Following Tesla's massive price cuts in the US last week, Vietnamese automaker VinFast said it plans promotions to protect the competitiveness of its models.
VinFast is in the midst of a global expansion, including in the United States. The automaker has launched two electric models in the US, the VF 8 and VF 9 midsize SUVs that start at $59,000 and $83,000, respectively. With the Tesla Model Y now starting at $52,990 in the US, the similarly sized VinFast VF 8 is significantly more expensive.
"As a new brand entering the market, when other brands reduce their prices we have to come up with promotions to ensure VinFast's competitiveness," a VinFast spokesperson said in a statement cited by Reuters. "We are considering many promotion programs and will announce soon,” he added, without saying whether the promotions would include price cuts.
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