VinFast is about to launch a super small electric car

Mr. Pham Nhat Vuong said VinFast is considering launching a line of super-compact electric vehicles, aiming to cover all product segments.

This information was shared by Mr. Pham Nhat Vuong, Chairman of the Board of Directors of Vingroup Corporation, at the annual meeting this morning (May 17). This billionaire said that one of VinFast's goals is to become the leading electric vehicle company in the market in terms of coverage in product segments.

Mr. Vuong has not revealed any specific information about the upcoming car model, but said it is a "super small, low-cost car" that could appear at the end of 2024. VinFast said it will officially announce this car model in a few weeks.

The "super small car" that Mr. Vuong mentioned is equivalent to sub-compact models in foreign markets, which means it is smaller than A-class cars like Morning or i10.

Currently, VinFast's product line is all electric vehicles, with the smallest model being the VF 5, priced at 458 million VND (excluding battery) or 538 million including battery. The market has not had any genuine electric vehicle model that is smaller and cheaper. Most recently, in the second quarter, TMT will launch the Wuling Hongguang Mini EV , with an expected price of around 200-300 million, on sale at the end of this year.

If VinFast's new model, expected to be called VF 3, is launched, there will be two options in this segment. One is the new product line of the Vietnamese car company, the other is the best-selling mini electric car in China and the world last year. With this super small car, the charging option is usually just plugging directly into a household power source, not requiring a common charging system like larger cars.

VinFast's product range currently ranges from VF 5 to VF 9 , of which VF 5, VF 8 and VF 9 have been sold, VF 6 and VF 7 are new concepts. Previously, VF e34 was sold but this model is only for the Vietnamese market.

With a product line of all high-chassis vehicles, Vingroup's Chairman said that VinFast has no intention of making sedans because the demand for this vehicle line is decreasing, sales are getting lower and lower and cannot be compared to high-chassis models. With some new vehicle lines, such as electric trucks, he said that if the market has demand, VinFast will research. "What the market has demand for, with the goal of becoming the world's leading car company, VinFast will not ignore," said Mr. Vuong.

In response to shareholders' questions about the possibility of sharing VinFast's charging system with other electric car manufacturers, Mr. Vuong said "it will be shared after 10 years."

"After 10 years, VinFast will allow other companies to charge in the same system. There is no reason for the company to spend 500-700 million USD to build a charging system and then give that opportunity to competitors," said the Chairman of Vingroup.

The mini electric car playground is still the absolute playground of car manufacturers from China. Total sales of manufacturers from this country account for 95.6% of the entire segment, but they are mainly sold in the domestic market. SAIC is the name that dominates all other competitors with the Wuling Honguang Mini EV that is about to be sold in Vietnam. Meanwhile, Changan and Chery are competing fiercely for second place.

Total sales of "non-Chinese" brands in this segment are only 4.4%, for General Motors (GM), Mercedes, Renault-Nissan-Mitsubishi, Stellantis, Tata and Toyota.

(According to vnexpress.net)

Source link