London Daily

Focus on the big picture.
Tuesday, Aug 05, 2025

Here's why Vietnamese automaker VinFast wants to build cars in the U.S.

Here's why Vietnamese automaker VinFast wants to build cars in the U.S.

Tesla and the other automakers selling electric cars in the U.S. are about to get some competition from an unexpected place.

The VinFast VF 9 will be on sale in California later this year.

Vietnam-based VinFast will begin exporting a lineup of all-electric SUVs to California later this year, but its American market plans are even more ambitious.


VinFast was founded in 2017 by Vietnam’s first-ever billionaire, entrepreneur Pham Nhat Vuong, whose fortune began with an instant noodle company he launched while living in Ukraine in the 1990s. The automaker started out making internal combustion engine vehicles but has since shifted to EVs.

Workers assemble an electric car at the VinFast electric automobile plant in Haiphong April 7, 2022.


"We see the demand and request for EVs booming everywhere in the world," Emmanuel Bret, VinFast’s deputy CEO of global sales and marketing told FOX Business in an exclusive interview.

Bret said the company will have 30 stores up and running by the end of the year in California and then expand nationwide as it builds the brand.

Part of its plan includes a $2 billion factory it has entered a memorandum of understanding to build at the Chatham County Triangle Innovation Point outside Raleigh, North Carolina, that will be funded with the help of an initial public offering it has filed for.

Bret explained that the company’s belief is that it’s better to be close to the customer and that the project proves how serious it is.

"We are in the U.S. for a long, long, long time, so we want to really show this," Bret said.

VinFast won’t be selling cars the old-fashioned way, however. The initial strategy is to sell and lease vehicles without battery packs, which will be leased separately.

"This is the only way to go for the future," Bret said.

The idea is that it will create an entirely circular system that will allow it to fully recycle the materials into new batteries, which it hopes will reduce manufacturing and ownership costs.

"We will offer premium quality for everyone at a reasonable price compared to the size and quality of the car," Bret added.

The first models that will be offered are the VF 8 and VF 9 SUVs, which will have starting prices of $40,700 and $55,500, respectively. The two-row and three-row vehicles were designed by Italy’s famed Pininfarina and engineered with the help of a number of major automotive industry suppliers, including Germany’s ZF.

The two-row VF 8 compact will also be on sale in California this year.


Pricing for the battery lease is set at $35-$44 monthly with 310 miles driving allowed and $110-$160 monthly for an unlimited plan, but charging is not included beyond two complimentary fill-ups on the Electrify America network.

If the battery pack degrades to under 70% capacity or has any issues it will be replaced for free and recycled.

VinFast said it may consider selling cars with batteries included in the future, but that it will focus on the subscription model for at least five years.

Newsletter

Related Articles

0:00
0:00
Close
Elon Musk Receives $23.7 Billion Tesla Stock Award
Texas House Paralyzed After Democrats Walk Out Over Redistricting
Mexican Cartels Complicate Sheinbaum’s U.S. Security Talks
Mark Zuckerberg Declares War on the iPhone
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
OpenAI’s Bold Bet: Teaching AI to Think, Not Just Chat
Tesla Seeks Shareholder Approval for $29 Billion Compensation Package for Elon Musk
Nvidia is cutting prices on its RTX 50-series graphics cards after sales slowed and inventories piled up
Ghislaine Maxwell Transferred to Minimum-Security Prison Amid Ongoing DOJ Discussions
U.S. Tariffs Surge to Highest Levels in Nearly a Century Under Second Trump Term
Matt Taibbi Slams Media for Role in Russiagate Narrative
Pilots Call for Mental Health Support Without Stigma
All Five Trapped Miners Found Dead After El Teniente Mine Collapse
Ong Beng Seng Pleads Guilty in Corruption Case Linked to Former Singapore Transport Minister
BP’s Largest Oil and Gas Find in 25 Years Uncovered Offshore Brazil
Italy Fines Shein One Million Euros for Misleading Sustainability Claims
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
Declassified Annex Links Soros‑Affiliated Officials and Clinton Campaign to ‘Russiagate’ Narrative
UK's Online Safety Law: A Front for Censorship
Nationwide Protests Erupt in Brazil Demanding Presidential Resignation
Parents Abandon Child at Barcelona Airport Over Passport Issue
Mystery Surrounds Death of Brazilian Woman with iPhones Glued to Her Body
Bus Driver Discovers Toddler Hidden in Suitcase in New Zealand
Switzerland Celebrates 734 Years of Independence Amid Global Changes
U.S. Opens Official Investigation into Former Trump Prosecutor Jack Smith
Leaked audio of Canada's new PM Mark Carney admitting the truth about the Net Zero agenda: "We're gonna make a lot of money off of this."
China Enforces Comprehensive Ban on Cryptocurrency Activities
Absolutely 100% Realistic EVO Series Doll by EXDOLL (Chinese Company) used mainly for carnal purposes
World Economic Forum founder Klaus Schwab: "In this new world, we must accept... total transparency. You have to get used to it. You have to behave accordingly. But if you have nothing to hide, you shouldn't be afraid."
Meet Mufti Hamid Patel, head of Office for Standards in Education in Pakistan
George Soros tells the World Economic Forum: "President Trump is a con man and the ultimate narcissist, who wants the world to revolve around him."
Hamas are STARVING the hostages.
Decline in Tourism in Majorca Amidst Ongoing Anti-Tourism Protests
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
Poland Begins Excavation at Dziemiany After New Clue to World War II‑Era Nazi Treasure
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Threatens Canada with Tariffs Over Palestinian State Recognition
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Trump Sues Murdoch in “Heavyweight Bout”: Lawsuit Over Alleged Epstein Letter Sets Stage for Courtroom Showdown
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
Trump Administration Finalizes Broad Tariff Increases on Global Trade Partners
J.K. Rowling Limits Public Engagements Citing Safety Fears
JD.com Launches €2.2 Billion Bid for German Electronics Retailer Ceconomy
Azerbaijan Proceeds with Plan to Legalise Casinos on Artificial Islands
Former Judge Charged After Drunk Driving Crash Kills Comedian in Brazil
Jeff Bezos hasn’t paid a dollar in taxes for decades. He makes billions and pays $0 in taxes, LEGALLY
China Increases Use of Exit Bans Amid Rising U.S. Tensions
×