We thoroughly evaluate each company and product we review and ensure our stories meet our high editorial standards. We get to know the global juggernaut behind America’s next carmaker and take its first product, an all-electric SUV, for a spin. Mary Roeloffs is a Forbes reporter who covers breaking news with a frequent focus on the entertainment industry, streaming, sports news, publishing, pop culture and climate change. She’s covered Netflix’s hottest documentaries, a surge of assaults reported on social media, the most popular books of the year and how climate change stands to impact the way we eat.

Volkswagen Recalls Some ID.4 SUVs Over Rearview Camera Problem

Signage suggests our tests are to be capped at 80 kph (50 mph), but the engineer sitting in my passenger seat allows me to go far more quickly, touching 100 mph before braking hard into the left-handed keyhole. Being an EV, acceleration is predictably smooth, but with the 19-inch Goodyear Eagle Touring tires under load in the final turn, the steering’s power assistance has brief moments where it feels oddly nonlinear. It reported a loss of $1.4 billion for the nine months through last September. It also carried about $2.5 billion in debt as of the end of September, according to a regulatory filing. VinFast, an electric vehicle maker, enjoyed a red-hot debut in New York on Tuesday after merging with a special purpose acquisition company (SPAC), Black Spade Acquisition Co.

Will VinFast and its parent make more than just cars in the United States?

For one thing, this company has the financials to see things through. More to the point, Vingroup also appears to have a slew of helpful related technologies in its portfolio, including divisions focused on AI, cybersecurity and cloud computing. The organization even built a new university from scratch to cultivate homegrown talent. All of this illustrates that not only does this company have the resources to become a global automotive player, it develops businesses at a breakneck clip. At 28 years young, Vingroup is barely out of corporate adolescence.

Cash due at signing includes $249 first month’s payment, $695 acquisition fee, $0 down payment and $0 security deposit. Lessee responsible for insurance during the lease term, excess wear and tear as defined in the lease contract, $0.25/mile over 30,000 miles, plus disposition fee of up to $395 (not to exceed an amount permissible by law) at lease end. Through November 30, 2024, lease offer is available on the new 2024 VinFast VF 8 Plus model leased through VinFast Auto, LLC (offer subject to change based upon availability). The purchase option at the lease end, excluding tax, title, and government fees, is $23,850, plus a purchase option fee of $350.

Developing and selling cars is a hugely cash-intensive business, and automobiles are the world’s single most complex consumer goods, subject to the most numerous and varied global regulations and operating environments. It all adds up to a world where an overwhelming majority of intenders will fail, most without ever having delivered a single vehicle. At 187 inches long, 74.8 inches wide and 65.4 inches tall, the VF 8 is the same length as a and only around an inch separates their width and height. Interestingly, chief engineer Huy Chieu tells me that in developing the VF 8’s driving performance, the company recently benchmarked Hyundai’s excellent , a great bogey. Like many of his fellow executives, Chieu joined VinFast recently after decades in the business at established automakers (Chieu worked at General Motors from the late 1990s).

What cars does VinFast sell?

Additional miles cost $0.11 per mile in the VF 8 and $0.15 in the VF 9. It’s rarer still when an all-new automaker arrives, builds a web traderoom 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.

• Signage suggests our tests are to be capped at 80 kph (50 mph), but the engineer sitting in my passenger seat allows me to go far more quickly, touching 100 mph before braking hard into the left-handed keyhole.
• The organization even built a new university from scratch to cultivate homegrown talent.
• We get to know the global juggernaut behind America’s next carmaker and take its first product, an all-electric SUV, for a spin.
• Most are already finding out the hard way that car building is a terrible way to make money.
• VinFast is a household name in Vietnam, where its cars have become bestsellers and have access to an extensive charging network across more than 60 cities and provinces.

Cash due at signing includes $529 first month’s payment, $695 acquisition fee, $2,000 in down payment and $0 security deposit. Lessee responsible for insurance during the review: life insurance; (15th edition) lease term, excess wear and tear as defined in the lease contract, $0.25/mile over 20,000 miles, plus disposition fee of up to $395 (not to exceed an amount permissible by law) at lease end. Not all customers will qualify for a security deposit waiver.

In the wake of Tesla’s industry-shaking success and the future promise of electric, autonomous mobility, would-be electric car companies are sprouting up everywhere. The floodgates have opened, with the last decade seeing more startups get off the ground than at any time since the dawn of the automobile. Most are already finding out the hard way that car building is a terrible way to make money.

The enhanced-range Battery Version 2 Eco is slated to deliver 292 miles for $41, just $300 more. The more luxurious (and consequently heavier) VF 8 Plus is expected to achieve 248 miles of range in Battery Version 1 guise ($47,700) and 277 miles in its limefx $48,000 Battery Version 2 spec. US mileage estimates on the EPA’s more-stringent test cycle figure to be somewhat lower.

What is VinFast? Here’s Everything You Need to Know

The firm makes electric SUVs, scooters and buses, which are sold in Vietnam and North America. Vuong, the chairman of both Vingroup and VinFast, saw his own wealth soar by approximately $39 billion on Tuesday as shares of the carmaker shot up, according to the Bloomberg Billionaires index. Shares of the newly combined company skyrocketed 270% on the Nasdaq on their first day of trade. They opened at $22, more than double the initial price of $10, and closed at $37 apiece.

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. With a daringly futuristic design, the all-electric compact VF 7 combines dynamic exterior styling with a spacious, driver-focused, intelligent interior. 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.

Those investors currently own only 1% of the automaker, though. The sprawling Vietnamese conglomerate, VinGroup, owns the rest. Get the latest news on the best cars, best deals, and more.