* VinFast to cease gasoline-powered car production by
end-2022
* Potential U.S. plant sites narrowed down to 'about 3' -
VinFast
Global CEO
* Starting price for a VinFast car at $41,000
* VinFast to establish EV plant in Germany
SAN FRANCISCO, Jan 6 (Reuters) - Vietnam's VinFast plans to
build electric vehicle battery cells and packs in a new U.S.
manufacturing complex, its global chief executive told Reuters,
as the company pledged to transform itself into an all-electric
automaker by the end of this year.
VinFast, part of Vingroup JSC, the largest
conglomerate in the Communist-ruled country, became the
country's first full-fledged domestic car maker when
gasoline-powered models built under its own badge hit the
streets in 2019.
The company, which began selling electric vehicles (EVs) in
Vietnam at the end of 2021, said in a statement on Thursday it
planned to become what it said would be the first car company to
cease making gasoline-powered cars and transition to
all-electric vehicle production from late 2022.
VinFast is betting big on the U.S. market, where it hopes
its electric SUVs and a battery leasing model will be enough to
tempt consumers away from the likes of Tesla and
General Motors.
"We will build our gigafactory in the U.S. as well," Le Thi
Thu Thuy, Vingroup vice chair and VinFast Global CEO said,
referring to the new battery facility in an interview during her
U.S. visit to attend the Consumer Electronics Show in Las Vegas.
The company will continue to source batteries from its
suppliers, she added.
Thuy said VinFast will initially assemble battery packs with
cells sourced from its supplier at its U.S. complex before
starting its own production there.
"We have narrowed down from I think, over 50 sites to about
three sites," she said.
She will visit some sites during her trip before making a
decision this year, adding that the "mega site" would also
include an electric bus factory.
In December, Vingroup said it had started building a battery
cell plant in Vietnam. The company is looking to initially
produce 100,000 battery packs per year, with $174 million in
investment, and then upgrade capacity to one million.
EV PLANTS
VinFast previously told Reuters it had plans https://www.reuters.com/business/autos-transportation/vietnams-vinfast-plans-us-listing-couple-years-ceo-2021-11-17
to start producing electric cars in the U.S. in the late 2024.
The company said that on Thursday it was seeking to
establish an EV plant in Germany.
"The era of shipping cars around the world is over,
especially since COVID-19. You must have the factory close to
the market in order to win over your customers," VinFast said in
a statement.
VinFast said prices for its VF8 sport utility vehicle (SUV)
started from $41,000 in the United States, and that it would
apply blockchain technology to record orders and confirm
ownership. By comparison, a Tesla SUV sells for around
$50,000.
Vingroup said it was targeting global electric vehicle sales
of 42,000 in 2022.
Shares of Vingroup rose as much as 5.8% on Thursday after it
revealed VinFast's EVs line-up and the plans to go all-electric.
VinFast is eyeing a share listing in the United States this
year.
(Reporting by Hyunjoo Jin; Editing by Richard Chang, Ed Davies)