Polestar missed already-reduced 2023 delivery targets and its share prices have nosedived since going public in 2022 via a merger with a special purpose acquisition company (SPAC). The Vietnamese automaker, which has its headquarters in Singapore, currently sells the VF 8 five-seat all-electric crossover in the US and plans to start deliveries of its three-row VF 9 SUV later this year. It had a rough start in the first half of this year, experiencing multiple delivery delays, some caused by recalls, but eventually started deliveries of its US-bound vehicles.
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Reuters reported VinFast sold only 7,400 cars last year—all in Vietnam—but has projected sales between 40,000 and 50,000 cars this year as it expands beyond the country’s borders. VinFast’s VF8 electric SUV is the only car currently for sale in the United States, and only at 13 showrooms in California, but the company is planning to start offering its larger SUV later this year and two others next year, CNN reported. By comparison, Tesla delivered 1.3 million cars in 2022 and Toyota sold 10.5 million.
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- In fact, the young automaker even expects to deliver the first units of its larger sibling, the handsome , before 2023.
- US mileage estimates on the EPA’s more-stringent test cycle figure to be somewhat lower.
- I also noticed inconsistencies in power levels between the two test vehicles (likely attributable to different software versions), and at least one other media member reported a momentary total loss of power during their test drives after coming off the brakes.
- Regarding equipment levels, both the VF 9 Eco and VF 9 Plus are generously equipped.
- Sign up here to find out more about the exceptional features crafted into every VinFast, and our mission to drive the world to switch to electric vehicles.
- In the wake of Tesla’s industry-shaking success and the future promise of electric, autonomous mobility, would-be electric car companies are sprouting up everywhere.
Despite such dire conditions, if I had to place my chips on a single new automaker to escape the mire, it’s Vietnam’s VinFast. In fact, there’s ample reason to believe the company won’t just survive, it will likely shortly emerge as a global force, including right here in America. I say this after having flown to Asia to learn about the company and drive its first US-bound model, the 2023 VF 8 electric SUV. My trip quickly turned out to be as much of a test drive of VinFast itself as it is of its forthcoming battery-powered compact crossover. Polestar began as a racing team closely aligned with Volvo, evolving into a performance sub-brand for the automaker before becoming a standalone brand in 2017 at the direction of Volvo parent Geely.
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The enhanced-range Battery Version 2 Eco is slated to deliver 292 miles for $41, just $300 more. The more luxurious (and consequently heavier) VF 8 Plus is expected to achieve 248 miles of range in Battery Version 1 guise ($47,700) and 277 miles in its $48,000 Battery Version 2 spec. US mileage estimates on the EPA’s more-stringent test cycle figure to be somewhat lower. VinFast engineers say a one-pedal drive model is under development and will likely be released to early vehicles via an over-the-air update. I also noticed inconsistencies in power levels between the two test vehicles (likely attributable to different software versions), and at least one other media member reported a momentary total loss of power during their test drives after coming off the brakes. These sorts of experiences are relatively common in early prototype vehicles, but given that VinFast plans to hand over production models to expectant owners in a little over six months, engineers clearly have their work cut out for them.
My drive is limited to quick acceleration blasts up and down a road between factory buildings, with a U-turn on one end and a keyhole loop return on the other. Signage suggests our tests are to be capped at 80 kph (50 mph), but the engineer sitting in my passenger seat allows me to go far more quickly, touching 100 mph before braking hard into the left-handed keyhole. Being an EV, acceleration is predictably smooth, but with the 19-inch Goodyear Eagle Touring tires under load in the final turn, the steering’s a look at the current trading paradigm power assistance has brief moments where it feels oddly nonlinear. Given VinFast’s damn-the-torpedoes corporate pace, it should come as no surprise that the two VF 8 prototypes I’m testing are decidedly unfinished. In fact, they’re not even operating on the same development software versions, and many of the vehicles’ software functions… Combine that with a makeshift drive loop that’s perhaps a couple of kilometers long, and it’s all but impossible to draw concrete conclusions about whether or not this EV belongs on your shopping list.
