At the New York International Auto Show on Wednesday, VinFast revealed battery subscription prices for the two electric SUVs it aims to sell in the U.S. market by the end of the year.
The company invested $2 billion to build its first U.S. factory in North Carolina, and will give its customers access to a fast-charging national network. VinFast has mentioned other partnerships in the future.
VinFast sells its vehicles without the battery pack included in the price, as well as the VF 8, a 5-passenger SUV, and the VF 9, a 7-passenger SUV. Customers can lease the battery for a monthly fee that is based on how many miles they drive. The company believes that this model could help make its vehicles more accessible.
It has the potential to extend the lifespan of the vehicle. Taiwanese company Gogoro, which has recently gone public via a special purpose acquisition merger, has popularized its electric motorcycle and moped battery swaps in Taiwan due to the ease factor. Being able to replace batteries instead of the whole car can keep vehicles on the road longer.
It's not clear if adding this layer into the VinFast equation will make the whole process more confusing for EV buyers, especially if they're in a region where it's difficult to trade in a battery.
VinFast says that by the end of 2023, 50% of the battery will be for rent while the rest will be for sale with the purchase of the car. VinFast didn't respond to requests for clarification in time.
The company said on Wednesday that the VF 8 will cost anywhere from $40,700 to $48,000 depending on trim and battery pack. The VF 8 Eco version battery can go up to 292 miles on a full charge, and the Plus version can go up to 277 miles.
The VF 9 has a price range of $55,500 to $61,000. VinFast said the Eco version of the battery has a top range of .
It is not clear if the vehicle prices will be different for customers who choose to lease.
The VF 8 and VF 9 are both offered with a flexible plan of $35 per month for the VF 8 and $44 per month for the VF 9. The VF 8 and VF 9 will have a charge of $0.11 and $0.15 per extra mile, respectively.
The average person drives over 1,000 miles a month.
The fixed lease plan might be better for the average American driver. For $110 per month and $160 per month for the VF 8 and VF 9, customers can have unlimited miles. VinFast is currently freezing the monthly cost of the fixed plan over the vehicle's lifetime in order to encourage new orders.
VinFast separates the price of the battery from the acquisition value of the automobile to ensure a reasonable price for its products, while providing customers with peace of mind about the battery.
VinFast said it would provide a lifetime battery warranty that covers all maintenance and repair costs of the battery, and will replace the battery for free when charging capacity dips below 70%.
VinFast activated its VinFirst NFT exchange at the auto show. A global reservation program that began in January is using a new technology called theBlockchain to record orders and confirm ownership. Customers who make a deposit for their reservation will receive an NFT.
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