VinFast’s Ambitious Plan to Deliver 50,000 Electric Vehicles in 2023 Called ‘Unrealistic,’ Analyst Says

Vietnamese electric vehicle maker VinFast has set a target to deliver 40,000 to 50,000 vehicles in 2023, despite a weak global economy. However, an analyst believes this goal is unrealistic.

In 2022, VinFast sold 7,400 electric vehicles (EVs) exclusively in Vietnam. During the first half of 2023, the company delivered only 11,315 vehicles, with the majority sold to a related company. The low demand for VinFast’s EVs raises concerns about its ability to meet its ambitious delivery target.

Shares of Vingroup, VinFast’s parent company, have also seen a significant decline, reaching their lowest level since November 2017.

On the other hand, Tesla and XPeng, VinFast’s competitors in the US market, recorded much higher sales figures during the first half of the year.

VinFast, despite being a relatively new player in the global automotive market, aims to compete with established automakers worldwide. The company plans to expand its operations to Southeast Asian and Middle Eastern markets to boost production and sales.

Analysts have noted that VinFast’s EV models are not competitively priced compared to their competitors. For example, the VF9 model is priced higher than the Tesla Model X, which also qualifies for a federal tax credit in the United States.

VinFast’s pricing decision for the VF9 in the US market has been questioned, as more established competitors offer similar or better performance at a lower price. The company defends its pricing strategy, stating that experts have carefully researched and priced their vehicles.

Despite the challenges, VinFast expects to break even by the end of 2024, according to its founder.

Vietnamese electric vehicle maker VinFast has set a target to deliver 40,000 to 50,000 vehicles in 2023, despite a weak global economy. However, an analyst believes this goal is unrealistic.

In 2022, VinFast sold 7,400 electric vehicles (EVs) exclusively in Vietnam. During the first half of 2023, the company delivered only 11,315 vehicles, with the majority sold to a related company. The low demand for VinFast’s EVs raises concerns about its ability to meet its ambitious delivery target.

Shares of Vingroup, VinFast’s parent company, have also seen a significant decline, reaching their lowest level since November 2017.

On the other hand, Tesla and XPeng, VinFast’s competitors in the US market, recorded much higher sales figures during the first half of the year.

VinFast, despite being a relatively new player in the global automotive market, aims to compete with established automakers worldwide. The company plans to expand its operations to Southeast Asian and Middle Eastern markets to boost production and sales.

Analysts have noted that VinFast’s EV models are not competitively priced compared to their competitors. For example, the VF9 model is priced higher than the Tesla Model X, which also qualifies for a federal tax credit in the United States.

VinFast’s pricing decision for the VF9 in the US market has been questioned, as more established competitors offer similar or better performance at a lower price. The company defends its pricing strategy, stating that experts have carefully researched and priced their vehicles.

Despite the challenges, VinFast expects to break even by the end of 2024, according to its founder.

Vietnamese electric vehicle maker VinFast has set a target to deliver 40,000 to 50,000 vehicles in 2023, despite a weak global economy. However, an analyst believes this goal is unrealistic.

In 2022, VinFast sold 7,400 electric vehicles (EVs) exclusively in Vietnam. During the first half of 2023, the company delivered only 11,315 vehicles, with the majority sold to a related company. The low demand for VinFast’s EVs raises concerns about its ability to meet its ambitious delivery target.

Shares of Vingroup, VinFast’s parent company, have also seen a significant decline, reaching their lowest level since November 2017.

On the other hand, Tesla and XPeng, VinFast’s competitors in the US market, recorded much higher sales figures during the first half of the year.

VinFast, despite being a relatively new player in the global automotive market, aims to compete with established automakers worldwide. The company plans to expand its operations to Southeast Asian and Middle Eastern markets to boost production and sales.

Analysts have noted that VinFast’s EV models are not competitively priced compared to their competitors. For example, the VF9 model is priced higher than the Tesla Model X, which also qualifies for a federal tax credit in the United States.

VinFast’s pricing decision for the VF9 in the US market has been questioned, as more established competitors offer similar or better performance at a lower price. The company defends its pricing strategy, stating that experts have carefully researched and priced their vehicles.

Despite the challenges, VinFast expects to break even by the end of 2024, according to its founder.

Vietnamese electric vehicle maker VinFast has set a target to deliver 40,000 to 50,000 vehicles in 2023, despite a weak global economy. However, an analyst believes this goal is unrealistic.

In 2022, VinFast sold 7,400 electric vehicles (EVs) exclusively in Vietnam. During the first half of 2023, the company delivered only 11,315 vehicles, with the majority sold to a related company. The low demand for VinFast’s EVs raises concerns about its ability to meet its ambitious delivery target.

Shares of Vingroup, VinFast’s parent company, have also seen a significant decline, reaching their lowest level since November 2017.

On the other hand, Tesla and XPeng, VinFast’s competitors in the US market, recorded much higher sales figures during the first half of the year.

VinFast, despite being a relatively new player in the global automotive market, aims to compete with established automakers worldwide. The company plans to expand its operations to Southeast Asian and Middle Eastern markets to boost production and sales.

Analysts have noted that VinFast’s EV models are not competitively priced compared to their competitors. For example, the VF9 model is priced higher than the Tesla Model X, which also qualifies for a federal tax credit in the United States.

VinFast’s pricing decision for the VF9 in the US market has been questioned, as more established competitors offer similar or better performance at a lower price. The company defends its pricing strategy, stating that experts have carefully researched and priced their vehicles.

