The two models are the first offerings from the new Vietnamese automaker
There’s a new electric vehicle company in town, and its home base is in Vietnam.
If you’ve never heard of VinFast, you’re not alone. But the new-to-the-scene automaker brought two functioning all-electric SUVs to the 2022 New York International Auto Show in New York City.
VinFast’s parent company, VinGroup, has a number of brands under its aegis—VinHomes, VinBigData, VinBioCare, and VinBrain, among others—and has its finger in every pie from technology and medicine to corporate services. VinFast announced an initial public offering last week, as well as plans to invest $4 billion in a manufacturing plant in North Carolina.
These SUVs will compete with the Ford Mustang Mach-E, Hyundai Ioniq 5, Kia EV6, Subaru Solterra, Tesla Model Y, Toyota bZ4X, and Volkswagen ID.4. They are unique enough to have their own brand identity, yet fit right in with the latest EV designs.
Despite the fact that new EV companies seem to come and go with incredible frequency at this point in automotive history, VinFast looks promising, with ambitious production goals.
To make things more complicated, owners will be forced to select from one of two battery subscription plans that requires an additional monthly fee, on top of the purchase price, to drive the vehicle. One of the best parts for consumers will be the VinFast factory warranty, which covers the car for the first 10 years or 125,000 miles.