Vietnam's EV maker VinFast set to break ground on delayed U.S. factory

Le acknowledged that there's expanding contention successful the U.S. market.

"We deliberation that there's inactive a batch of country for caller players. I deliberation the U.S. consumers are unfastened to caller players, arsenic agelong arsenic we person bully prime products," said Le.

VinFast entering the U.S. EV marketplace means it volition person to spell up against Tesla and BYD, arsenic good arsenic accepted automakers progressively focusing connected hybrids and EVs.

But crucially, the electrical vehicles produced astatine VinFast's caller installation could suffice for up to $7,500 successful U.S. taxation credits. VinFast vehicles bash not presently suffice due to the fact that they are not built successful the country, but are built successful Vietnam.

The institution is besides pricing its VF 9 exemplary astatine a sizeable discount to the comparable Tesla Model X. Prices for VinFast's VF 9 are expected to statesman astir $85,000 for the Eco model, according to Motor Trend. A Tesla Model X costs astir $100,000.

"Our strategy from the opening has ever been providing premium prime products astatine affordable pricing, coupled with fantabulous lawsuit service. So we enactment existent to that strategy," said Le.

"We are the lone 1 successful the marketplace that person a lineup of vehicles from precise tiny metropolis vehicles similar $12,000 vehicles to full-size three-row SUVs similar the VF 9 that volition spell to marketplace successful the U.S. aboriginal this year."

VinFast's U.S. enlargement has faced hurdles, including delayed deliveries to its archetypal customers owed to a bundle contented successful May. The institution besides reduced its U.S. headcount successful February.

"We [recalled] the vehicles due to the fact that the screens could perchance spell blank for a second. So we updated our bundle implicit the aerial to to hole the issues retired of precaution. We announced that we [recalled] the vehicles but that was conscionable a bundle update," Le said.

In May, the steadfast announced that it plans to list successful the U.S. via a merger with peculiar intent acquisition institution Black Spade Acquisition Co.

— CNBC's Penny Chen contributed to this report.