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The EV maker plans to deliver approximately 3,000 EVs to France, Germany, and the Netherlands in the fourth quarter of 2023, as the EU contemplates imposing import tariffs on Chinese EV competitors, according to a recent Reuters report. VinFast’s CEO Le Thi Thu Thuy revealed that the company anticipates introducing its VF8 models in France, Germany, and the Netherlands in Q4 this year. "Other models like the VF6, VF7, and VF9 are slated for a 2024 launch," she added. “Thuy did not indicate the number of VF8 sport utility vehicles (SUVs), but a person familiar with the matter said it would be around 3,000 vehicles, including some for Israel,” Reuters wrote. This move marks a significant growth target, with the company aiming to quadruple its European sales volume, a considerable jump from its earlier modest target of 700 EVs. The EU's stringent scrutiny of Chinese EV makers and the anticipated imposition of import tariffs could present a lucrative opening for VinFast. If the … [Read more...] about VinFast eyes Europe expansion amid potential EU tariffs on Chinese EVs

Under the plan, about 3,000 of its VF8 crossovers would be delivered to France, Germany and the Netherlands in the fourth quarter of this year from VinFast's factory in northern Vietnam, a person familiar with the plan told Reuters. The source declined to be named because these details were not yet public. The Nasdaq-listed company's plan to expand into Europe would represent a four-fold increase from a previous unmet target of delivering 700 cars by last July, and comes as the EU probe into Chinese EV makers creates a possible gap in the market. If fulfilled, Europe could become VinFast's biggest overseas market this year. The company had shipped about 2,100 EVs earlier this year to the United States and planned to ship more VF9 models, according to its first filing to the U.S. Securities and Exchange Commission (SEC) after the listing. "We expect to deliver the first VF8 models to French, German and Dutch customers in the fourth quarter of this year," Le Thi Thu Thuy, VinFast's … [Read more...] about Vietnam’s VinFast to deliver EVs to Europe this year as EU probes China rivals

Most of the vehicles were sold to GSM, a newly established subsidiary that leases electric cars and motorbikes and operates electric taxis. GSM had received some 7,100 electric cars by the end of the second quarter. It has a deal to buy 200,000 electric motorbikes and 30,000 electric cars. VinFast also sold 10,182 electric motorbikes in the second quarter, up 4%. As of June 30, it had 122 showrooms for cars globally and 245 for motorbikes. The company has announced plans to expand into Indonesia, Malaysia, India, and the Middle East. Currently, it operates in three markets, Vietnam, North America and Europe. Entering other Asian countries would be an important milestone in the company’s global business development strategy, it has said. In documents filed with the SEC, it has identified Indonesia as an important market for establishing electric vehicle and battery manufacturing facilities due to its relatively low costs and availability of raw materials. VinFast … [Read more...] about VinFast delivers over 9,500 cars in Q2