Vietnamese automaker, VinFast will stop producing cars with internal combustion engines by the end of this year and focus research and development efforts on all-electric powertrains for their vehicles. 

This bold move makes the automaker one of the world’s first automotive companies to completely switch to purely electric, affirming its position as a leader in the global electric vehicles (EV) revolution.

A range of fully-electric vehicles is on display at CES 2022. Photo: Vingroup

During the VinFast Global EV Day at the Consumer Electronics Show (CES 2022) on January 5 in Las Vegas, VinFast announced its new development strategy and revealed its complete electric vehicle lineup covering five segments.

Le Thi Thu Thuy, Vingroup Vice Chair and VinFast Global CEO said VinFast envisions a sustainable future for people and the planet through green, clean and safe mobility. This is a future built on intelligent services, outstanding customer experience, and deep care for the planet and future generations. 

“VinFast is committed to innovative vehicle design, quality, and technology, along with excellent customer service,” she said. “We even aspire to greater achievements - to be one of the leading electric vehicle manufacturers in the world while inspiring our customers to be boundless together and join hands in the electric vehicle revolution, creating a sustainable future for all.”

Along with the commitment to becoming an all-electric carmaker, VinFast officially launched a range of fully-electric vehicles: three models debuted in the A-B-C segments, VF 5 (segment A), VF 6 (segment B) and VF 7 (segment C); and two models VF e35 and VF e36 in the D and E segments (introduced at the 2021 LA Auto Show) renamed as VF 8 and VF 9. The removal of the "e" (electric) prefix in the names affirms the company's consistent all-electric orientation.

At VinFast Global EV Day, the company also officially announced retail pricing and a groundbreaking preservation campaign for the VF 8 and VF 9 in the US, Europe and Vietnam. 

The initial price for the VF 8 is US$41,000 in the US, 36,133 EUR and over in Europe, and VND961 million in Vietnam, while the VF 9 will initially be priced at $56,000 (in the US); 49,280 EUR (in Europe) and VND1.3 billion ($57,000) (in Vietnam). 

VinFast is the first electric car company to apply blockchain technology to receive orders and confirm ownership. There will be many other future incentives for applicable customers in the US to join the VinFirst program. All early reservations can be refunded, gifted, or transferred from April 6, 2022. 

Earlier, the fast-growing flagship Vietnamese manufacturer has led an $80 million Series D funding in StoreDot, the pioneer of extreme fast charging (XFC) battery technology for EVs as its plan to scale up manufacturing and deploy StoreDot's Extreme Fast Charging in future EV architectures.