Despite the challenges, VinFast expects to break even by the end of 2024, according to its founder.

Vietnamese electric vehicle maker VinFast has set a target to deliver 40,000 to 50,000 vehicles in 2023, despite a weak global economy. However, an analyst believes this goal is unrealistic.

In 2022, VinFast sold 7,400 electric vehicles (EVs) exclusively in Vietnam. During the first half of 2023, the company delivered only 11,315 vehicles, with the majority sold to a related company. The low demand for VinFast’s EVs raises concerns about its ability to meet its ambitious delivery target.

Shares of Vingroup, VinFast’s parent company, have also seen a significant decline, reaching their lowest level since November 2017.

On the other hand, Tesla and XPeng, VinFast’s competitors in the US market, recorded much higher sales figures during the first half of the year.

VinFast, despite being a relatively new player in the global automotive market, aims to compete with established automakers worldwide. The company plans to expand its operations to Southeast Asian and Middle Eastern markets to boost production and sales.

Analysts have noted that VinFast’s EV models are not competitively priced compared to their competitors. For example, the VF9 model is priced higher than the Tesla Model X, which also qualifies for a federal tax credit in the United States.

VinFast’s pricing decision for the VF9 in the US market has been questioned, as more established competitors offer similar or better performance at a lower price. The company defends its pricing strategy, stating that experts have carefully researched and priced their vehicles.

Despite the challenges, VinFast expects to break even by the end of 2024, according to its founder.

Vietnamese electric vehicle maker VinFast has set a target to deliver 40,000 to 50,000 vehicles in 2023, despite a weak global economy. However, an analyst believes this goal is unrealistic.

In 2022, VinFast sold 7,400 electric vehicles (EVs) exclusively in Vietnam. During the first half of 2023, the company delivered only 11,315 vehicles, with the majority sold to a related company. The low demand for VinFast’s EVs raises concerns about its ability to meet its ambitious delivery target.

Shares of Vingroup, VinFast’s parent company, have also seen a significant decline, reaching their lowest level since November 2017.

On the other hand, Tesla and XPeng, VinFast’s competitors in the US market, recorded much higher sales figures during the first half of the year.

VinFast, despite being a relatively new player in the global automotive market, aims to compete with established automakers worldwide. The company plans to expand its operations to Southeast Asian and Middle Eastern markets to boost production and sales.

Analysts have noted that VinFast’s EV models are not competitively priced compared to their competitors. For example, the VF9 model is priced higher than the Tesla Model X, which also qualifies for a federal tax credit in the United States.

VinFast’s pricing decision for the VF9 in the US market has been questioned, as more established competitors offer similar or better performance at a lower price. The company defends its pricing strategy, stating that experts have carefully researched and priced their vehicles.

Despite the challenges, VinFast expects to break even by the end of 2024, according to its founder.

Vietnamese electric vehicle maker VinFast has set a target to deliver 40,000 to 50,000 vehicles in 2023, despite a weak global economy. However, an analyst believes this goal is unrealistic.

In 2022, VinFast sold 7,400 electric vehicles (EVs) exclusively in Vietnam. During the first half of 2023, the company delivered only 11,315 vehicles, with the majority sold to a related company. The low demand for VinFast’s EVs raises concerns about its ability to meet its ambitious delivery target.

Shares of Vingroup, VinFast’s parent company, have also seen a significant decline, reaching their lowest level since November 2017.

On the other hand, Tesla and XPeng, VinFast’s competitors in the US market, recorded much higher sales figures during the first half of the year.

VinFast, despite being a relatively new player in the global automotive market, aims to compete with established automakers worldwide. The company plans to expand its operations to Southeast Asian and Middle Eastern markets to boost production and sales.

Analysts have noted that VinFast’s EV models are not competitively priced compared to their competitors. For example, the VF9 model is priced higher than the Tesla Model X, which also qualifies for a federal tax credit in the United States.

VinFast’s pricing decision for the VF9 in the US market has been questioned, as more established competitors offer similar or better performance at a lower price. The company defends its pricing strategy, stating that experts have carefully researched and priced their vehicles.

Despite the challenges, VinFast expects to break even by the end of 2024, according to its founder.

Vietnamese electric vehicle maker VinFast has set a target to deliver 40,000 to 50,000 vehicles in 2023, despite a weak global economy. However, an analyst believes this goal is unrealistic.

In 2022, VinFast sold 7,400 electric vehicles (EVs) exclusively in Vietnam. During the first half of 2023, the company delivered only 11,315 vehicles, with the majority sold to a related company. The low demand for VinFast’s EVs raises concerns about its ability to meet its ambitious delivery target.

Shares of Vingroup, VinFast’s parent company, have also seen a significant decline, reaching their lowest level since November 2017.

On the other hand, Tesla and XPeng, VinFast’s competitors in the US market, recorded much higher sales figures during the first half of the year.

VinFast, despite being a relatively new player in the global automotive market, aims to compete with established automakers worldwide. The company plans to expand its operations to Southeast Asian and Middle Eastern markets to boost production and sales.

Analysts have noted that VinFast’s EV models are not competitively priced compared to their competitors. For example, the VF9 model is priced higher than the Tesla Model X, which also qualifies for a federal tax credit in the United States.

VinFast’s pricing decision for the VF9 in the US market has been questioned, as more established competitors offer similar or better performance at a lower price. The company defends its pricing strategy, stating that experts have carefully researched and priced their vehicles.

Despite the challenges, VinFast expects to break even by the end of 2024, according to its founder.