Founded in 2017 from Hanoi, Vietnam, VinFast was founded by serial entrepreneur Pham Nhat Vuong — Vietnam’s first billionaire and started his business selling instant ramen in the Ukrainian market.
They plan to sell two all-electric sport-utility vehicles in the U.S. to start: a midsize SUV, called the VF 8, which starts at $40,700, and a larger VF 9, starting at $55,500. They plan to sell directly to consumers, bypassing traditional dealer networks (such as Tesla, Rivian and Lucid).
But most intriguingly, the company has developed a novel pricing strategy. According to the WSJ:
“Unlike other EV competitors in the US, Vinfast has a unique business model where buyers pay a price for the vehicle, but then lease the battery for a monthly fee. The company offers two battery-subscription plans, with prices ranging from $35 to $160 per month, depending on how much the owner wants to drive, model purchased and battery type.
The fee includes battery maintenance and replacement when the charging capacity drops below 70% of original capacity.
Vinfast says the battery leasing model lowers the upfront price of its vehicles by $15,000 to $20,000, roughly equivalent to what many gasoline-powered models sell for today. The company also said it eliminates risk for consumers as the service covers all repair, maintenance and replacement costs, including swapping the battery for a new one.”
Quite an interesting approach, worth seeing if it catches on.
For more information, see The Wall Street Journal, CleanTechnica, Gear Patrol, The Diplomat, and CleanTechnica.
Source: Gear Petrol
Source: The Diplomat
Source: Wall Street Journal