The purchase option at the end of the lease, excluding tax, title, and government fees, is $22,194, plus a purchase option fee of $350. Founded in 2017, VinFast is a Vietnamese automotive manufacturer that is part of the larger Vingroup conglomerate. VinFast initially produced vehicles based on licensed technology from other automakers, but has since shifted its focus to electric vehicles. The company has expanded rapidly, entering the North American market in 2023 with plans to sell their vehicles in the US and Canada. VinFast aims to establish itself as a global player in the EV market, with a focus on affordability and technology.
The VinFast VF8 may not be ready for prime time
The company started out by contracting Italian design house Pininfarina to rebody existing vehicles, such as the BMW 5-Series and X5, as well as the subcompact Chevrolet Spark. Thanks in part to import duties on vehicles from outside Vietnam, VinFast’s first vehicles were local best-sellers. We had a chance to briefly drive a very pre-production version of the VF 8. From our limited experience, the cars appear well-built and potentially competitive. Our test model needed further tuning, especially with initial throttle application, but these are relatively easy modulations.
Overall, the VF8 exhibited many bugs to be worked on if the company wants sales success in the U.S. The next couple of years will be busy for the Vietnamese automaker. It is preparing to launch the VF 8 and VF 9 electric SUVs, followed by smaller electric SUV models like the VF 7 and VF 6, which it previewed this year at CES. VinFast recently invited Kelley Blue Book to its home country to see what the company is all about, tour its factories, and hear about its ambitious plans for introducing its cars to the United States. It’s rarer still when an all-new automaker arrives, builds a factory, and then begins building cars that people actually like and buy. When that new automaker is able to survive amid established, well-known competition.
VinFast chose Best semiconductor stock to become vertically integrated, making the vast majority of parts themselves. In addition to cars and SUVs, VinFast also produces e-scooters, e-buses, battery systems, and vehicle charging stations for Vietnam. However, VinFast’s path to becoming a purveyor of competitive EVs has been a bit bumpy, to say the least.
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Starting in 2024, buyers will have the option to buy the battery with the vehicle, but the company has not yet outlined prices. Establishment of VinFast’s state-of-the-art automotive manufacturing complex with globally leading scalability that boasts up to 90% automation in Hai Phong, Vietnam. But it’s not,” referring to the VF8’s starting price of over $50k. While NHTSA hasn’t yet rated the safety of the 2023 VF8, it has recorded two recalls and over a dozen complaints, which certainly doesn’t help. But the reviews we’ve read have been perhaps the most brutal we’ve seen for a modern car. Motortrend called the VF8 “nowhere near ready for public consumption.” Inside EVs described riding in the VF8 as “unbearable.” These are not exactly promising signs.
Lease from $279/mo For 24 months, $0 down
We had a chance to tour VinFast’s factories, and they are indeed state of the art. They are also nearly brand new, built from scratch in less than two years’ time. And its modern factories in Vietnam appear to be only the beginning. The company recently announced it is investing $2 billion in a factory in North Carolina. That will enable VinFast to build cars here in America, too. Sign up here to find out more about the exceptional features crafted into every VinFast, and our mission to drive the world to switch to electric vehicles.
- Word of mouth is limited since the model is so new, and there aren’t many VinFast customers around to share their experiences.
- The Wild is an EV that features a mid-gate design that allows the interior to be opened up for additional cargo storage.
- In its home market, Vietnam, VinFast has become the top car seller, and globally, the brand has crossed one lakh vehicle sales in the first nine months of 2025.
- Both of the Lux vehicles were powered by traditional gas engines alone.
- The initial launch of the VF 8 SUV was widely criticized for poor build quality, software glitches, and unrefined driving dynamics.
