VinFast Auto has signed agreements with 12 new dealers in the U.S., as the Vietnamese EV startup continues to broaden its distribution network and strengthen its presence in the world's leading automotive market.
The 12 new VinFast dealership stores are expected to begin opening in April, bringing the total number of VinFast dealers in the U.S. to 18, spanning across seven states: North Carolina, New York, Texas, Florida, Kansas, Connecticut and Kentucky. California, the state with the highest EV adoption rate in the U.S., already has 15 operational VinFast stores and service centers.
The new dealerships will start selling the VF 8 model, a two-row fully electric SUV, followed by the VF 9 and VF 7, which will launch soon. VinFast's customers will get a 10-year/125,000-mile warranty for the vehicle and a 10-year unlimited mileage warranty for the battery under standard use.
VinFast's parts distribution center is ready to support dealers nationwide to guarantee consistent quality of maintenance and repair for customers. Authorized dealers submit requests to a dedicated system, and such requests are processed and delivered regularly.
"Leveraging the network of stores, market experience and capabilities of leading U.S. dealers, VinFast will quickly deliver high-quality, competitively priced electric vehicles to consumers, along with outstanding after-sales policies," said David Duncan, vice president of sales and marketing at VinFast U.S. "This establishes a solid foundation for VinFast's strong growth in the U.S. market."
In the fourth quarter of 2023, VinFast shifted from the direct-to-consumer distribution model to a hybrid model with a focus on building dealership networks in the U.S. and globally. Sales through dealers are expected to contribute significantly to the company's sales in the second half of 2024.
In addition to key markets such as the U.S., Canada and Europe, VinFast is expanding into countries in Asia such as India, Indonesia, Thailand and the Philippines, as well as in the Middle East and Africa. Outside of Vietnam, VinFast is also aiming to accelerate the construction of EV manufacturing plants in the U.S. and India, with plans to establish an additional plant in Indonesia.
In July 2023, VinFast broke ground on its first production facility outside of its native Vietnam in Chatham County, NC, where it expects to start production by 2025. The $4 billion facility is funded in part by taxpayers through a state incentive package that could reach $854 million over 32 years if the company achieves its investment and hiring goals, which include 7,500 jobs at the plant by 2027. Chatham County is expected to contribute another roughly $400 million.
