Tesla continuously reduces prices and receives incentives from the US government, making it difficult for other electric car companies to compete, VinFast has a move to reduce prices by about 50% when customers rent VF8 cars.
The first VinFast VF8 City Editions arrived in the US last December, and deliveries are initially expected to begin later that month. However, VinFast has delayed the delivery time to be able to update its latest software on this lot.
Although delays are rarely positive, this could be a wise move for the Vietnamese automaker because the electric crossover was initially expected to have a low range, reaching only 179 miles (288 km). A new software update increases the range to 207 miles (333 km), which is a welcome improvement, although it still falls short of some of its competitors.
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| VinFast VF8 City Edition in the US has an important software upgrade before delivering the car to customers who have ordered it |
Now, VinFast is ready to deliver cars to customers in the US through an event held in California on March 1 to mark "the new journey of the Vietnamese car company in the international market". For those unable to attend and receive their VF8 in person, VinFast will deliver the vehicle to their home or arrange for pickup at a local store.
"Our team has worked tirelessly to ensure VinFast cars meet the highest standards of quality that customers expect. The presence of VinFast electric cars on US streets in the coming days is a milestone in the coming days. This is an important milestone, accelerating VinFast's competitive journey in the US and abroad. After delivering cars in the US, VinFast plans to deliver electric cars in Canada, France, Germany and the Netherlands," said Ms. Le Thi Thu Thuy - Vice Chairman of Vingroup said.
Besides announcing that deliveries are about to begin, VinFast also launched an even more aggressive rental program. In January, 2023, VinFast announced that the first VF8 electric cars will be rented at a monthly cost of 599 USD, applicable for the first 24 months.
However, as of February 27, the price listed on VinFast's website shows that the 24-month car rental contract has been reduced to 399 USD/month. Notably, in an email to a group of potential customers, VinFast said that residents living in California who have made a deposit in advance can pay only 274 USD/month for the rental cost of VinFast VF8 electric car, equivalent to with a discount of 33% - 54% compared to the original published monthly car rental price.
VinFast VF8 has a rental price of 274 USD/month in the US
The move is the latest sign of increasing price competition among electric carmakers. Tesla slashed car prices globally by as much as 20% in January 2023, although it has raised prices for models and in some markets by a smaller margin since then.
VinFast VF8 Eco City Edition has an 82 kWh battery pack that powers a dual-motor four-wheel drive system that develops 349 hp and 500 Nm of torque. This allows the car to accelerate from 0-100 km / h in about 6.5 seconds.
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