VinFast starts EV shipments to the US as Autonomy orders more vehicles

According to Reuters, Vietnamese electric vehicle (EV) maker VinFast announced on Friday that the first batch of 999 EVs is on its way to the US. The VF8 electric SUVs will be delivered to several retailers and the US EV subscription service Autonomy. 

Autonomy's first order from VinFast in August included 400 EVs, along with a total of 22,790 EVs from 17 different brands. Autonomy has now issued a new order of over 2,500 EVs, consisting of VF 8 and VF 9. Deliveries are to begin within the next twelve months, according to Electrive. 

The new order signifies the rapid penetration of VinFast in the US EV market, as the Vietnamese company grabs second place in Autonomy's orders, behind General Motors (3,400) and ahead of Volkswagen (2,200). 

The prospects are high for VinFast in the US market, as the EV maker revealed the plans for the North Carolina factory back in March and shipping 5,000 VF 8s to the US, Canada and Europe starting this month. The North Carolina plant is expected to manufacture EVs by 2024 and employ 7,500 people by 2027. 

According to the company, the global orders for VinFast EVs have reached almost 65,000, which plans to sell 750,000 EVs annually in 2026. 

VinFast's contribution to the US EV market also plays a crucial role in the mineral wars. The Inflation Reduction Act (IRA) requires automakers to supply 40% of rare minerals for batteries from North America or countries with free trade agreements with the US. The ratio will increase by 10% annually and reach 80% by 2026. According to Forbes, the IRA also requires half of EV battery components to be produced in North America by 2023, and this ratio is to reach 100% by 2028.

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Image: VinFast