Vietnamese EV maker VinFast remains optimistic despite challenging entry to U.S. auto market

It has been a situation for Vietnamese electrical conveyance shaper VinFast to ace the U.S. marketplace amid pugnacious contention and softening demand.

VinFast cut monthly lease prices for its archetypal U.S. buyers to $399, down from $599 per month. American rivals similar Tesla slashed prices to pull much customers and thrust sales, portion Lucid forecast lower-than-expected 2023 accumulation aft orders dropped.

But VinFast CEO remains affirmative connected the semipermanent request for EVs.

"I deliberation everyone agrees that the full manufacture oregon the full satellite is moving from interior combustion motor to EVs," CEO Le Thi Thu Thuy said connected CNBC's "Squawk Box Asia" connected Tuesday.

"And if you instrumentality that view, and if you look astatine the authorities successful each antithetic countries and and ideate however galore electrical vehicles request to beryllium connected the roadworthy successful the coming years, successful the coming decade, there's a batch of country for a batch of players successful the market," said Le.

She added that VinFast is entering the marketplace "with wide approaches" specified arsenic offering premium prime and accessibility for the wide marketplace without cutting corners successful cybersecurity and functional safety.

"We inactive person a batch to prove. It's a batch up of us," Le said.

Software problems delayed deliveries of VinFast's archetypal batch of cars to U.S. buyers from December 2022 until March 2023. But connected March 1, only 45 SUVs arrived retired of 999 EVs that were expected to beryllium delivered.

VinFast cars are besides presently ineligible for the $7,500 taxation recognition successful the U.S. due to the fact that they are not made successful the U.S., but are made successful Vietnam — which volition interaction their U.S. sales.

"Of course, successful the agelong run, we besides are pushing for the plants successful North Carolina and to marque definite that successful the future, our vehicles volition beryllium qualified for taxation benefits nether the IRA," said Le.

Le antecedently told CNBC that the steadfast is successful the final stages of obtaining permits for its manufacturing plant in North Carolina and that the works is connected way to commence accumulation successful 2024.

While the institution filed for an archetypal nationalist offering successful December, it has not yet launched its roadshow.

"For us, it's not astir raising monies but it's a batch astir making the institution much planetary and different firm purposes and the marketplace has been challenging arsenic you know," said Le.