VinFast is a company that has emerged not just as an automaker but as a visionary in the realm of intelligent mobility. And the company’s mission is clear: to make electric vehicles smarter and more accessible, propelling people worldwide toward a sustainable future. Pulse 2.0 interviewed Nguyen Thi Van Anh, CEO of VinFast US Manufacturing, to learn more about the company.
VinFast’s Background
We know that VinFast has committed to becoming an all-electric vehicle manufacturer since 2022. Can you talk to us about this decision? Anh said:
“VinFast has been established since 2017. Since our early days, VinFast has aimed to catalyst and pioneer the global wave of smart, electric vehicles. Our manufacturing plant was also built for that same vision – to become the most highly developed, scalable production complex with roughly 90% of the work being automated, based in Hai Phong, Vietnam.”
“In 2022, we have made the switch to only produce electric vehicles and have dedicated to developing an extensive electrical vehicle ecosystem, including: electric cars, scooters, bus, and the coming-soon bike with our growing charging stations network across the nation.”
“The reason for our transition was that we believe electric vehicles will be the global, irreversible trend, with many countries nowadays having announced their scheme to ultimately terminate the use of gas-powered vehicles. The charging stations infrastructure and ecosystem are continuously enhanced and consumers are also more aware of and comfortable with the endorsement for electric vehicles.”
“Aside from all that, the electric vehicle industry on its own poses a highly potential market with exponential possibilities for growth in the future, as they are not only just a means of transportation but rather a technological product with many capabilities for constant improvement and innovation. Meanwhile, the competition is not yet too intense now as all the brands are still in their starting positions.”
Differentiation From The Competition
VinFast is a relatively new player in the EV market, yet you’re targeting a tough market in America with your VF8 and VF9 SUVs. What differentiates VinFast’s offerings from your competitors? Anh affirmed:
“VinFast is committed to creating different benefits for our customers aligning with our three core values: High-quality products – Good prices – Excellent services.”
“Our vehicles bring out unique values and stunning design, equipped with all the smart technologies at a solid price point. We are also confident with our sales and after-sales policies in ensuring all demands of different customer groups are met, as well as bringing about the ease in driving experience throughout their journey with us.”
“For example, our newly launched VF 8 features stunning Italian Pininfarina design; an impressive range of up to 264 miles and fast charging speeds; cutting-edge and human-centric technology; a comfortable and “smart” in-cabin experience; and an industry-leading warranty with 10 years/125,000 miles for vehicles and 10-year unlimited mileage for batteries, along with 24/7 mobile service. The VF 8 also offers a long list of premium features and advanced safety technology, including Advanced Driver Assistance Systems (ADAS), Smart Parking Assist, and Auto Emergency Brake – all provided as standard features, delivering exceptional value for EV drivers looking for more.”
“Our next star for the North American market – the VF 9 will also be equipped with a solid range of 330 miles per charge.”
Challenges Faced
What are the biggest challenges or opportunities you faced when entering the US market? Anh acknowledged:
“Regarding the challenges, VinFast is a young, energetic brand entering the highly competitive US market. For that, we understand the amount of effort required to convince our customers within the market.”
“Thus, we want to leverage our current advantages: the industry-leading warranty with ten years/125,000 miles for vehicles and 10-year unlimited mileage for batteries, along with 24/7 mobile service. By August 2023, we have accumulated roughly 10.000 pre-orders in the US market for both our SUV models, VF 8 and VF 9. This is a strong indicator for us that the market is perceiving VinFast products well.”
Future Goals
Can you unveil some of your future goals? Anh concluded:
“In Q1/2024, we expect to deliver the VF 9 models to our US customers. Additionally, VinFast will continuously deliver the VF 8 models to our customers and constantly work with our partners to expand our dealership network, improving our on-trade exposure within California and across the states.”
