VinFast plans promotions in response to Tesla price cuts

HANOI — Vietnam's electric-vehicle maker VinFast said on Thursday it will launch promotions to protect the market competitiveness of its models, a week afterVinFast, which started operations in 2019, is gearing up to expand in the United States, where it hopes to compete with existing automakers by offering two models, the VF8 and VF9, which have starting prices of $59,000 and $83,000, respectively.

The Vietnamese EV maker started to ship its first batch of 999 EVs to the United States in late November and aims to deliver them to customers this month, the spokesperson said. VinFast has said it has secured almost 65,000 orders globally and expects to sell 750,000 EVs annually by 2026. The automaker plans to build an EV plant in the U.S. state of North Carolina and is awaiting final regulatory approval from local officials.

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