Vehicles | September 11, 2022 4:53 pm

EV Startup VinFast Begins Delivering Vehicles in Vietnam

Deliveries to U.S. buyers are expected before year's end

VinFast
VinFast LLC's VF8 sports utility vehicle, at a delivery event at the company's factory in Haiphong, Vietnam, on Saturday, Sept. 10, 2022.
Yen Duong/Bloomberg via Getty Images

In the last few years, a number of automotive startups have arisen to make their presence felt in the growing electric vehicle market. That’s a good thing — the greater the proportion of electric vehicles are on the world’s roads, the lower global emissions will be. But some questions have lingered about highly-touted startups — such as when they would actually produce and deliver their vehicles.

For VinFast, founded in Vietnam in 2017 and now based in Singapore, the answer to that question is “this month.” As Autoblog reported, the company has begun delivering the first 100 SUVs that customers had ordered within Vietnam; its first deliveries to customers in the United States are slated for later this year.

Earlier this summer, VinFast opened its first showrooms in the United States, and — as per this Wall Street Journal article — also announced plans for a manufacturing facility in the U.S.

VinFast’s two electric vehicles, the VF8 and VF9, are both SUVs, and the company has adopted an interesting fianncing model wherein car buyers have the option to lease the vehicle’s battery. In the case of the VF8, that means that buying the car outright begins at $57,000, while opting for the “battery subscription” model lowers the starting up-front cost to $42,200.

It’s an intriguing approach for an automaker to take. And, with the electric SUVs starting to make their way to their buyers, we’ll know before long whether or not it’s a gambit that paid off.