Impressions from the VinFast VF8 first drive were a mixed bag. While the VF8 was nicely styled by Pininfarina, with prominent V elements front and rear, its design was not distinctive when compared to other vehicles of its type. The initial batch came with a smaller-than-standard battery which provided limited range, but aside from a 54-horsepower boost in the more powerful version, the two trim levels were nearly identical. Buyers who drive fewer than about 1,000 miles per month might opt to lease the battery at $35 per month for the VF 8 or $44 for the VF 9, which covers 310 miles of range per month. Additional miles cost $0.11 per mile in the VF 8 and $0.15 in the VF 9. VinFast launched three electric SUVs in 2021, announcing it would be shifting to an all-electric lineup going forward.
And there are plenty of bright spots to be found in reviews of the VF8, from its real-world range exceeding its EPA numbers to the spacious interior. But there’s no denying that the company has a steep climb ahead of it. VinFast still doesn’t have much brand recognition in America, and those who have heard of the company have probably heard bad things. Whether it will be around in ten years to honor the warranty offered for the VF8 remains to be seen.
What is VinFast? Here’s Everything You Need to Know
With a modern, unique design, equipped with outstanding smart technologies and features, strong and safe operation, VF 5 Plus fully converges the elements young users are seeking.
Having lots full of unsellable cars is not the way forward to future success. VinFast has shown the concept version of its new mid-size electric pickup truck, the VF Wild, at CES 2024 in Las Vegas. It was jointly designed with GoMotiv, an Australian design studio. The Wild is an EV that features a mid-gate design that allows the interior to be opened up for additional cargo storage. It could be released in 2026 and would compete with the mid-size Rivian R1T pickup.
VinFast changed its sales model – will it help?
They also have the VF3 which is a compact SUV that is only sold in Vietnam. VinFast’s potential strengths, at least on paper, include competitive pricing and aggressive expansion plans. The company aims to offer its electric SUVs at prices that undercut some competitors, potentially making EVs more accessible. VinFast also has ambitious plans for a US-based factory in North Carolina, signaling a long-term commitment to the market. Furthermore, they initially offered a 10-year/125,000-mile warranty, although that has been reduced to a still impressive 100,000 miles.
- A more recent example is Rivian, which sprung up to beat traditional brands such as Ford and Chevy to the punch by introducing its electric truck to market first.
- But VinFast will only be making electric vehicles for sale in the U.S., and while more and more EVs are showing up or planned every day, it’s still a segment that’s ripe with potential.
- Furthermore, they initially offered a 10-year/125,000-mile warranty, although that has been reduced to a still impressive 100,000 miles.
- We believe a sustainable future is only possible when everyone can enjoy access to smart, safe, and environmentally friendly EVs.
- Current pricing for the VF8 is $46,000 for the Eco trim, and $51,800 for the Plus.
Actual MSRP depending on the build, may vary and could affect your monthly lease payment. Cash due at signing includes $449 first month’s payment, $695 acquisition fee, $0 down payment and $0 security deposit. Not all customers will qualify for a security deposit waiver.
Word of mouth is limited since the model is so new, and there aren’t many VinFast customers around to share their experiences. Because of this, the VF8 was in dire need of stellar reviews from industry experts. Currently, the only VinFast model available in America is the VF8 compact SUV, which is in the same ballpark, size-wise, as the Ford Mustang Mach-E, Kia EV6, and Hyundai IONIQ 5. The VF9, a larger midsize SUV with three rows of seating, is due to arrive next, and VinFast is currently taking reservations.
Delivering the latest in technology innovation, the all-electric VF 8 mid-size SUV brings with it the most advanced enhanced driving, safety and entertainment features for your sustainable lifestyle. Announced prices are subject to change and do not include destination charge or any applicable tax, title, registration, and license fees. I understand that my consent is not a condition to purchase any product or service and that I can revoke my consent at any time. Please visit VinFast’s Privacy Policy for more information about our data handling practices and your privacy choices and rights. While the company noted that fewer than 1,000 units were sold in North America, another report stated that while VinFast had shipped 3,118 cars to the U.S., only 265 had been sold as of December 2023. It could be assumed that VinFast’s sales problem is tied directly to its quality and performance issues.