VinFast is a Vietnamese automaker selling electric vehicles in America

VinFast is an automobile manufacturer based in Vietnam, owned by the Vingroup conglomerate. The company entered the U.S. market in 2022 and sells battery-electric vehicles (EVs) — it does not make gasoline or hybrid cars. In the United States, VinFast currently offers two models: the VF8 (a mid-size SUV) and the VF9 (a larger three-row SUV). Both are sold through a direct-to-consumer model, meaning you order through VinFast's website or showrooms rather than through independent dealerships.

VinFast's U.S. operations are based in North Carolina, where the company has announced plans to build a manufacturing facility. Currently, vehicles sold in America are manufactured in Vietnam and shipped to U.S. ports. The company has received significant investment and tax incentives from several states, but it remains a newer entrant to the American market compared to established EV makers like Tesla, Chevrolet, and Ford.

Key Takeaways

  • VinFast manufactures only electric vehicles and currently sells two models in the U.S.: the VF8 and VF9 SUVs.
  • The company sells directly to consumers through its website and showrooms, not through traditional car dealerships.
  • VinFast vehicles are currently built in Vietnam and imported to the United States.
  • The company offers battery leasing as an alternative to purchasing the battery outright, which affects the total cost and warranty structure.
  • VinFast vehicles may be may be able to access for the federal EV tax credit, though may be able to access depends on assembly location and price thresholds that change annually.

How VinFast's battery leasing model works

Unlike most EV makers, VinFast offers customers the option to lease the battery separately from the vehicle. When you lease the battery, you pay a monthly fee (typically $60 to $120, depending on the model and lease term) and VinFast retains ownership of the battery pack. This approach lowers the upfront purchase price of the vehicle itself, since the battery is often the most expensive component of an EV.

If you choose battery leasing, VinFast covers battery degradation and replacement during the lease term — typically five, seven, or ten years. You own the vehicle but lease the power source. At the end of the lease, you can renew, purchase the battery outright, or return it. If you purchase the battery outright instead, you pay more upfront but own the entire vehicle and avoid monthly battery fees for the life of the car.

This structure is uncommon in the U.S. market. Most EV makers include the battery in the vehicle purchase and warranty it for eight to ten years. VinFast's leasing model can make the initial purchase price appear lower, but the total cost over time depends on how long you keep the vehicle and which lease term you choose.

VinFast's warranty and service network

VinFast offers a standard vehicle warranty of six years or 100,000 miles, whichever comes first. This covers defects in materials and workmanship. The battery warranty depends on whether you lease or own the battery. If you lease, VinFast covers battery degradation and replacement. If you own the battery, it is typically covered for eight years or 120,000 miles.

Service and maintenance are handled through VinFast's own service centers, not independent mechanics or dealerships. As of 2024, VinFast has service locations in several U.S. states, but the network is smaller than that of Tesla or traditional automakers. Before purchasing, check whether a service center is located near you, because out-of-warranty repairs and maintenance will need to be performed at a VinFast facility or through authorized partners.

VinFast also offers roadside information and a mobile service option in some areas, where technicians can come to your home or workplace for certain repairs and maintenance tasks.

Federal EV tax credit and VinFast may be able to access

VinFast vehicles may be may be able to access for the federal EV tax credit, which can reduce your federal income tax liability by up to $7,500. However, may be able to access is not automatic and depends on several factors that change annually. The credit requires that the vehicle be assembled in North America — currently, VinFast vehicles are built in Vietnam, which may disqualify them from the full credit or any credit at all, depending on the year and current regulations.

Additionally, the credit has price caps: if the vehicle's manufacturer's suggested retail price (MSRP) exceeds the cap, you cannot claim the credit. These caps vary by vehicle class and are adjusted each year. VinFast's pricing has sometimes exceeded these thresholds, particularly for the larger VF9 model.

Before purchasing, check the current IRS guidelines or speak with a tax professional about whether a specific VinFast model and trim level meets the requirements for that tax year. The rules change frequently, and what was ineligible one year may become may be able to access the next, or vice versa.

How to buy a VinFast vehicle

VinFast sells vehicles through its website and physical showrooms located in select U.S. cities. You can configure your vehicle online, choose your battery ownership option (lease or purchase), and place an order. VinFast will then assign a delivery date, typically several months out, since vehicles are manufactured in Vietnam and must be shipped to the United States.

The company offers test drives at its showrooms and also provides at-home test drive appointments in some areas. Financing is available through VinFast's preferred lenders, and the company occasionally offers promotional financing rates or incentives. You can also bring your own financing from a bank or credit union.

Delivery is handled by VinFast or a third-party logistics partner. The vehicle is typically delivered to your home or a nearby location, and VinFast staff will walk you through the vehicle's features and answer questions before you take possession.

Differences between VinFast and other EV makers

VinFast's direct-to-consumer sales model is similar to Tesla's approach, but different from traditional automakers like Chevrolet, Ford, and Hyundai, which sell through independent dealerships. This means you negotiate directly with VinFast rather than with a dealer, and pricing is typically fixed rather than subject to haggling.

VinFast's battery leasing option is also unusual. Most competitors, including Tesla, Chevrolet, and Nissan, include the battery in the vehicle purchase and warranty it as part of the standard coverage. VinFast's leasing model can appeal to buyers who want lower upfront costs or who are concerned about battery degradation, but it adds a monthly payment that other EV owners do not have.

VinFast's service network is smaller than that of established EV makers, which can be a consideration if you live in a rural area or far from a service center. Tesla has a similar limitation in some regions, but traditional automakers have more widespread dealer networks.

VinFast's financial stability and future in the U.S.

VinFast has received substantial investment from Vingroup and has announced plans to build a manufacturing facility in North Carolina. However, the company has also faced financial challenges and has undergone restructuring. As a newer, foreign-based automaker, VinFast carries more uncertainty than established U.S. or Japanese manufacturers.

This matters for long-term ownership because it affects the availability of parts, service, warranty support, and software updates. If a company faces severe financial difficulty, it may reduce service center hours, discontinue certain models, or struggle to support older vehicles. Before purchasing, consider whether you are comfortable with the additional risk that comes with a newer, smaller automaker.

VinFast's announcement of U.S. manufacturing is a positive sign for long-term stability, but the facility is still under development. Vehicles currently on the road are still imported from Vietnam.

Frequently Asked Questions

Can I buy a VinFast at a traditional car dealership?

No. VinFast sells only through its own website and showrooms using a direct-to-consumer model. You cannot purchase a VinFast vehicle from an independent dealership or through a dealer network.

What happens if I lease the battery and want to buy it later?

You can purchase the battery at any time during or after the lease term. VinFast will provide a buyout price, which is typically lower if you purchase during the lease term rather than waiting until it expires. The exact price depends on your lease agreement and current battery market conditions.

Are VinFast vehicles made in the United States?

Currently, no. All VinFast vehicles sold in the U.S. are manufactured in Vietnam. The company has announced plans to build a manufacturing facility in North Carolina, but it is not yet operational. This affects may be able to access for the federal EV tax credit, which requires North American assembly.

How long does it take to receive a VinFast vehicle after ordering?

Delivery times vary, but typically range from three to six months after you place an order. The timeline depends on production schedules in Vietnam, shipping time to U.S. ports, and local delivery logistics. VinFast will provide an estimated delivery date when you order.

What is included in VinFast's warranty?

The vehicle itself is covered for six years or 100,000 miles. Battery coverage depends on your choice: if you lease the battery, VinFast covers degradation and replacement; if you own it, the battery is typically covered for eight years or 120,000 miles. Specific terms vary by model and year, so review your warranty documentation.