VinFast, the Vietnamese electric vehicle (EV) manufacturer, made waves at the CES 2024 trade show in Las Vegas with the unveiling of its latest electric pickup truck prototype, named VF Wild. Additionally, the company announced plans to globally launch its compact-sized VF 3 model, previously targeted exclusively at the Vietnamese market.
The showcased VF Wild is positioned in the mid-size pickup category, presenting a glimpse into VinFast’s commitment to diversifying its EV portfolio. However, the company has not disclosed specific details regarding the rollout timeline or the expected driving range of VF Wild.
VinFast’s four-seater mini-electric SUV, VF 3, was initially designed for the Vietnamese market but will now be made available worldwide. The compact EV boasts a targeted driving range exceeding 125 miles per full charge, catering to the growing global demand for eco-friendly and efficient transportation solutions.
While the company did not provide a precise delivery timeline for the VF 3, it confirmed that reservations for the mini-EV would commence later this year. The first VF 3 deliveries in Vietnam are anticipated in the third quarter.
Founded in 2017, VinFast entered the EV market with its first deliveries in California in March last year. As of the third quarter of the same year, the company had sold approximately 21,200 units, with more than half of them being sold to its affiliate. VinFast’s management is optimistic about breaking even by 2025.
Despite the promising growth in its EV offerings, VinFast’s shares, which went public in 2023 after merging with a blank cheque company, were trading at $6.79 per share as of Monday. This marks a 33% decrease from its listing price and an 85% drop from the closing price on its IPO day.
VinFast’s ambitious expansion into the global EV market underscores the company’s commitment to innovation and sustainability, positioning itself as a key player in the rapidly evolving electric vehicle industry.
