RALEIGH – VinFast’s global expansion plans – from a new plant in Indonesia and another possibly in India with 50 markets in mind – continues to unfold in the U.S. as well
The Vietnam-based conglomerate that’s building an electric vehicle factory in Chatham County, says it also wants more dealers in the United States. In its latest announcement made Friday, VinFast (Nasdaq: VFS) says it intends “to start distributing its EVs through 125 points of sales nationwide with “hundreds of points of sale” by the end of next year.
Right now VinFast’s “Find Us” website shows a handful of dealer showrooms and service centers in California as well as charging centers as far east as Texas and Kansas.
However no locations are yet specified in North Carolina.
Interested customers can sign up for test drives at this VinFast site.
According to media reports, VinFast also may expand its planned product offerings in the U.S. to include the VF 3, what it calls “a mini electric car model.”
The company, which has sold few vehicles to date this year in the U.S., is talking with 27 dealers for third-party sales. It’s also secured financing for continuing financing even as losses have mounted.
But N.C. Gov. Roy Cooper recently told WRAL News he remains confident in the company’s future.
“I’m feeling very confident in VinFast. And just remember, you know, we have performance based incentives here. So they’ve got to actually create the jobs, and to be able to make sure they pay them the salary that they say they’re paying them,” he said.
“But this company is committed, they’re already working on this this site, they have strong leadership, they have strong financial backing.”
In a recent SEC filing, VinFast reported EV sales climbed 5.2% in the third quarter to just over 10,000 from some 9.500 in the second quarter. The company aims to sell 50,000 EVs this year.
“In 2023, VinFast expects to distribute VF 8 models through its distribution network, and will continue its offerings with the VF 9, VF 6 and VF 7 when these models launch in the market,” the company disclosed.
Steve Tran, CEO of VinFast North America, pointed out that the company’s goal is to make its vehicles “accessible to everyone.”
To reach customers, VinFast is adding parts distribution centers to boost sales and service support.
“Our mission is to make EVs accessible to everyone. That is why VinFast always strives to expand its business network, and to provide consumers with premium quality electric vehicles, attainable prices, and outstanding aftersales services,” Tran said. “Cooperating with dealers will help us shorten the time to bring products to market and to quickly meet the needs of U.S. customers.”
VinFast recently made some vehicles available for test drives in the Triangle area. What it calls “Pop-up Mobile Test Drives” also are to be held at “other targeted cities” as it did in Austin, Texas last week.