VinFast Adds Electric Pickup Truck to Ambitious Product Lineup

VinFast, a Vietnamese electric vehicle (EV) startup, is making waves in the industry with its latest concept car, the VF Wild. The company unveiled this new electric pickup truck at CES 2024 in Las Vegas, joining the competitive market of mid-size trucks. This move marks VinFast’s attempt to expand its product lineup and presence globally.

VF Wild: A Concept Car or a Production Model?

The VF Wild is an electric pickup truck with dimensions similar to those of a mid-size truck. One of its notable features is a folding mid-gate, which allows the five-foot bed to transform into an eight-foot bed when the rear seats are folded down. However, VinFast has not provided any information on the range, pricing, or production timeline for this vehicle.

The company’s CEO, Pham Nhat Vuong, announced that VinFast would start selling its smallest EV, the VF3, globally. The VF3 is a two-door city car with limited range and an affordable price tag (sub-$20,000). While there is no information on which countries will be first to receive the global launch of the VF3.

VinFast’s Ambitious Plans

Developing a truck and launching a compact EV globally are just part of VinFast’s ambitious plans. The company is also building factories in North Carolina, Indonesia, and India, indicating its intention to expand its production capacity and reach new markets. Multiple other models are reportedly in the works, further solidifying VinFast’s position as a major player in the EV industry.

A History of Pivoting and Growth

VinFast was founded in 2017 by Pham Nhat Vuong, Vietnam’s richest man. Initially, the company built combustion-engine vehicles but quickly shifted focus to electric vehicles (EVs). The VF8 SUV was one of its first models, which VinFast attempted to bring to the United States market. However, the rollout did not go smoothly, with the vehicle receiving poor reviews.

A Global Presence

Despite struggling in the US market, VinFast has managed to sell a significant number of EVs globally. A large portion of these sales were to a taxi company owned by Vuong himself. In a recent shakeup, Vuong took over as CEO of VinFast, marking the latest change in leadership across its various divisions.

A Path Forward for VinFast

The unveiling of the VF Wild and the announcement of global sales for the VF3 indicate that VinFast is committed to expanding its presence in the EV market. While it’s difficult to predict the success of these new models, one thing is certain – VinFast will continue to be a major player in the industry.

Key Takeaways:

• The VF Wild, an electric pickup truck concept car, was unveiled at CES 2024 by VinFast.
• VinFast plans to launch the VF3 globally, with no information on which countries will be first to receive it.
• The company is building factories in North Carolina, Indonesia, and India, indicating its expansion plans.
• Multiple other models are reportedly in development for VinFast.

VinFast’s Place in the EV Market

As a relatively new player in the electric vehicle market, VinFast has managed to make a significant impact. With a focus on affordable prices and limited range, the company aims to appeal to a broad audience. The unveiling of the VF Wild and the announcement of global sales for the VF3 demonstrate VinFast’s commitment to expanding its presence globally.

A Future in Electric Vehicles

The future of electric vehicles looks bright, with many companies investing heavily in this space. As governments worldwide push for cleaner transportation options, EV startups like VinFast will continue to play a significant role in shaping the industry.