Vietnamese EV maker VinFast remains optimistic despite challenging entry to U.S. auto market
Publishing timestamp: 2023-03-08 00:27:24
Summary
Vietnamese EV maker VinFast is facing challenges in cracking the US market due to tough competition and softening demand. The company has cut monthly lease prices for its first US buyers and is entering the market with a focus on premium quality and accessibility for the mass market. However, VinFast's vehicles are currently ineligible for certain tax benefits in the US, and software problems have delayed deliveries. The CEO remains positive on long-term demand for EVs and is pushing for plants in North Carolina to qualify for tax benefits. The company has filed for an IPO but has not yet launched its roadshow.
Sentiment: NEUTRAL
Keywords: business news, tesla inc, lucid group inc, autos, u.s. economy, asia economy, technology, rivian automotive inc,
Source: https://www.cnbc.com/2023/03/08/vietnam-ev-maker-vinfast-us-auto-market.html