Vietnam’s VinFast to ship EVs to US, Europe, Canada in November

VINFAST, an electric carmaker backed by Vietnam’s richest man, will ship about 5,000 vehicles to customers in the US, Canada and Europe early November and begin global deliveries a month later, according to a statement from parent company Vingroup JSC.

VinFast delivered its first international model, the VF8 sports utility vehicle, to Vietnamese customers Saturday (Sep 10) at its factory in the northern port city of Haiphong. 

Prices for the mid-size SUV start at US$57,000 for those that include a battery and from US$42,200 for those with a monthly battery subscription, the carmaker said on its website. 

VinFast, which said in July that it had signed agreements with banks to raise at least US$4 billion to help its US expansion, has about 73,000 global reservations for its electric vehicles (EV), according to the company. It has secured about US$1.2 billion in incentives for its planned EV factory in North Carolina, where it intends to start production in 2024, according to the auto manufacturer. BLOOMBERG