Vietnam’s electric-vehicle (EV) maker VinFast said that it will launch promotions to protect the market competitiveness of its models, a week after Tesla announced aggressive discounting to spur demand.
VinFast, which started operations in 2019, is gearing up to expand in the United States, where it hopes to compete with existing automakers by offering two models, the VF8 and VF9, which have starting prices of $59,000 and $83,000, respectively.
Tesla is offering its basic Model Y at $52,990 in the U.S. market, a reduction from $65,990.
