Retail News CRM

Tag: vinfast

  • First electric bike delivery service launched in Vietnam

    First electric bike delivery service launched in Vietnam

    Delivery company Ahamove has partnered with automaker VinFast to launch AhaFast, the first delivery service in Vietnam to use only electric bikes.

    AhaFast began operation Thursday in Da Nang City with 100 electric Feliz S motorbikes provided by VinFast.

    The electric bike service will be expanded to Hanoi, Ho Chi Minh City, Hai Phong and Nha Trang in the future.

    Ahamove plans to put 10,000 electric bikes into operation by 2025, gradually replacing gasoline-powered motorbikes.

    VinFast says its electric bike can run 200 kilometers on a full charge, and has an IP67 waterproof standard that allows it to operate in heavy rain and flooding.

    Lees ook:

    Lees ook:

  • VinFast stops accepting orders for gasoline cars

    VinFast stops accepting orders for gasoline cars

    Automaker VinFast has stopped accepting new orders for gasoline-powered cars four months earlier than announced as it seeks to become a major global player in electronic vehicles.

    It has received a huge number of orders for its Lux SUV and sedan and Fadil hatchback, and plans to keep the production line going until it fulfills them, it said in a statement Friday.

    It said it would continue to service them for another 10 years to ensure the cars can be maintained through their life cycle.

    The country’s first indigenous automaker announced in January it would completely transition to electric vehicles this year and is eyeing the U.S. and Europe as its first global markets.

    It has so far received 73,000 orders for electric vehicles.

    It started delivering them at the end of last year and had sold over 2,200 VF e34 cars by the end of June.

    VinFast plans to have 150,000 charging stations around the country by this year.

    Lees ook:

    Lees ook:

  • Vietnam’s VinFast seeks US government loans for expansion

    Vietnam’s VinFast seeks US government loans for expansion

    The chairman of Vietnam’s Vingroup conglomerate said on Saturday that the company’s auto unit, VinFast, would seek financing from the U.S. government to support its expansion with a planned plant in North Carolina.

    “It is also one of our financing options, but we need to prove to them that we are qualified,” Vingroup Chairman Pham Nhat Vuong told a group including reporters.

    VinFast said this week that its Singapore-based holding company had filed for an initial public offering (IPO) with U.S. securities regulators, as the company readies a $4-billion investment to build a factory in the United States.

    VinFast, which began operations in 2019, is betting big on the U.S. market, where it hopes to compete with legacy automakers and startups with two all-electric SUVs and a battery leasing model that will reduce the purchase price.

    Vuong said VinFast was committed to an IPO that would help establish the electric vehicle maker as a global brand, but added: “if the conditions are not right we can wait.”

    “We ourselves are determined to push and committed to this IPO, but the highest target for the IPO is not financing but to set up VinFast in the global market,” he told the group.

    Lending from the U.S. government’s Advanced Technology Vehicles Manufacturing (AVTM) loan program was another option VinFast was exploring, Vuong said, in response to a question.

    The $25-billion fund was established by Congress in 2007 when Detroit-based automakers were tipping into crisis. It is administered by the Department of Energy still has a lending capacity of almost $18 billion, according to its website.

    VinFast has promised to create 7,500 jobs at its planned plant in North Carolina, where it will build the battery-powered VF8 and VF9 SUVs. The company has said it plans to begin construction of the plant as soon as permits are granted with a goal of starting production by 2024.

    It plans to begin exporting the two electric vehicles to the United States later this year from its existing plant in Vietnam.

    Lees ook:

    Lees ook:

  • VinFast to build $2-bln electric auto plant in US

    VinFast to build $2-bln electric auto plant in US

    Automaker VinFast has signed a deal with North Carolina state in the U.S. to build a $2-billion plant to make electric buses, cars, and auto batteries. It is set to finish by July 2024, when it will have a capacity of 150,000 units a year, VinFast said in a statement Wednesday. Investment in the plant will eventually double to $4 billion.

