun point, but something else?

    With that kind of perverse logic you should probably spend postgame after today's Super Bowl telling everyone that the losing team didn't actually lose and that it was just because the Democrats screwed up the game and we need more Republicans and white supremacy in professional football for it to be great again.

    Seriously dude, the dishonest mass murder lies have no limits with delusional crazy talkers like you. Here's the truth:

    "In 1995 Vietnam released its official estimate of the number of people killed during the Vietnam War: as many as 2,000,000 civilians on both sides and some 1,100,000 North Vietnamese and Viet Cong fighters. The U.S. military has estimated that between 200,000 and 250,000 South Vietnamese soldiers died." Vietnam War | Facts, Summary, Years, Timeline, Casualties, Combatants, & Facts | Britannica

    "Vietnam has reported that approximately 400,000 of its citizens were killed or maimed as a result of Agent Orange exposure, and claims at least half a million children suffering from birth defects, in addition to millions suffering from cancer. This led to a lawsuit by Vietnam against chemical companies that manufactured the herbicide use. Although the lawsuit itself was dismissed, the legacy of damage caused by Agent Orange cannot be ignored. Unfortunately, the health effects of Agent Orange use continue to affect unknown millions of people. The World Health Organization, in their latest fact-sheet on dioxin, related the continuous exposure to humans through the food chain. Because the chemical doesn’t degrade naturally, it tends to accumulate in the fatty tissues of animals." Long Term Effects of Agent Orange Exposure | Veterans Law Group
     
  12. Trollbait

    Trollbait It's a D&D thing

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    So, Toyota has been building Gigafactories to meet battery demand in secret.
    They planning to buy Nikola for the cheap, green hydrogen?
     
  13. bwilson4web

    bwilson4web BMW i3 and Model 3

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    When I See a Post in Oversized Bold Font, I Am Unable To Believe It. Stop Shouting!!!

    Bob Wilson
     
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  14. Georgina Rudkus

    Georgina Rudkus Senior Member

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    If you look at the original link, that's how it was formatted. Cool it, dude.
     
  15. jzchen

    jzchen Newbie!

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    Uh oh. We have $400 on them. Tesla's likely to raise the pricing on the Cybertruck and my wife's gonna likely pass. (Hate to say it but she'll likely pass as too big anyways)...

    REVVL V+ 5G ?
     
    #15 jzchen, Feb 13, 2022
    Last edited: Feb 13, 2022
  16. Rmay635703

    Rmay635703 Senior Member

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    Hopefully their launch goes better than the $10,000 Kandi k27 NEV that has been delayed sale 4 years

     
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  17. jzchen

    jzchen Newbie!

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    I know exactly why those aren't selling, who's gonna buy a vehicle with at top speed of 35 MPH, (website says "25-35 MPH Varied by States").

    That's more like a glorified golf cart...

    REVVL V+ 5G ?
     
  18. orenji

    orenji Senior Member

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    How many Prius have been built? I think they are not too worried about battery supply. Almost every country is realizing that Hydrogen is a big part of going green. BEV can’t meet everyone’s needs. Trucks, Planes, trains and ships are being tested on Hydrogen, and Honda, Toyota, BMW, Mercedes are all developing and or incorporating hydrogen vehicles within their portfolio.
     
  19. Rmay635703

    Rmay635703 Senior Member

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    The Chinese company refuses to buy airbags from 1 of the 4 compliant American facing airbag makers that allow resale to 3rd parties which is why they aren’t being allowed to crash test.

    Who is to say a Vietnamese car maker that does not have an American partner for safety equipment won’t have exactly the same holdup as Kandi?

    It’s not about safety it’s about source control compliance and repeatability , our laws are made to isolate our market, wanna play?
    Need a partner that already does business here, you would think the Chinese would know all about how that works but they don’t play by their own rules overseas
    Refusing to play ball the other direction will keep them mostly out of our market
     
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  20. PriusCamper

    PriusCamper Senior Member

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    Don't tell him to cool it... All of us can do better on here! Almost every post or comment I make on here I edit 1 to 3 times after posting because readers deserve quality! If you want to get sloppy and not make this a high quality experience for readers your gonna get me trolling your every post. I'll enjoy it to!