According to the company, VinFast is a subsidiary of the Vingroup conglomerate, which has interests in industry, hotels, technology, and real estate. Vingroup, founded in 1993, said it will have a combined capitalization of $35 billion from three publicly traded companies by November 2021.
VinFast unveiled the VF 8, VF 9, and three additional EV models during a January presentation at the Consumer Electronics Show in Las Vegas. The three newer vehicles are compact crossovers, but the automaker did not provide availability information.
At CES, VinFast announced that the VF 8 would start at $41,000, excluding the battery, which must be leased on a monthly basis. The three-row VF 9 crossover is priced starting at $56,000, including the battery. VinFast expects to begin deliveries in the United States by the end of the year.
According to VinFast’s reservation website, the VF 8 will have 402 horsepower and reach 60 miles per hour in 5.5 seconds. The automaker estimates the 5-seat crossover’s range to be 316.9 miles using the European WLTP standard. In the United States, the EPA range test generally produces lower results than the WLTP test.
The three-row VF 9 has the same horsepower as its smaller sibling and VinFast estimates a 6.5-second acceleration time from 0 to 60 mph. According to the WLTP test, the range is estimated to be 422.5 miles. According to the automaker, the large crossover can be configured with six or seven seats.
North Carolina is the latest southeastern United States state to attract substantial investment from the rapidly electrifying automobile industry. Rivian, an electric vehicle startup, announced plans earlier this year for a $5 billion truck plant near Atlanta.
Ford Motor Company will construct a massive new “mega campus” in Tennessee to manufacture next-generation electric F-Series pickup trucks and advanced batteries.
And in Alabama, Mercedes-Benz is set to begin producing electric vehicles at its 6 million-square-foot US manufacturing facility, which will be supplied by a new battery pack plant near the company’s assembly operations in Vance, Ala.