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Adding to these challenges is successfully Online Cigarettes Store USA manufacturing and selling electric vehicles. Many Chinese startups, backed by billions of dollars in funding, bet on the prospects for EVs in the world’s biggest auto market, but few are making money. BAIC BluePark New Energy Technology Co., China’s biggest maker of pure electric cars, forecasts a 2019 loss. Unprofitable NIO Inc., which is traded in New York, has struggled to assuage concerns that it’s running short on cash amid sputtering EV demand.
VinFast’s first EV won’t roll off its assembly line until late next year, but Vuong said he plans to export those vehicles Newport Cigarettes Shop to the U.S., Europe and Russia in 2021.
VinFast must clear several high hurdles to compete outside Vietnam, said Michael Dunne, chief executive officer of automotive consultant ZoZo Go LLC, which specializes in the Asian market. “It will be some time before the company is ready to compete in the U.S. -- still the world’s toughest market,” he said. “You need a solid brand name.”
Many consumers prefer a second-hand Honda Newport 100s Box Motor Co. or Toyota vehicle over a new car with an unfamiliar brand name, Dunne said. The Vietnamese automaker will need to produce at least 100,000 vehicles a year to be cost competitive, develop a global brand and establish a parts-and-services network, he said. Still, VinFast has an opportunity to crack smaller Southeast Asian markets, Dunne added.
VinFast, which operates a 335-hectare factory in the northern port city of Haiphong, is selling its first line of vehicles -- a hatchback, sedan and SUV -- at below cost. The hatchback retails for the equivalent of $17,000, while the four-cylinder sedan goes for $47,400 and its SUV is offered at $60,400. The company targets production of as many as 500,000 vehicles a year by 2025. The carmarker also makes electric scooters.
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