Roeloffs was included on Editor & Publisher Magazine’s “25 Under 30” list in 2023 and worked covering local news in the greater Boston area from 2017 to 2023. She graduated with a double major in political science and journalism from Northeastern University. Follow Roeloffs for continued coverage of streaming wars, pop culture news and trending topics.
It’s behind only Tesla and Toyota, despite selling just 151 vehicles in the US in the first half of the year.
Per the manufacturer’s website, the entry-level Eco has a price of $69,800, which is significantly lower than the initial $83,000 price tag. Its dashboard is dominated by a landscape-oriented 15-inch infotainment touchscreen. There’s a color head-up display, but notably, there’s no traditional gauge cluster — you either look at the HUD or glance at the main screen to see how fast you’re going. The center console is dominated by a push-button gear selector, and the three-spoke steering wheel’s most noteworthy feature is a tiny driver-facing camera atop the column, a hint that VinFast plans to offer some kind of hands-free driving assist. It’s too early to judge the VF 8’s fit and finish, as there are some preproduction and ill-fitting parts in evidence (including a power seat controller wired in reverse). Shares of VinFast surged 23% Monday morning, as the Vietnamese electric car manufacturer has quadrupled its market value after its initial public offering earlier this month and quickly become a rival to Tesla and Toyota — though investors are still bracing for volatility.
Monday, just two weeks after its debut on the Nasdaq Global Select Market with a share price of $10 and a valuation of $23 billion following a merger with Black Spade Acquisition Co. in a special purpose acquisition company (SPAC) deal. Images and videos shown contain pre-production level vehicles. VinFast, the innovative new electric car company, prioritizes premium craftsmanship and high-quality parts in crafting its EVs. Engineered for safety, reliability, and comfort on every journey. The VF 8’s exterior is contemporary, with standard LED illumination and a V-shaped grille with integrated daytime running lamps that echo the brand’s logo.
The Southeast Asian carmaker debuted on the Nasdaq stock market on August 15 with the trading symbols “VFS” and “VFSWW” after completing a SPAC merger with Black Spade Acquisition Company. A day later, VinFast’s shares closed at $37.06 in https://forexanalytics.info/ New York. However, as Reuters notes, the small amount of publicly available shares (1.3 million) has made VinFast’s stock prone to volatility, with the price going up and down more than 14 percent in 11 of the past 12 trading sessions. Nothing if not ambitious, VinFast plans to have models in US customers’ hands by year’s end. While VinFast has yet to disclose exactly how large the Samsung-celled packs are in the Battery Version 1 models, the larger packs are 90 kilowatt-hours. On a DC fast charger, Version 1 models can go from 10% to 70% full in 24 minutes, while vehicles with the larger packs take 31 minutes.
The purchase option at the lease end, excluding tax, title, and government fees, is $23,850, plus a purchase option fee of $350. Cash due at signing includes $249 first month’s payment, $695 acquisition fee, $999 in down payment and $0 security deposit. Through August 31, 2024, lease offer is available on the new 2024 VinFast VF 8 Eco model leased through VinFast Auto, LLC (offer subject to change based upon availability). The purchase option at the lease end, excluding tax, title, and government fees, is $21,712, plus a purchase option fee of $350.
Sign up here to find out more about the exceptional features crafted into every VinFast, and our mission to drive the world to switch to electric vehicles. VinFast broke ground on its North Carolina plant to build EVs in America. Per the website, the company has opened up 13 showrooms — all in California.
VinFast started in 2017, and just 21 months later, it had three different passenger cars in production in a massive, fully modern factory complex in Haiphong, about two hours east of Hanoi. Those first models were admittedly based heavily on tech purchased from other automakers like BMW, but even so, the accomplishment can’t be overstated. In fact, the young automaker even expects to deliver the first units of its larger sibling, the handsome three-row VF 9 EV, before 2023.