VinFast announces plan to switch to all-electric vehicle production

Vietnamese automaker VinFast announced on January 6 to stop producing internal combustion engine (ICE) cars and switch to all-electric vehicle production from the end of 2022 at the Consumer Electronics Show CES 2022 in Las Vegas, the US.

Along with the commitment to becoming a carmaker of this type, the company launched five electric vehicles including models VF 8 and VF 9 in the D and E segments, which were previously introduced at the 2021 LA Auto Show.

The exteriors of these cars were designed by Italian design firms Pininfarina and Torino Design.

On the day, VinFast also officially announced retail pricing and a reservation campaign for the VF 8 and VF 9 in the US, Europe and Vietnam. The initial prices for the VF 8 are US$41,000 in the US; EUR36,133 in Europe; and VND961 million (over US$42,200) in Vietnam. The figures for the VF 9 are US$56,000; EUR49,280; and VND1.312 billion.

Each VinFast's EV comes with a warranty of 10 years or the first 200,000km.

Established in 2017, the company is a member of Vietnam’s private conglomerate VinGroup.

In December last year, VinGroup’s construction of its VinES battery manufacturing factory costing VND4 trillion began in the central province of  Ha Tinh’s Vung Ang Economic Zone. The factory will be developed on 8ha in its initial phase, providing lithium batteries for VinFast’s electric cars and buses.