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Vietnam carmaker Vinfast eyes start of U.S. deliveries in late 2022, CEO says

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Oct 14 (Reuters) – Vietnamese automaker Vinfast will start taking pre-orders in the U.S. marketplace for its VF e35 and e36 electrical SUVs in the primary half of 2022 and expects to start delivering them by the top of the 12 months, world Chief Executive Michael Lohscheller stated.

“It’s still early to make any sales predictions, but VinFast will unveil two of our latest EV models, which are VF e35 and VF e36, at the 2021 Los Angeles auto show this November, thus marking our official introduction to the American market,” he stated in an electronic mail to Reuters.

The firm expects to start delivering its first EVs in Vietnam beginning in December, stated Lohscheller, a former Volkswagen(VOWG_p.DE) and Opel govt who was named to his place at Vinfast in July.

The car arm of Vietnam’s largest conglomerate, Vingroup (VIC.HM), Vinfast has an workplace in California and expects to inaugurate 60 U.S. showrooms subsequent 12 months, he stated.

Vinfast has grand ambitions to launch EV gross sales in the U.S. and European markets subsequent 12 months, taking up Tesla (TSLA.O) and different automakers. Funding that plan is Vingroup, which was based as an immediate noodle enterprise in post-Soviet Ukraine and now has pursuits spanning actual property, resorts, faculties, hospitals and smartphones.

Founded in 2017, Vinfast is aiming to compete on automobile measurement and worth. The carmaker’s automobiles may even include a battery leasing scheme meaning the fee of the battery, one of the most costly parts of an EV, is not going to be included in the ultimate worth.

VinFast, with an meeting plant in Vietnam, is planning to conduct most of its U.S. gross sales on-line. Lohscheller stated the corporate will “keep an eye on the possibility of a manufacturing facility in the U.S.”

The firm has focused world EV gross sales subsequent 12 months of 15,000 automobiles, down from its prior aim of 56,000 as a result of world semiconductor chip scarcity. learn extra

To fund its progress, Vinfast has stated it’s eyeing a public itemizing in the United States.

“VinFast has a plan for an IPO in the U.S., but specific timing will depend on the market and other conditions,” Lohscheller stated. “We will reveal more information at an appropriate time in the future.”

Reporting by Ben Klayman in Detroit; Editing by Steve Orlofsky

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Workers at Vinfast's auto plant on the occasion of its opening ceremony in Hai Phong city, Vietnam June 14, 2019. REUTERS/Kham/File Photo/File Photo

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