Vietnam's VinFast ships first electric vehicles to U.S. customers
Buyerself.com, is a shopping platform where buyers can purchase products and services at their desired prices. It also serves as a tool for sellers to find real buyers by publishing purchase orders in their local areas or countries. With Buyerself.com, users can easily find buyers in their proximity and in their country, and can easily create purchase orders. Buyerself.com and our apps are available for download on iOS and Android devices, and can be signed up with a single email. Sign up now and start shopping for your desired products and services at your target prices, or find real buyers for your products with Buyerself.com. Sign up now and start selling
The Buyerself mobile application offers great advantages to its first users. Download and enjoy the benefits.
By Phuong Nguyen
HAI PHONG, Vietnam (Reuters) - Vietnam's electric vehicle maker VinFast said on Friday it had shipped its first batch of 999 cars to the United States, completing a five-year bid to develop a car manufacturing center in the Southeast Asian country for markets in North America and Europe.
The company said the first cars should be handed over to customers by the end of December.
VinFast chief executive Le Thi Thu Thuy said some of the VF 8 electric SUVs that will be delivered on Friday would be sent to US car subscription service Autonomy, but the majority would go to retail buyers who ordered the car.
Thuy said VinFast expects to ship a second batch of cars to the United States, its first export market, in January.
VinFast is in the process of building an electric vehicle plant in North Carolina awaiting final regulatory approval from local authorities.
Thuy said the company expects to start production at its North Carolina plant beginning in July 2024 and that electric vehicles built there would be eligible for incentives under the terms of the Inflation Reduction Act signed into law by US President Joe Biden.
The Inflation Reduction Act, as currently written, requires automakers to source 50% of critical minerals used in EV batteries from North America or U.S. allies by 2024, rising to 80% by the end of 2026.
Major automakers have said these targets are unrealistic and it wasn't immediately clear how VinFast would meet sourcing requirements.
"The IRA came as a surprise to all of us, but it doesn't really affect our strategy in the US," Thuy told Reuters. "Once we start manufacturing cars in the US, our customers will be eligible for the tax incentive."
VinFast said last week that Autonomy had ordered 2,500 electric vehicles, the company's largest order to date. According to VinFast, it has a total of almost 65,000 orders worldwide and expects to sell 750,000 electric vehicles annually by 2026.
The North Carolina plant project is months behind schedule according to the company's original goals, and the first shipment of electric vehicles built by VinFast fell short of the original goal of delivering up to 5,000 cars by December that will be in its plant were built in Haiphong.
VinFast officials said the number 999 was chosen for the vehicles delivered in the first batch because it is considered a lucky number in Vietnam.
"There is no happier number than 999," said Thuy. The Panama-chartered transport vessel that shipped the first shipment of VinFast electric vehicles had a capacity of up to 2,000 vehicles, officials said.
Shares of VinFast's listed parent company, Vingroup, which also operates real estate and resort development businesses, rose 5.41% on Friday morning.
(Reporting by Phuong Nguyen; Writing by Kevin Krolicki; Editing by Ed Davies and Edmund Klamann)
Chris Wilson tells court former friend Murdaugh confessed he was ‘stealing money’
Bengals RB Joe Mixon issued arrest warrant for allegedly pointing gun at woman; agent expects charge to be dropped
Here's why Israel, one of the toughest militaries, isn't arming Ukraine despite a global push to do so. It's got another fight in focus.
Can Josh Flagg Handle Co-Listing With Ex-Husband Bobby Boyd?
Tom Brady's Reportedly ‘Traumatizing’ Divorce From Gisele Bündchen May Have Influenced His Decision to Retire
Girl dug her way out of adoptive parents’ ‘basement dungeon’ to escape, NH lawsuit says