There's an old journalistic adage, "When a dog bites a man is not news. News is when a man bites a dog." The announcement of another electric SUV for the U.S. market is almost reaching the point of yawn-inspired reaction. Tesla's Model Y and a few other eSUVs will soon face intense competition from the best of America, Europe, Japan, China, and Korea.
So, this week's announcement that another Asian manufacturer was planning on selling all-electric SUVs in the U.S. might not have even raised an eyebrow. But this "new" manufacturer's origin possibly invokes a doubtful and "from Vietnam?" response to the news. VinFast's entry into the U.S. is newsworthy for many reasons, starting with a multi-billion dollar war chest, notable achievements in its brief existence, and aggressive global marketing plans.
VinFast Founder Invests $2 Billion
VinFast was launched in 2017 by Phạm Nhật Vượng, the billionaire owner of Vingroup, Vietnam's largest private company. Automotive News reports that he invested $2 billion in the VinFast venture. A year later, VinFast displayed models at the Paris Auto Show with the help of BMW, Pininfarina, and Magna Steyr. In 2020, the company sold more than 20,000 ICE-powered cars in its home market while promoting an initiative for its electric vehicles' global sales. VinFast has assembly operations in Vietnam and engineering facilities in the U.S. and Germany. The company purchased GM's Vietnam assembly plant and the former Holden proving grounds in Australia.
Vinfast Promises Up To Level 4 Autonomous Driving
The company's eSUV launch announcement this week marks VinFast's first concrete public details about its plans for North America. According to company information, the midsize VF32 and standard-size VF33 electric SUVs will soon be available for order in the U.S. and Canada in November, with deliveries following in mid-2022. VinFast reports that the cars will support level 2-3 autonomous driving (according to the SAE scale) and are designed to produce five-star crash results for NHTSA safety testing. Level 4 autonomous driving capability will be available in top-trim levels of the vehicles. A third eSUV, the compact VF31, will launch at the end of the year only in Vietnam.
Two eSUV Models Promised For North America
Positioned as the company's flagship EV, the VF33 will be slightly longer than a Ford Explorer and feature two electric motors totaling 300 kW with a battery capacity up to 106 kW powering all four wheels. The range is estimated at 342 miles. The mid-tier VF32 will be about five inches longer than a Honda CRV. The standard model will come with one 150 kW electric motor (front- or rear-drive orientation was not made clear in company information). The premium edition will have AWD powered by dual electric motors totaling 300 kW and a 90 kW battery capacity. The premium edition range is estimated to be 313 miles. LG Chem is manufacturing the battery systems for VinFast.
Source: VinFast via translated vinfastauto.com
NEXT: This Is What Makes The Mini Cooper SE The Best Cheap New EV