Vietnamese Carmaker Wants To Beat Tesla In America With A Unique Battery Leasing Model

Just like any other carmaker on the market, VinFast wants to produce electric vehicles. But they aim their target goal at the biggest rival – Tesla.  Becoming a major player in the EV space is the latest ground to conquer after revealing the luxurious sedan and SUV based on the BMW 5 Series and X5. Then, earlier this year, the company unveiled its first EV build specially for the North American market. 

The Vietnamese carmaker is amongst the five most popular brands in its country and has a sale plan with an unorthodox battery leasing scheme for its unique electric vehicles. As you’ve guessed already, the high cost of batteries for electric vehicles will have a separate cost from the EV itself. VinFast's leasing cost would not be higher than the motorist's average fuel bill per month.  

"I'm going to give you a better product. I'm giving you an SUV. I'm giving you a more spacious car," said CEO Nguyen Thi Van Anh. Van Anh will be relocating to Los Angeles to smooth the road onto the US car market. Reuters evaluated the VinFast US listing and valuation up to $60 billion. VinFast plans to produce and sell 45,000 vehicles each year in North America, and if the goal is reached it’ll become a direct competitor for Tesla.

To ensure fair competition they hired as their US Chief Growth Officer, Jeremy Snyder former Tesla employer One of the first models to reach the US dealerships would be the VF33 SUV boasting plenty of technology and luxurious interiors. The company's official launch in the USA and Europe is expected next year. More details will be revealed in 2022.