VinFast said the 1,800-acre facility is designed to produce up to 150,000 vehicles a year in phase 1. The factory is expected to start operations in 2025.
But crucially, the electric vehicles produced at VinFast's new facility could qualify for up to $7,500 in U.S. tax credits. VinFast vehicles do not currently qualify because they are not built in the country, but are built in Vietnam.
The company is also pricing its VF 9 model at a considerable discount to the comparable Tesla Model X. Prices for VinFast's VF 9 are expected to begin around $85,000 for the Eco model, according to Motor Trend. A Tesla Model X costs about $100,000. "Our strategy from the beginning has always been providing premium quality products at affordable pricing, coupled with excellent customer service. So we stay true to that strategy," said Le.
"We are the only one in the market that have a lineup of vehicles from very small city vehicles like $12,000 vehicles to full-size three-row SUVs like the VF 9 that will go to market in the U.S. later this year."
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