VinFast to build U.S. battery factory in all-electric transformation:
SAN FRANCISCO — Vietnam's VinFast plans to build electric vehicle battery cells and packs in a new U.S. manufacturing complex, its global chief executive told Reuters, as the company pledged to transform itself into an all-electric automaker by the end of this year.
VinFast, part of Vingroup JSC, the largest conglomerate in the Communist-ruled country, became the country's first full-fledged domestic car maker when gasoline-powered models built under its own badge hit the streets in 2019. The company, which began selling EVs in Vietnam at the end of 2021, said in a statement on Thursday it planned to become what it said would be the first car company to cease making gasoline-powered cars and transition to all-electric vehicle production from late 2022.
"We will build our gigafactory in the U.S. as well," Le Thi Thu Thuy, Vingroup vice chair and VinFast Global CEO said, referring to the new battery facility in an interview during her U.S. visit to attend the Consumer Electronics Show in Las Vegas.Thuy said VinFast will initially assemble battery packs with cells sourced from its supplier at its U.S. complex before starting its own production there.
In December, Vingroup said it had started building a battery cell plant in Vietnam. The company is looking to initially produce 100,000 battery packs per year, with $174 million in investment, and then upgrade capacity to one million.The company said prices for its VF8 sport utility vehicle started from $41,000 in the United States, and that it would apply blockchain technology to record orders and confirm ownership. By comparison, a Tesla SUV sells for around $50,000.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
VinFast Unveils VF5, VF6, and VF7 Electric SUVs At CES, Announces Pricing For VF8 And VF9 | CarscoopsVinFast Unveils VF5, VF6, and VF7 Electric SUVs At CES, Announces Pricing For VF8 And VF9 | Carscoops carscoops
Read more »
GM teases electric versions of its Chevy Blazer and Equinox SUVs | EngadgetChevy has revealed plans for Blazer and Equinox EVs — and the Equinox could start at just $30,000..
Read more »
Walmart is expanding its direct-to-your-refrigerator deliveriesThe company also plans on building an all-electric fleet of delivery vans.
Read more »
Vinfast unveils 5 EVs at 2022 CES, confirms pricing for first US-bound modelsVietnam's Vinfast is entering the U.S. with the VF8 and VF9 electric crossovers due in late 2022.
Read more »
Chrysler previews its all-electric future with Airflow concept SUVThe iconic American brand will only sell electric vehicles by 2028.
Read more »
Mercedes-Benz’s New All-Electric EQXX Concept Is More Aerodynamic Than a FootballThe new luxury sedan concept will also travel 621 miles on a single charge, according to the automaker.
Read more »