Founded in 2017 with a team led by former General Motors Co executives, the company is aiming to compete on vehicle size and price – pitching an electric SUV that Van Anh described as "more luxurious" than those currently on offer.
A Tesla SUV sells for around $50,000, but Van Anh, who declined to discuss potential competitors, would not be drawn on how much a VinFast SUV would sell for. Two of the company's three electric models are destined for the United States, where the company is targeting annual sales of 45,000 cars, she said.There is precedent for Asian carmakers cracking the U.S. market.
"The product itself looks to have the right appearance and features, but this will only get you in the game. Winning requires a technology or business model edge over the competition." VinFast, whose manufacturing facility in Vietnam has the capacity to churn out 250,000 cars a year, is planning on conducting most of its U.S. sales online, removing the need for a costly dealership network. It has had 15,000 advance orders so far for its VF e34 electric car in Vietnam.Snyder told Reuters he was VinFast's first employee on the ground in the United States but, between full-time employees and consultants, the company now has around 100 people working there.