Categories: Environment

VinFast promises an electric at 10,000 euros, but should we believe it?

Plagued by financial problems and a complicated launch of some of its models, VinFast nevertheless wants to be optimistic and announces the arrival of a small electric car between 10,000 and 12,000 dollars.

After a rather “smashing” presentation of its products and great commercial ambitions, with in particular the acquisition of huge branches in certain places, such as in Lyon with the acquisition of a very large Opel dealership, VinFast’s meteoric rise seems to be stalling.

It must be said that the Vietnamese brand, which wanted to follow Tesla’s example in a way, has gone all out with its products, as evidenced by the VF8 and VF9 SUVs. Unfortunately, the first media coverage was not as good as expected. It is therefore difficult to justify such high prices when the product does not come close to a model from a European brand at the same price.

Not profitable so soon?

In France, the VF8 starts slightly under 51,000 euros in the basic model, while the VF9 claims more than 90,000 euros. The good point is that according to the VinFast website, the manufacturer quickly abandoned its offer with battery rental.

Despite everything, VinFast CEO Pham Nhat Vuong remains optimistic, even if the manufacturer should not be profitable for a few years.

Indeed, according to a member of the European Chamber of Commerce in Viet-Nam, there is still time to spend: “Vinfast will probably not be profitable for at least the next 5 years. According to the management committee, the amount to be compensated for the losses is more than 782.6 million dollars per year. »

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Reassure through communication?

At Vinfast’s recent annual general meeting, the CEO was reassuring and announced a recent increase in production and plans to sell 50,000 vehicles in 2023, while aiming for profitability as early as next year. He also announced an electric pick-up project and mentioned the development of a small electric car that would be sold between 10,000 and 12,000 dollars.

Indeed, in terms of communication too VinFast seems to be inspired by Tesla, except that the American manufacturer seems to be rather sure of its own when it announces a model, even if it should arrive a few years later.

It also remains to be seen whether this model will concern us in Europe, and if so, it will certainly not be sold at around 10,000 euros in base price due to the standards to be complied with, particularly in terms of safety, obviously involving additional costs which will be passed on to the final price.

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