    U.S. President Joe Biden claimed in a statement Tuesday that the plant, which will create more than 7,000 jobs and hundreds of thousands of electric vehicles and batteries, is the latest example of his economic strategy at work.

    “Our efforts to build a clean energy economy are driving companies to make more in America, rebuild our supply chains here at home, and ultimately bring down costs”.

    The announcement is the latest move by VinFast, a subsidiary of Vietnam’s biggest private company, Vingroup, in its efforts to become a global electric vehicle manufacturer.

    It is targeting sales of 42,000 this year after starting to deliver cars in the U.S., Canada, France, Germany, and the Netherlands in late 2022.

    Outside of North America, it is looking to set up a plant in Germany, the company had said in January.

    VinFast’s VF8 and VF9 electric SUVs cost from $41,000 to $61,000 in the U.S. By comparison, a Tesla SUV sells for around $63,000.

    The company became Vietnam’s first indigenous car manufacturer in 2019 and plans to transition completely to electric vehicles this year.

  • Vietnam car maker VinFast to build US battery factory as it goes all-electric

    Vietnam car maker VinFast to build US battery factory as it goes all-electric

    Vietnam’s VinFast plans to build electric vehicle battery cells and packs in a new U.S. manufacturing complex, its global chief executive told Reuters, as the company pledged to transform itself into an all-electric automaker by the end of this year.

    VinFast, part of Vingroup JSC, the largest conglomerate in the country, became the country’s first full-fledged domestic car maker when gasoline-powered models built under its own badge hit the streets in 2019.

    The company, which began selling electric vehicles (EVs) in Vietnam at the end of 2021, said in a statement on Thursday it planned to become what it said would be the first car company to cease making gasoline-powered cars and transition to all-electric vehicle production from late 2022.

    VinFast is betting big on the U.S. market, where it hopes its electric SUVs and a battery leasing model will be enough to tempt consumers away from the likes of Tesla and General Motors.

    “We will build our gigafactory in the U.S. as well,” Le Thi Thu Thuy, Vingroup vice chair and VinFast Global CEO said, referring to the new battery facility in an interview during her U.S. visit to attend the Consumer Electronics Show in Las Vegas.

    The company will continue to source batteries from its suppliers, she added. Thuy said VinFast will initially assemble battery packs with cells sourced from its supplier at its U.S. complex before starting its own production there.

    “We have narrowed down from I think, over 50 sites to about three sites,” she said.

    She will visit some sites during her trip before making a decision this year, adding that the “mega site” would also include an electric bus factory.

    In December, Vingroup said it had started building a battery cell plant in Vietnam. The company is looking to initially produce 100,000 battery packs per year, with $174 million in investment, and then upgrade capacity to one million.

    VinFast previously said it had plans to start producing electric cars in the U.S. in the late 2024. The company said that on Thursday it was seeking to establish an EV plant in Germany.

    “The era of shipping cars around the world is over, especially since Covid-19. You must have the factory close to the market in order to win over your customers,” VinFast said in a statement.

    VinFast said prices for its VF8 sport utility vehicle (SUV) started from $41,000 in the United States, and that it would apply blockchain technology to record orders and confirm ownership. By comparison, a Tesla SUV sells for around $50,000. Vingroup said it was targeting global electric vehicle sales of 42,000 in 2022. Shares of Vingroup rose as much as 5.8 percent on Thursday after it revealed VinFast’s EVs line-up and the plans to go all-el

    Lees ook:

    Lees ook:

  • VinFast announces US headquarters in Los Angeles

    VinFast announces US headquarters in Los Angeles

    VinFast on Wednesday announced its U.S. headquarters will be located in Los Angeles, California, affirming its goal to become a global automaker spearheaded by electric vehicles.

    The company’s U.S. headquarters is located in the Playa Vista area – a neighborhood known as “Silicon Beach” and packed with tech firms in Los Angeles.

    “We are so proud to welcome VinFast to our city as we continue leading the way to a better-connected, cleaner, and more sustainable transportation future,” said Los Angeles Mayor Eric Garcetti.

