VinFast plans to deliver first VF8 in Europe before 2024

The Vietnamese electric car manufacturer VinFast has set a new target for the repeatedly postponed start of deliveries in Europe: In the fourth quarter of 2023, the first examples of the VF 8 are to be delivered to customers in Germany, France and the Netherlands, VinFast boss Le Thi Thu Thuy told Reuters. The other models, VF6, VF7 and VF9, are to be launched in Europe next year. The VF8 was originally targeted for the fourth quarter of 2022.

After the postponed date in the first quarter of 2023 could not be met either, the third quarter of 2023 was the latest target. How many electric cars VinFast will bring to Europe has not yet been officially confirmed. An insider told Reuters that initially around 3,000 VF 8s will be exported to Europe, including some examples for the Israeli market.

By the end of 2022, VinFast had officially started exporting its vehicles with the first batch of 999 VF 8s shipped to the US. VinFast’s now imminent expansion into Europe is part of a global growth plan that includes building new factories in the United States and Indonesia, and also targeting India, the Middle East, Africa and Latin America.

Meanwhile, VinFast has officially published business figures for the first time after its US IPO in August. According to the figures, the company delivered a total of 9,535 electric cars in the second quarter of 2023, more than five times as many as in the first quarter of 2023.

VinFast’s revenue amounted to 334.1 million US dollars in the second quarter of 2023, an increase of 131.2 percent compared to the second quarter of 2022 and 303.3 per cent compared to the first quarter of 2023.

The bottom line was a loss of 526.7 million US dollars from April to June 2023. This is 8.2 per cent less than in the same quarter last year and 11.2 per cent less than in the first quarter of 2023.

adwadawdvinfastauto.us, reuters.com