VinFast announces it will cease production of internal combustion engine (ICE) cars and transition to all-electric vehicle production from late 2022

LAS VEGAS – During the VinFast Global EV Day at the Consumer Electronics Show (CES 2022), VinFast announced a new development strategy and revealed its complete electric vehicle lineup covering five segments.

Following its US debut at the 2021 LA Auto Show, VinFast is taking important steps towards a sustainable future of mobility as it is announcing it will stop producing vehicles with internal combustion engines (ICE) by the end of 2022. VinFast will focus research and development efforts on all-electric powertrains for their vehicles. This bold move makes VinFast one of the world’s first automotive companies to completely switch to pure electric, affirming its position as a leader in the global EV revolution.

Along with the commitment to becoming an all-electric carmaker, VinFast officially launched a range of fully-electric vehicles: three models debuted in the A-B-C segments, VF 5 (segment A), VF 6 (segment B) and VF 7 (segment C); and two models VF e35 and VF e36 in the D and E segments (introduced at the 2021 LA Auto Show) now renamed as VF 8 and VF 9. The removal of the “e” (electric) prefix in the names affirms the company’s consistent all-electric orientation.

VinFast at CES
VinFast revealed its full line up of electric vehicles at VinFast Global EV Day at CES

All five electric vehicles, with impressive and modern exteriors, were designed by world-renowned Italian design firms, Pininfarina and Torino Design.

The VF 8 and VF 9 models will be equipped with level 2+ Autonomous Driving features for the Eco and Plus versions and levels 3 – 4 for Premium versions. These models will also have smart features, including Smart Home, Mobile Office, In-car Shopping, In-car Entertainment, and many other convenient, advanced features that create an exhilarating experience for every journey and everyday life.

“VinFast envisions a sustainable future for people and the planet through green, clean and safe mobility. This is a future built on intelligent services, outstanding customer experience, and a deep care for the planet and future generations. VinFast is committed to innovative vehicle design, quality, and technology, along with excellent customer service. We even aspire to greater achievements – to be one of the leading electric vehicle manufacturers in the world while inspiring our customers to be boundless together and join hands in the electric vehicle revolution, creating a sustainable future for all,” said Madam Le Thi Thu Thuy, Vingroup Vice Chair and VinFast Global CEO.

At VinFast Global EV Day, the company also officially announced retail pricing and a groundbreaking reservation campaign for the VF 8 and VF 9 in the US, Europe and Vietnam.

The initial price for the VF 8 is 41,000 USD in the US; starting from 36,133 EUR in Europe and 961 million VND in Vietnam, while the VF 9 will initially be priced at 56,000 USD (US); 49,280 EUR (Europe) and 1.312 billion VND (Vietnam). Each VinFast’s EV comes with a warranty of 10 years or the first 200,000km (whichever comes first).

Notably, during the 3-month period from January 5 to April 5, 2022 (PST), VinFast will launch an exclusive membership program, called “VinFirst – Pioneer’s Gratitude to Pioneers”, offering early-bird reservation holders various rewards and benefits (see details in Appendix below).

VinFast is the first electric car company to apply blockchain technology to receive orders and confirm ownership. There will be many other future incentives for applicable customers in the US to join the VinFirst program. All early reservations can be refunded, gifted or transferred from April 6, 2022.

As well as sharing the pricing policy, VinFast announced an innovative battery lease program that will offer customers two subscription plans: “Flexible” (a minimum subscription fee for 300miles/500km per month, extra costs from the 301st mile/501st km) and “Fixed” (unlimited range). The total monthly cost for driving VinFast EVs is approximately equal to gasoline costs in each market. Furthermore, VinFast will cover all expenses on battery maintenance and will replace the owner’s used batteries for free when charging and discharging capacity falls below 70%.

The reservation campaign for VF 8 and VF 9 models officially begins at 5 PM PT on January 5, 2022 in Las Vegas, U.S.


Avatar photo
The EV Report

The EV Report is a digital platform dedicated to the global electric vehicle industry. It is a product of Hagman Media Group, and its mission is to inform, engage, and connect industry professionals and EV enthusiasts with relevant news and insights.