    The headquarters is over 15,000 square feet (1,393 square meters) with room to expand.

    VinFast intends to establish its management team and hire more than 400 employees at its headquarters and a regional office in Los Angeles within the next several years.

    In addition to its corporate headquarters in Los Angeles, VinFast is investing in regional offices, a call center, and a network of storefronts to help introduce the brand and products to American customers.

    VinFast’s decision to place its U.S. headquarters in California was due in part to a $20.5 million tax credit awarded by the California Governor’s Office.

    The California government’s announcement, released on Nov. 5, builds on VinFast’s investment of more than $200 million in its initial phase in California, thus creating over 1,000 new, full-time jobs statewide.

    VinFast, a unit of Vietnam’s conglomerate Vingroup, will officially debut two of its first electric vehicles, the VF e35 and VF e36, at Los Angeles Auto Show that begins this week.

    Lees ook:

  • Vietnam’s VinFast eyes over $200 mln capital investments in California

    Vietnam’s VinFast eyes over $200 mln capital investments in California

    VinFast said Friday it will make over $200 million in capital investments and place its U.S. headquarter in California as part of its plan to expand operation in North America.

    VinFast, the automobile arm of Vietnam’s largest conglomerate Vingroup, became the country’s first fully-fledged domestic car manufacturer when its gasoline-powered models built under its own badge hit the streets in 2019.

    It is aiming to debut in the U.S. with two battery-electric SUVs and inaugurate 60 showrooms across the country next year, the company said.

    VinFast has said it will keep an eye on the possibility of a manufacturing facility in the U.S.

    Lees ook:

    Lees ook:

  • Vietnam’s carmaker VinFast eyes more countries for its European strategy

    Vietnam’s carmaker VinFast eyes more countries for its European strategy

    Vietnamese carmaker VinFast could add other markets in 2023 to expand its European strategy beyond a planned debut in Germany, France and the Netherlands next year.

    The company, a unit of Vingroup Jsc, Vietnam’s largest conglomerate which some have called “Vietnam’s answer to Tesla,” will debut in Europe next year with two battery-electric SUVs models, the midsized VF e35 and the seven-seater VF e36, both designed by Italy’s Pininfarina.

    The two models launch in Vietnam, North America and Europe around mid-2022, after an unveiling planned later this year.

    VinFast became Vietnam’s first fully-fledged domestic car manufacturer when its first gasoline-powered models built under its own badge hit the streets in 2019.

    VinFast’s B2B Sales Vice President Emiel Hendriksen said on Thursday it was also looking at Italy, Scandinavia, Switzerland and Austria for a second step in its European strategy.

    “We’re considering those countries for 2023,” he said during a presentation at Pininfarina headquarters in Turin.

    VinFast will initially rely on a direct distribution model in Germany, France and the Netherlands, based on property showrooms, but could later consider an agency model for sales in other countries, Hendriksen said.

    The company sold about 30,000 vehicles domestically last year and had set a target of selling 15,000 electric vehicles in 2022, although its representatives did not provide detailed forecasts for the European market on Thursday.

    Earlier this year sources said parent Vingroup JSC was considering an U.S. initial public offering (IPO) of its car unit that could value VinFast at about $60 billion, though an initial second-quarter deadline for the deal mentioned by one of the sources was delayed.

    VinFast Europe CEO Bich Tran said any IPO decision was up to the company’s headquarters in Vietnam.

    “Our European plans are independent from any IPO. We’re carrying on with our plans, everything in Europe is moving as planned,” she said.

    Lees ook:

  • VinFast to produce batteries for electric cars in Vietnam

    VinFast to produce batteries for electric cars in Vietnam

    Automaker VinFast has signed a memorandum of understanding on strategic cooperation with Taiwan’s ProLogium Technology Co.. Ltd. on production of batteries for electric cars in Vietnam.

    Under the MoU signed Wednesday, the two parties will set up a joint venture to manufacture solid-state batteries for electric cars. The joint venture will be licensed to use ProLogium’s patented solid-state battery pack assembly technology.

    This is a strategic step for VinFast in mastering battery technology for electric vehicles, laying a foundation for its research and development of smart and advanced electric vehicles in the future.

    Founded in 2006, ProLogium is the world’s leading solid-state battery maker. In 2017, ProLogium became the first company in the world to have a test line for solid-state battery technology for automotive applications.

    Its solid-state batteries have passed safety tests in Europe and China, which are the world’s largest electric vehicle markets.

    It is also cooperating with large electric cars manufacturers to test a new battery technology and expects to deploy it for mass-production in 2023-2024.

    By using solid-state batteries, VinFast electric cars will be able to go longer distances, reduce charging time, and increase the total number of times they can be charged.

    VinFast’s partnership with ProLogium is a part of its plan to become a global smart electric car brand.

    In January, VinFast introduced three new electric self-driving car models. It is also setting up electric charging stations nationwide, aiming at 40,000 charging ports for electric bikes and cars by the end of 2021.

    VinFast sold 31,500 cars in Vietnam last year. Since entering the auto industry three years ago the company now has a plant in the northern province of Hai Phong and R&D centers in Australia, Germany and the U.S.

    Lees ook:

    Lees ook:

  • VinFast eyes global market, to open car plant in US

    VinFast eyes global market, to open car plant in US

    VinFast plans to set up an automobile plant in the U.S. as part of its strategy to start selling there in 2022, Bloomberg reported on Tuesday.

    The company, a subsidiary of conglomerate Vingroup, did not provide details about when it will be set up or where.

    Bloomberg quoted its CEO Thai Thanh Hai as saying: “VinFast’s vision is to become a global smart electric car company and the U.S. is one of the first international markets that we will focus on.

    “We will initially develop high-end models for the U.S.”

    The company also plans to open 35 showrooms and service centers this year in California state where it has received a license to test autonomous vehicles on public streets.

    Malaysian newspaper The Star quoted Hai as saying VinFast believes it can win over American and other overseas customers leery of buying an automobile from a Vietnamese company they know little or nothing about by offering top-quality vehicles with high safety standards and advanced technology.

    The company has R&D centers in Australia, Germany and the U.S.

    VinFast, founded by Vietnam’s first billionaire Pham Nhat Vuong, began selling cars with BMW-licensed engines in 2019.

    Last year it sold 31,500 units, all in Vietnam, where 296,634 cars were sold in all.

  • VinFast eyes 2,000 electric charging stations

    VinFast eyes 2,000 electric charging stations

    Automaker VinFast plans to have over 2,000 charging stations set up nationwide this year to expand its electric vehicle ecosystem.

    The subsidiary of Vietnam’s largest private conglomerate, Vingroup, is looking to partner with other businesses to install these stations in apartment buildings, offices, malls, supermarkets, and other locations.

    It said in a statement that these stations will have over 40,000 charging ports for cars and bikes. The company installed the first of those last month at a mall at Vinhomes Ocean Park in Hanoi’s Gia Lam District.

    Also last month, VinFast announced three electric self-driving SUVs would hit the market this year.

    The company has acquired licenses to test autonomous vehicles in California, the U.S., which is earmarked to be its first global market.

    VinFast sold 31,500 cars in Vietnam last year. Since entering the auto industry three years ago the company now has a plant in the northern province of Hai Phong and R&D centers in Australia, Germany and the U.S.

    Lees ook:

    Lees ook:

  • VinFast introduces self-driving car models

    VinFast introduces self-driving car models

    Vietnamese automaker VinFast introduced Friday three new electric self-driving car models that will hit the market this year.

    The rollout of the new models is part of its plan to become a global major in electric car manufacturing.

    Two of the three models, all SUVs, also have a fuel version, the company said in a release.

    The cars, named VF31, VF32, and VF33, have several self-driving systems including steering assistance, adaptive lane control, and automatic parking.

    Depending on the model, the electric cars can go 300-500 kilometers per full charge.

    The premium versions of these cars have 14 cameras capable of detecting objects nearly 690 meters away, and the company claims its self-driving system is eight times faster than that of existing self-driving car models.

    The cars can find their own parking spots and can be summoned by drivers when needed.

    VinFast said the cars meet the highest safety standards in the world including a five-star rating of the U.S. National Highway Traffic Safety Administration and a five-star rating of the European New Car Assessment Programme.

    The standard version of the VF31 can be ordered in Vietnam starting this May and will be delivered in November.

    For the VF32 and VF33 models, customers can order starting September and delivery will begin in February 2022.

    The company will also sell these cars in the U.S., Canada, and the E.U. with orders opening in November and delivery in June next year.

    VinFast, a unit of Vietnam’s biggest private conglomerate Vingroup, entered the auto industry three years ago. It has an auto plant in the northern province of Hai Phong and research and development centers in Australia, Germany, and the U.S.

    The company said the manufacturing of electric bikes, buses, and cars is part of its strategy to become a favorable hi-tech auto manufacturer in the global market and to help develop green transportation by reducing emissions.

    Lees ook:

  • Motorbike sales slump, blamed on pandemic

    Motorbike sales slump, blamed on pandemic

    Motorbike sales fell 16.6 percent to 2.71 million units last year, according to the Vietnam Association of Motorcycle Manufacturers.

    The industry group comprises five major companies, Honda, Piaggio, Suzuki, SYM, and Yamaha, who account for most of the market.

    Industry insiders said sales fell in double digits because of the Covid-19 pandemic, which hit people’s incomes.

    Although VAMM’s report did not list each company’s sales, Honda said it accounted for nearly 80 percent.

    Other brands not included in report were VinFast, Kymco, BMW Motorrad, Ducati, Harley-Davidson, Kawasaki, and others.

    In the second half last year several companies introduced.

    Lees ook:

  • Companies Carmaker VinFast posts $284 mln loss

    Companies Carmaker VinFast posts $284 mln loss

    Vietnamese automaker VinFast posted a loss of nearly VND6.6 trillion ($284 million) in the first half, up four times year-on-year.

    The subsidiary of Vietnam’s largest private conglomerate Vingroup saw owner’s equity rising 10.8 percent year-on-year to VND28.1 trillion ($1.2 billion) by the end of June. Its asset value by the same date was over VND100 trillion.

    Pham Nhat Vuong, chairman of Vingroup, had earlier said that losses were expected for both automaker VinFast and smartphone producer VinSmart over the next three to five years as they work to increase their market share.

    Vingroup recorded H1 revenues of VND6.58 trillion from cars, electric bikes and smartphone sales, triple that of last year.

    VinFast has recently entered the luxury market with its new SUV, VinFast President. The company sold over 5,100 cars in the first quarter to rank fifth among auto brands in Vietnam.

  • Vietnamese carmaking startup VinFast gets $950 million credit line

    Vietnamese carmaking startup VinFast gets $950 million credit line

    VinFast, which aims to become Vietnam’s first domestic car manufacturer, said it has secured a 12-year credit facility for as much as $950 million to help buy machinery and equipment from German suppliers.

    The company, a unit of Vietnam’s largest conglomerate Vingroup JSC, plans to have its first production models built under its own badge hit the streets next August. Vingroup has earmarked about $3.5 billion for the project.

    VinFast, led by former General Motors executive Jim DeLuca, showed off its BMW-based LUX A2.0 sedan and LUX SA2.0 crossover at the Paris auto show last week. Assembly is scheduled to begin next week year.

    Credit Suisse AG and HSBC were the lead arrangers and the financing agreement was guaranteed by German export credit agency Euler Hermes, Vingroup and Vinfast said in a statement.

    The statement also said that in August Vinfast completed syndication of a $400 million term loan facility led by four international banks.

    Lees ook:

    Lees ook: