Why is North Carolina Making Vietnamese Cars??
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- Опубликовано: 8 июн 2024
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Vietnamese automaker Vinfast is looking to plant roots in North Carolina. What could this mean for the auto industry?
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A battery subscription for a car you bought has the be one of the most anti-consumer things in this recent "you'll own nothing and you'll like it" trend that many companies have been shifting towards.
I bet that people will hack it for unlimited miles and charge it at home, and pay cheep plan.
@@manager96ful Then the police will crack down on that
Subscription services are the new big thing in the auto industry. Just wait till you have to subscribe for your heated seats to work☹️
The chargers fail and they won't replace them. source: I live here
Will they disable a car if you don't pay monthly fee on time? more on that!! if company somehow go bankrupt, Can you still keep a car because it's still technically their car not yours?
The "rent a battery" plan can suck it. It's a throwback to the early cell phone plans and those sucked too.
lol. American mobile phones were always behind Europe.
@@greatestevar I agree, the problem of Lithium-Ion in general is aging so fast, after kinda lot of times when we charge and discharge the battery.
still we need profit to rent all those chinese
The best bit is the mileage limit.
310 in a month? I nearly do that in a week and that's assuming I go nowhere else but home and work
I heard that many of the Vietnamese reviewers who had reviewed Vinfast and exposed the faultiness of these vehicles were reportedly takendown as well as arrested. This is the type of company they are in Vietnam.
well yes, its backed by the communist government.
Source?
@@mikemassino its a huge scandal here in Vietnam. Remember the Vietnamese media is owned and censored by the gov. You can search "vinfast calls police on customer" for english news. But yeah, here in VN you cannot criticise Vinfast at all or you will face the authority. Dont know how they will perform worldwide tho.
@@TuTran-kr2yk Thanks for sharing that news. The reason for my interest in this company is that I might invest some $$$ if it looks like a good investment on the US stock exchange after it's upcoming IPO.
@@michaelmassino6344 oh yeah, as for their stock, it might be good investment. Not so sure about the car itself tho.
Pres @Bongbong , the country needs something like this. Your father would be so proud!!!
I've heard the Vin group is also taking advantage of the recent surges in oil prices to launch their new gas company. They intend to name it VinDiesel.
Ba-dum, *tish!*
That's just a joke that Vietnamese people have made
I think you meant refinery, not gas company.
Their car's executive board is full of "family" members
you had me in the first half lmao
Hyundai has a lifetime warranty for batteries in their vehicles. Their EVs and especially their hybrids are on the affordable side of things. They do this without charging the customer a battery specific lease.
EDIT: As of sometime this year Hyundai has stopped doing this themselves, and it is up to individual dealerships to offer it with or without an additional fee. It should be fairly common for a dealership to do as a decent chunk of Hyundai dealerships already offer in-house lifetime warranties on their gas vehicles on the west coast.
Yeah but they spontaneously combust when you least expect it
Kia has a lifetime on their batteries as well, but you're still liable for labor cost and at a minimum its a 10/12 labor hour job so you're still out the pocket at least 1500
@Gregory Bower that's still less than the $10k+ you would pay over ten years of owning the VF. And that's assuming they don't raise the subscription fee. Compared unlimited mileage plan, the Hyundai/Kia labor pays for itself after a little over a year, and the chances of having to replace your battery in the first year you own the car are very small.
@@gregorybower2759 that's honestly nothing for something so infrequent, for reference parts and labor for my Corolla's clutch was $1650
@@gregorybower2759 You're in for 1500 after only a couple years with this subscriptions service. You'll come out on top if your hyundai battery lasts even a fraction of its stated lifespan.
While I am excited for what Vinfast has to offer I really dont see Americans opting into a battery subscription fee. Look at how many people dont buy an extended warranty for their vehicle. On top of the price of the car payment, insurance, charging price, the battery subscription may be the downfall of the company, even if it covers the battery pack 100%.
I agree fully with this. Americans already spend a lot of money on monthly payments, their not gonna pay for another one that restricts them and has other charges.
When you have to lease a battery pack, you'll need a separate insurance for it, the car insurance won't cover it because it's no longer be part of the car.
I disagree. Leasing removes the future major liability and transforms it to an affordable monthly fee.
I am very excited to see how this battery approach works. My biggest concern with EV vehicles is what is going to happen when the batteries die. Vinfast is taking the worries out of batteries. What a great idea.
If they assume the risk of fire by owning that battery, literally is all i need to buy a Vinfast
If they would make the subscription model more affordable
@@PixleFusionX $35 a month is not bad, pretty affordable
@@Lucas-vd2gx yes, for city dwellers. I’m not feeling the battery subscription. Now- an extended warranty for the battery, maybe. But I’d rather own my things outright.
@@Lucas-vd2gx Yeah I do not exactly trust mega companies owned by ultra billionaires to really make the best decisions when it comes to their customers because they regularly do not. Would rather own my purchase than have it owned by a company that is only 5 years old with no track record or guarantee that they will be around for the long haul. You earn that trust, you cant just buy it.
There's a reason Renault stopped doing battery leases in the EU
Yeah Im surprised they decided to copy this failed business model.
The EU leasing model always seemed to suck. Mainly because the contracts were mainly country specific so it wasn't straightforward to export/import them. In addition not all EU countries had even the whole system in-place so if you wanted to export a leased-battery car to such country you'd need to first buy the battery...
@@rkan2 Also we had options to not even start to think if was worth it or not... i think that was legit the biggest problem with the leasing model, you looked at Renault and the other manufaturers and was like oh cool i don't need to think if the leasing model is worth it or not and gave up really fast.
I owned a Renault 40 years ago. I am still mad at France.
Never fight a land war in Asia and never buy a French car in the USA.
The vf8 is about the same price as all the other entry level crossovers but you then have to lease the battery on top whereas the others almost always have a warranty that's going to be longer than the first owner will keep it. Sounds like it'll be an uphill battle. It needs to have a 5-10k discount being a new company and requiring the battery lease
Well luckily, the car market is awful right now. You can barely even find entry level crossovers, so people are just trying to get one. That means vinfast had a better chance to do well even if it’s a bit pricier.
vf9 has no competition on the market though at less than half the price of model x.
vf8 has also better range, performance than a 40k id4 and is sized like the id6 or like a model Y with a longer wheelbase.
the battery subscription means additional cost but also covers battery replacement. if you count 110/month is maybe about the price of a Tesla replacement battery paid over 15 years... not too bad especially if you plan to do a lot of miles, and considering the savings you do upfront compared to a similar EV which is almost the cost of a battery replacement. of course this is all subject to them meeting their announced price/delivery date/specs.
more generally the nice thing about leasing the battery would be enabling battery swaps on long trips but unfortunately I don't see a small manufacturer setting up a battery swap network plus it doesn't seem they are considering that path.
@@milkyy4168 But they'd need to be producing now - which they aren't.
I agree , I feel like consumers will view the leasing thing as another burden that comes with the car ,
@@marvinssettumba8340 Same - there are a good number of people who lease entire cars I'd imagine most people would rather own all of the car outright or lease the whole thing. Gradually I'm seeing more things shifting to "X as a service," where instead of owning the thing outright people pay a subscription fee. Started with software, is moving that way with physical goods as well. I suspect companies do it as they see it as a way to extract more money out of people than outright sales, in other words worse for the consumer in the long run.
I didn't get alot from this video. However I did find myself last night. Appreciate the advice 🙏
Subscription is not the way to go in the auto industry. Refueling or recharging is kinda like a subscription, but the element of freedom to choose is what differentiates them and that is a huge factor for any consumer.
Any car manufacturer that’s introducing mandatory subscription models for their vehicle is getting ignored by me. I rather not chose making that a thing, we already see this practice in many industries. If every manufacturer starts to do this and I run out of options then I’m just going to continue buying old gas cars for life.
Buy 20 used 1995 corollas and a lot of parts for them and you will never need to buy another car in your lifetime!
Agreed.....soon as I heard I am buying a car and leasing a battery I said no way I am out.
Same here I’ll be buying donors to keep my car going for decades.
@@Mika-ph6ku big facts my corolla still driving like a diamond even though it looks like shit from the outside
@@jjchi802 add some body mods she’s a beauty!
Subscription based markets are toxic and greedy. Every service that moves to the model loses my business. Microsoft Office, Adobe Creative Suite as examples. If I can't buy once and own forever I don't buy. Same goes for DLC type markets irl. My KTM motorcycle came with software locked features for parts already built into the bike, I hounded the dealership to unlock everything for free while I haggled and they eventually caved. It's the closest I've ever come to enabling this sort of behaviour. I will never directly pay into businesses that do this sort of crap.
I agree, why would somebody pay 40-60k for a car and then pay 1300 a year for the battery, when they could just buy another electric car without a monthly battery bill. Plus reselling the car won't be as easy.
But there is method to thier madness. They are taking away the chance of you getting stuck with potential battery replace cost. And the initial battery cost is not included in the sale price so it's cheaper to start
i agree with you on the most part,subscriptions shouldnt be on most things software wise,it's just plain money milking,but,a subcription on a car battery might work,it costs a fortune to repair or replace those things,if they could just make it that a subcription is cheaper than purchasing the whole batter itself and have your nights wondering when is it gonna go ham,the milage they proposed is too short,daily commutes without paying extra is nearly impossible
@@vitaliy9932 I agree. The price isn't subsidized enough to justify a subscription model. It sounds like you're just pre-paying for a new battery to me.
@@gunfighterzero the battery cost is definitely included even though they say it's not. Every other comparable EV is similarly priced without a monthly battery fee.
$110 a month with 6% interest is 18k over 10 years. With a car that is 41k and you don't own the battery, it's 3k less than the ioniq 5 and has far fewer places to repair and get maintenance done. That is such a bad deal.
From 1st Sept customers in Vietnam can buy Vinfast cars with battery which costs around 15k for VF8 and 20k for VF9
It's sounds great on paper until states start adding the other fee that will come on EV cars. You be paying the manufacturer a mileage fee for range + the state mileage on registration (to make up gas/road taxes in some states) + whatever tax that they will add on to charging stations (to make up revenue as they phase out gas power vehicles). Also the way how the industry is going, you'll be paying subscriptions for normally standard features on a car and still won't be covered under warranty when they break. At the end of the day the consumers are getting screwed in the long run.
And i wonder what maintenance could be like. Like where would customers go to get something fixed (besides tires obviously)
It will end up costing as much or more than gasoline in the long run. I'm going to guess that electric costs for home will go up also as the demand for more power stations etc goes up as the power grid isn't ready for all this.
@@marioelburro1492 that's a good question too cause I'm sure they would be like Hyundai and Kia that for stuff to be covered under warranty all services must be done when they are supposed to be done that has to do with the drivetrain. Basic maintenance like brakes, wipers, bulbs and tires could probably be done anywhere unless they lock brake services by their own scan tool (as things are now electronically controlled) but that would go against that "right to repair act". There are a lot of gray areas that we just going to have to wait and see what happens.
@@tylerandiemichael159 As usual in these conversations, please look at updated facts. You're quoting things that are 1-2 decades old. Thanks.
@@patrickchapman3242 is he? Or does his point of view not align with yours. You offer any proof or "facts"?
y'all forgot to mention that if the company goes bankrupt, say goodbye to your battery. Chevy just stopped servicing a 5 year old so there's no reason why a small 5 year old company wouldn't just disappear out of nowhere.
I mean you can't go bankrupt easily when you're part of the largest conglomerate of a country, with billions coming from other sister corps as well
@@hmuy0608 We've seen much bigger companies with a lot more funding go under in a couple of years.
until another business smells cars that could be saved for a comparatively small sum by engineering their own battery to throw into it. bet vietnam would be a lot more pissed than us
I hope they play nice with the aftermarket, Tesla sucks because they don't let you replace individual cells without banishing your car to the shadow realm.
@@mintynuggets i totally feel that; walled gardens circumvent the forces that drive a company to innovate and while apple is able to iterate their products on a seasonal basis a car isn't something you buy as often as phone. a subscription service is gonna have to be cheap as hell to convince me; when you buy gas/charge you're paying for things you only use when needed, but a subscription service means paying even when you're not using it
I live in NC. I straight up would love to work for these dudes. I really dig the cars. Could never afford one. But would love to. Lolol
Exciting!! Maybe I’ll check out their 2 models when available in Tennessee, where I currently reside.
Here’s my question: A totaled car would be under dual ownership. The mechanical car itself being owned by the consumer with the battery belonging to vinfast. As the owner of the mechanical car, would I be on the hook to reimburse vinfast for the destroyed battery? A price they have complete control over? Or will they tack on an “insurance fee” to the monthly lease… Or will create a new door for traditional insurance companies to add a special/cost condition to a policy?
What about 3rd party batteries? The mileage limits throws a major red flag. Living in Colorado, every corner of the state begs to be explored. And then there are those times when I want to visit family and friend in Idaho. If I’m limited in range, then I’m going to have to take the most direct route. So this opens up a 3rd party battery with unlimited miles that I own.
Too many unanswered questions with murky ownership and responsibility.
thats rlly something to think about
The answer is simple: don't give VinCrap your business
@@dominator9833 lol im in india and the EV scene is so bad here EVs have gained a reputation to explode here cuz they frequently do
The problem will resolve itself when the battery catches fire after the crash and burns the car down.
You know if the batteries catches fire and destroy your car would Vinfast have to pay you for damages?
Interestingly here in Australia Vinfast bought the Holden Lang Lang Proving Ground outside Melbourne. They had also opened an engineering centre in Pt Melbourne that was planned to employ a number of former Holden and Ford staff. Sadly after less than 12 months of an Australian presence they sold the Proving Ground and closed the centre, however still plan on selling cars in Australia.
Do not buy these junk cars. All their cars literally fall apart. Terrible.
@@DungarooTV have u even drive these? They're currently only selling in VN
@@namanhdangvu6195 Ignore him he's still just seething about the war.
Vinfast probably learned quick about the long-time mistake GM and Ford made. Automotive manufacturing in Australia is expensive for both export and the domestic market.
@@DungarooTV Same thing was said and actually true about KIA cars back when they first came to the states and now look at where they are. Not saying Vinfast will be the same but the roads been paved before by Korea.
Mercedes did the same thing with the smart car. It was great having peace of mind. I paid $30 per month for the car and $85 per month for the battery. It was cheaper than the monthly pass for subway and bus for the T in Boston.
I like that VF9 even the stock rims look pretty clean, slam it and tint it out and she's a solid 8
It's a no go for me on leasing a key part of a vehicle I paid for lol
Hard pass for sure
That's the thing, you didn't pay for the battery. You paid for the car around it. You're still free to drive it wherever you want. Imagine solid state battery technology getting more economically viable and then getting an upgrade (more milage) when it's time to get it replaced.
This WILL cost the buyer more, no doubt. If cars are becoming subscriptions, I’m going back to old cars.
100%
My 79 MG Midget is looking better all the time!
ou have so many good choices out there.
Why bother a communist-run company with no car tech and no reputation?
Fixing up a '72 Opel GT for this exact reason. To hell with EV's, I'm getting a carb!
Yup same here I doubt fossil fuel is going away completely anytime soon
Can’t wait 😆 I love the design 🫶🏾 we need a new manufacturer 😍 new ideas 💡 for the future
This was really interesting. Honestly I’m excited to see one on the road sometime. Probably never will where I am, not for a few years. It’d be awesome if they let you guys get one and maybe do a bumper to bumper.
Communist's car copied and get part somewhere else putting together
I live in Raleigh. This has a Foxconn Wisconsin vibe to it. Also, I’m not sure why they chose Chatham county. Not exactly cheap labor around here anymore. Companies move their headquarters and engineering facilities to this area. Not their manufacturing.
A lot of businesses do a poor job of vetting labor pools. I worked for Yokohama years ago and they opened a new manufacturing plant in Mississippi to escape Unions, but the labor pool in Mississippi is not great for manufacturing and their first year the scrap rate was atrocious and they lost beacoup bucks for several years. The Japanese were just looking at cost of labor which is dirt cheap in Mississippi, but almost half of the state is on welfare too.
Good point. Hope they hire me tho once I graduate
They chose that area because it’s been allocated as a huge industrial site for many years, just never had a company that needed that much space. Same reason Toyota’s new EV battery plant is going in that same area. Chatham (and neighboring Randolph county) has a long history of manufacturing so their labor pools will be ready to work there. You’re probably thinking of Chatham as just the Pittsboro area which has definitely gotten more expensive, but Chatham county goes all the way down 64 past Siler City up til right before Asheboro, so the overall county is still majority blue collar.
@@goodgirl_goneglam6173 I hear what you’re saying. I just assume a company moving here is looking for the intellectual capital of the area.
I am all for more investments and jobs in the country.
However, there is a fat chance that Vinfast / Vingroup will do anything in North Carolina. Let me tell you WHY.
Firstly, they currently have a huge excess in assembling capacity. Their big assembling plant in Hai Phong has been operating under the capacity for years.
From this year, it's getting worse for them since they had to stop assembling loss-making petrol cars.
Now, they are probably operating at less than 10% designed output.
Secondly, they have severe lack of capital. They had to use their real estates as collateral to borrow money to fund the construction of a small battery assembling factory in Ha Tinh.
Lastly and most importantly, as a car business they have virtually no tech and no reputation in the car industry.
Therefore, will communist-run Vinfast / Vingroup make a $4 billion investment in North Carolina? No, it is beyond them. It's is red herring....a very big one.
Why would a company having excess capacity, severe lack of capital and having no tech like to build another assembling plant in a higher cost environment?
So why do they keep talking about it and play it up? Because they are trying to create a false perception that they are actually doing in the US to lure the uninformed American consumers into buying a high-value item, a car from a unproven company, a communist-run company and a loss-making business no less.
So far, communist-run Vinfast / Vingroup are all talks and hot air. They only signed a memo with the State of North Carolina, a memo means nothing.
Contrary to that, Hyundai has just signed an official agreement with State of Georgia to build a $5 billion plant with capacity of 300K EVs per year.
Hyundai shows the financial commitment and do what they said to do.
You can not say the same for communist-run Vinfast / Vingroup.
Lots to unpack here, but the factory in North Carolina drew my attention in particular, "Oh think how much this will help the state," is code for "We gave them a butt-load of tax breaks and hope they stick around long enough to recoup that loss to the taxpayers, maybe, someday." It's a stick-it-to-the-taxpayers game states have been playing for decades.
The state of North Carolina and local governments in Chatham County will be forking over a lot of money in tax incentives to bring Vietnam-based VinFast’s electric vehicle manufacturing plant to the state. But an economic formula used to analyze such business recruitment deals says the return should be in the billions for NC.
According to the so-called “Walden Model,” the VinFast project over the life of the 32-year agreement will have an:
Estimated increase in NC GDP (gross domestic product) of $71.6B
Estimated increase in NC NSR (net state revenues) of $596M
My state was ravaged by the trade deals in the 90's dozens of manufacturers in my county and surrounding counties up and moved to mexico and china... I'll happily pay out some incentives to boost the states economy period.
@@jinto1980 Taxpayers provide "a lot of money" consisting of "some incentives," pretty vague, hoping for "billions" in returns over "the life of the 32-year agreement." For a company that's only been around five years? Typical government blind optimism. Illinois gave Motorola billions in incentives to build a cell-phone plant. It lasted a few years. Poof, all that money wasted. This happens all the time.
@@JDoors it’s a gamble in the end. Tech venture capital firms have been doing the same. Invest in everyone and hope one of them come on top to recoup all the loses. States do this to attract workers who will then spend money in the local economy/housing. They have been doing the same w fracking/oil companies but there was so much money that it would sometimes make the housing market so badly that regular ppl can’t even afford to live there anymore.
@@henrylam92 Yeah, giving generous tax breaks to oil companies has been beneficial to gov'ts and consumers. +$5/gal.
@@oldanslo not a big fan of all those big coprs in any sectors. Too much money and power w lobbying. But that’s just the truth
The vf8 has decent styling which I do like.
I worked on the traffic report of this same site when it was originally going to be a fulfillment center. We had to redo the report because the size of the center was reduced. I looked it up later on after the report was done and found out Vinfast was taking part of the land the fulfillment center was going to be on.
The main difficulty imo will be, convincing consumers to buy the car when it looks like just another crossover, from a five year old Vietnamese(not famous like the Germans) brand with limited hype and USPs.
i also think way less people will buy them becouse of the battery fee
All depends on price.
@@commandercody2224 agreed there will definitely be hesitation in the US market to really accept them as a legitimate player
MO POWAH BABY !!
I'm one of those customers you can't convince.
1: Everything past the early 2000's looks terrible.
2: electric cars aren't the answer. They are NOT a viable option for everyone especially those that live in the middle of nowhere.
3: If most people owned electric cars, it would end up doing more damage damage due to more power being needed and supplied from fossil fuel burning companies.
4: last but not least, good luck fixing any problems this vehicle would have. The average Joe won't be able to perform any maintenance on any of these electric vehicles. And to top it all off, the companies will rape your wallet to fix minor problems. How do I know? Ask anyone that owns a Tesla to see a minor repaired bill they've had to pay. $3k to replace a wheel and tire. Stupid.
So basically they’re going to charge the same amount just in a roundabout way. Seems like a scam
Yeah. They charge you endlessly until you decide to get rid of the thing, and then you'd presumably have to sell the stupid service to the next chump. Total scam. It's the gaming industry DLC model applied to real life, taking a portion of features out in order to charge you for it.
And if you don't understand the DLC model in video games imagine buying a brand new phone and they said you'll have to pay a subscription to charge your phone.
I think VinFast should eventually bring the VF6 &/or VF7 as a compact EV CUV/ SUV option for people who don’t need or want the midsize VF8
In Vietnam they already have the problem about car ownership, first you have to register account with Vinfast then you can use your owner car with account so you cannot use it and if you sell the car to someone else it would not recognize the new owners, so it doesn't work.
Imagine being required to buy a warranty or the vehicle is undrivable. Imagine having to pay rent on a car you own. At first I thought it was cool for a Vietnamese manufacturer to come in, but if they are scamming they’re customers like that, I honestly hope they fail here before big brands catch on and it becomes a precedent.
Imagine having to buy liability insurance to legally drive a vehicle on public roads.
As a Vietnamese I have seen clips of the EV being towed or simply died out on the road. I am not a fan of their business model despite being proud of having a car company representing our country. Cool models, fancy tech gimmicks but sketchy engine. Plus they are trying to do “monopoly move” by planning to build charging stations for them personally here.
@@aeronmics Sketchy engine? They're EVs - there is no engine.
It isn't really a scam if they're telling you, straight-up, "hey, this is how we're going to do things".
@@oldanslo you can still drive any car without insurance 🤷♂️ this seems like they can cut you off if you don’t pay and then you’re stuck with a giant doorstop
People are already complaining about subscriptions for heated seats, and they think charging a subscription for the sole thing that makes their vehicles run and drive is a good idea? That’s a horrible idea. Vinfast will be the next Daewoo in America with that business plan.
Good, fuck suits
I say survival of the fittest. Let them try and see for them self if this is a worth while business model. Market response can be very fickle.
Not sure if anyone else mentioned this, but Renault did the same when they first brought out the Zoe in Europe - but they ended the option in 2019, citing 'increased residual values of the cars enabled them to offer a better pricing', it was done initially to keep the purchase price down to that of a diesel equivalent...
the battery idea could work if the battery becomes standardized across all platforms and make and model. instead of driving to a gas station, we drive up to a battery station. we replace the battery and drive off
Not a fan of the "you dont own the battery" seems to be another step away from right to repair. Their cars look do and price isnt bad. I hope to seem them on the road.
Can't really repair evs on your own anyway though unless you own a whole ass auto workshop.
@@Mika-ph6ku not a good point. Freedom
@@wtice4632 It is a good point. I'm not defending the auto companies I'm just deadass saying you won't be able to repair your own ev without a dedicated workshop for doing so. Not everyone can afford such infrastructure nor would they care to do so, therefore you can't have right to repair with EVs. You need to pick either right to repair or EVs, can't have both.
@@Mika-ph6ku " you won't be able to repair your own ev without a dedicated workshop for doing so"
*Uncle Rich appears with a butter knife*
lol
Exactly! People can - and have - repaired EVs in their garages already. Renting the battery might have arguable appeal to the average customer, but all the enthusiasts who have a tool box for their cars... they have every reason to hate this sort of idea.
A lot of people disregard accumulated rental costs, and only pay attention to the big single cost. This whole business setup sounds like a company selling a piece of shit for far more than it should be, but muffling that cost with 'rental fees'. A little bit of easy math and this company really seems like a scam to take advantage of gullible people.
I would never buy a car that I would then have to lease the battery.
The reason VinFast wants to lease the battery is because it looks cheaper to the consumer but in reality the consumer ends up paying way more. If this was actually cheaper for the consumer it would not be profitable for Vin Fast to do this, so Vin Fast would lose money and wouldn't offer this.
Yep they're trying to recoup the cost upfront basically
But you also get the battery replaced if it degrades. It's a lot easier to sell an eight-year old EV if you can tell the next buyer there is a subscription but definitely no battery replacements needed.
@@niallmurphy2163 if you are buying an 8-year-old car you are trying to save money. You don't save much money if you're spending an extra $1,000 a year to rent your battery.
Some people will think they're saving money and go for this option, but in reality they will end up spending a lot more money than if they just bought a used EV with a bunch of battery life left.
It’s not cheaper tho it’s 50k. Chevy Volts are 33k for a car you OWN THE ENGINE TO
@Immortal Life when you are renting a battery they don't replace it free of charge, that cost is wrapped into the rent you are paying. I'd much rather save a thousand dollars a year in battery rental and spend $10,000 to replace my own battery after 15 years then rent a battery for $1,000 a year and have it replaced for "free".
I'm using the $10,000 number because that's what it costs GM to replace each battery pack on the Chevy Bolt. I'm assuming battery costs will come down so this should be a worst case scenario.
Me in LA a little homesick and I see North Carolina on my favorite channel!🙏🏽
They announced two options in 2024 onward, from 2024 you want to buy or lease battery is up to you. And I think that battery technology changes quite fast, so if you lease then you can upgrade the new one without any cost
That explains the “Megasite Construction” that I drove past on Friday. I was trying to figure out what it was, and Nolan and Donut came through!
Day 366 of asking Donut to bring old B2B back
I agree
ye
As a vietnamese i've seen how Vinfast's cars been steadily increasing in traffic but never realized how big it was 😮
With the petrol car business, their staff were coerced to buy their underwhelming cars. They do the same with EVs.
However, their petrol car business did not survive after about 3 years. No matter how much they reduced the price, they just couldn't sell even sell at a loss.
Now they jump on the EV wagon, desperately hoping to recoup some loss and ride the EV sentiment.
However, basically their approach is the same for EVs, which means they import parts and assemble them into finished products.
All the important engineering works are outsourced and will contribution to the increase of assembling costs.
As a car business, they are only at the assembling level, they have virtually no tech and no reputation in the auto industry.
In terms of tech-related businesses, so far they have failed miserably in all the tech-related businesses they managed to get their paws on over the last 10 years..
Based on their trading records, it's highly likely that they will fold before the promised 10-year warranty.
Without the ill-gotten gains from the land grabs, they would have long gone.
Vietnam has 100 millions in population but Vinfast only sold 35 thousands car at home (Vietnam). "steadily increasing in traffic" ??? you must be a Vietnamese troll ?
@@musicful7036 From what ive heard, buying a car in Vietnam costs a lot. Thats why not many people have a car.
@@jeppyjep That's true, not many Vietnamese own a car in Vietnam due to the cost plus the ridiculous amount charge of taxes . Very unaffordable for the majority of Vietnamese in Vietnam to own a car. That's why we see gigantic numbers of motorbikes and scooters across the country,Vietnam.
Not a fan of the subscription model but I'm glad to see more competition in the market
fun fact: the fadil is just a rebadged chevy spark and their lux models are based on older bmw platforms.
"...if it all pans out." Five-year-old marque from a developing nation introducing a FULL RANGE of models all at once based on a technology in its adolescence and an untried business model? What could go wrong?
Renault tried the subscription already, failed on many levels in Europe. Can't imagine why they think it would fly in the US.
I'm buying PUTs on their ipo, this subscription thing isn't going to work in America unless they market to millennials but even then $41k base is still way to much for most of us
These are based on BMW platforms, thats why they were able to come to market so fast
Saw a prototype Vinfast VF e35 in Arizona when I was moving from Cali to GA in my Chevy Bolt.
Vietnamese here, thank you guys for doing a episode about Vinfast. Keep up the good work !!!
Do not buy these junk cars. All their cars literally fall apart. Terrible.
@@DungarooTV and you wonder why nobody invites you to parties lmao
@@Bobanana_mmb how does someone saying something is junk mean they aren’t fun
@@RandomPerson-mr2lc he copied that into every reply section
They're going to have to rework that battery fee - that mileage is under half the average monthly mileage for American drivers. That's going to be a *huge* pain point for customers.
I drive daily 30 miles to and from work. Its easy to reach 900 miles a month. Might as well pay the unlimited. That means 1.1k a year or 11k every 10 years. Tesla has a warranty but also charges for the service. It will come down to service quality and replacement of parts and how long is turnaround time. The price tag is just to get the driver initial interest.
Y'all should do an episode on design language similarities between different car brands.
Flashbacks from Nam. Thanks Donut!!!
"Oh cool, a new car company. Hope they do well."
"They're planning on subscription services and monthly fees."
"May they fail and burn to the ground and everyone involved goes bankrupt."
subscription every!!!
your mug? you rented it
your cat? 5 dollars monthly subscription
that knife? 7 dollars month
your sould? it's priceless so give it to us
"you will own nothing, and like it" yeah...they are trying
Why would I want to own a battery that I will know will go bad eventually and the replacement is 25% of the cost of the car?! I will gladly go with the lease, knowing that I am covered with a brand new and more technonologically advanced replacement. Think about it!
@@JHaviland1 bro I am not paying 1100$ a year to RENT A BATTERY. I’d rather pay the replacement once every 5-6 years and be done with it. Plus then reselling the car is easy instead of having to transfer the subscription over to the new owner. I hope whoever was the greedy dipshit who came up with this idea gets hit with a car.
@@JHaviland1 That's how it starts. First there's benefit for you. Then they'll make more and more things subscription-based with low monthly fees and lower and lower allowance (with higher charges once allowance limits reached). At the end of the transition to the all-subscription model, with real life use, people will end up paying more for their cars than now, although the advertised prices will appear to be low.
as a machinist, all these names, VF5, VF6, VF7 etc. just makes me think of Haas CNC mills since they use the same names
this ís the best Donut's video i've ever watch!!! i really love the way you talk about our auto industry. i hope you guys will have more videos like this.
🥰🥰🥰
I’m happy my country vehicle is coming here
Chevy Bolt starts at $31.5k, comes with 8 year battery warranty, and you get to own the 66kWh battery without a monthly fee. Nolan kinda rubbed me the wrong way in this video with thinking paying monthly for a battery is at all attractive to American consumers, given those vehicles are like $50k????
True but this isn't a Chevy Bolt they're selling.
Can't slag the company in the commercial they paid for lol
@@theodoreolson8529 its worse
@@theodoreolson8529 You're right. It's not the Chevy Bolt. It's an EV from a company that nobody in the US had ever heard of before, with questionable quality and longevity and no real history....
the VinFast Fadil (@3:17) is basically a current version of the Opel Karl - a city-car built in South Korea by extinct Daewoo (also sold as Chevrolet Spark) when Opel was still owned by GM.
The best option I've heard of so far. This way you can compare apples with apples when you need to choose between internal combustion and electric vehicles.
Great review. Very informative. My favorite part re battery sub "wait. Maybe it's not that confusing" I love that you said this in the video because it's so true. People are seriously over complicating it. Just do the math 😆😆😆
"The object of my relationship with Vietnam has been to heal the wounds that exist, particularly among our veterans, and to move forward with a positive relationship...Apparently some in the Vietnamese government don't want to do that and that's their decision." - John McCain
Ho Chi Minh dies 53 years ago... I don't think he cares anymore.
I believe this is a quote by John McCain, a former Navy pilot and now politician, during a visit to Ho Chi Minh city in Vietnam. This is not a quote by Ho Chi Minh himself.
@@minhhieupham6606 ahh, so not quoted correctly by the OP
*hot starts a jet killing many service members*
daddy please exonerate me
The Vietnamese communist are not sincere in the relationship with the US.
If you look at the way the Vietnamese communists behaved in the guest room where they were in talks with Blinken.
They are after the benefits they can suck off the American.
Vietnamese communist - run Vinfast / Vinfast only signed a memo with North Carolina and you know a memo means nothing.
Contrary to that, Korean carmaker Hyundai has just signed an official agreement to build a $5 billion plant in Georgia.
Vinfast / Vingroup is all talks and hot air.
Meanwhile Hyundai shows the financial commitment and do what they said to do.
It’s really cool to see all this money coming to my hometown area. The NC Triad area is also getting a Toyota EV battery plant and a supersonic jet factory so lots of new opportunities are happening here. Plus we’re exactly halfway between Raleigh and Charlotte (without the insane home prices of those areas), three hours from the coast and three hours from the mountains. Love it!
Fuck um. These guys aren't anything I want around
Why all companies move to north carolina, not california..? Somebody can tell me
@@johnbrookhaven7134 land value probably
Didn´t know they had help from Nissan (and others). You always learn something new.
Dude you are so funny bro. You carry Donut. Everytime I see you on the thumbnail I watch even if I have zero time to do so and must face epic humiliation and a wretched test score...
You completely lost me when you mentioned a "monthly battery subscription fee". At that point, combined with the higher cost of buying an EV, its like your not even saving any money over gas anymore 🤦♂️
Might as well keep your Hellcat!
the point of EV is saving the environment, not your money
@@mallone6431 EVs are not going to save the environment, the lithium mining required to make the batteries is terrible for the environment
@@mallone6431 that’s not convincing anyone
@@mallone6431 ratio EV resource allocation does far more damage to enviroment then oil production.
id keep driving gasoline powered engines until it was financially impossible before id LEASE A BATTERY FOR MY CAR. lmao some stuff the people come up with is hilarious. love EV's though
I'll always drive an older gasoline powered vehicle period. Everything passed 2010 is junk.
@@ouncesofashes You have a lot of confidence in the early 2000s. Anything past 2000 is junk.
@@Mika-ph6ku mid (2000's) was peak auto design and quality . everything after is trash
@@ootmaster1 Them Romans got some quality wagons.
@@Mika-ph6ku lol
I like the way they look.
I love how when they show off their infotainment system. They show it being laggy and unresponsive and that's them showing off the best bits assumingly.
Imagine paying 50 grand for a car and then paying a freaking subscription to use it
And when you stop paying the subscription and your car is turned off remotely because of the law brought on by the Biden admin, have fun reselling it!
First the gaming industry, now cars...
@@EngiNetion yeah lol, starting to see a pattern
@@EngiNetion The subscription model actually started with insurance....
@@EngiNetion How about paying Fine or lawyer Fee if you have Honest review !?? :))
Why did this feel like an ad for vinfast, with an ad for hair stuff at the beginning, and an ad for their own merch at the end 😓
Why do I pay for premium at this point
Sponsor Block extension, my guy.
Wow.. @5:00 seeing these all back to back literally feels like the same vehicle with different colors/styling..I mean I know a lot of crosuvers look the same but wholycrap!
Guys! There are 2 reasons why the manufacture offers the subscription plans.
1 - They want to remove the fear of battery degeneration over the time. People often worry about the performance and life cycle of the battery when buying an EV. So Vinfast offers battery warranty as long as the EV is on the road and customers pay the monthly subscription fee.
2 - They want to lower the cost of owning a premium EV. Thus, Vinfast VF8 and VF9 are premium EVs, in premium segments. To buy or own a premium EV like that, the cost you have to pay is from $60K something. So by offering subscription plans, customers can own the EVs at a reasonable price, from $40K something.
And finally, from 2023 or 2024 (depends on market feedbacks), Vinfast also sells EVs without subscription plans for those who don't want to pay a monthly fee, and of course, the price of the EVs will be higher by $15K I guess. So customers can choose between 2 options:
- Paying a lower amount at first, then pay a monthly subscription fee and don't have to worry about the battery life and performance.
- Paying a higher amount and own the car without paying a monthly fee, but the manufacture offers warranty for the car in 10 years or 125K miles only.
Major mistake not bringing the 3 cheaper models to the 🇺🇸
They just need Vin Diesel in their commercials and they'll sell well
"Electric for a brighter future, for family."
Can just imagine some hook where the advert has Vin Diesel contemplating changing his name to Vin Electric.
Or, if they get organised, the company could have a VF-10 model lined up for the release of Fast and Furious 10, and then have all manor of wild advert/sponsor action.
@@damionlee7658 why not Vin Watt? It's both a real surname and wordplay for electricity related stuff.
@@LouisSubearth only went with electric to tie in with "Vin Electric Vehicles", but Vin Watt is absolutely a clever play on the name. That said, Electric is a "Real" surname, although most prevalent in Iran.
As neat as it is to see new vehicle offerings in the USA, I'm still 100% dedicated to my V8s and V-twins.
Okay so I did some math. at 110 dollars a month, it would take 76 months, or 6.4 years, to eat through the 10k equivalent of a battery replacement. If the batteries are rated for 100,000 miles, at the average of 12,000 miles a year, it would take 8.3 years to hit the 100k mile mark where the batteries usually run out of warranty. I would take my chances in owning the battery and having to replace it out of pocket, then having to pay upfront for it. Plus battery tech will evolve over time and replacement batteries will be higher quality than current ones.
These videos makes our days better
I had no idea this was happening, never heard of vinfast. Very interesting.
very big happy that minificar r in emerca
Just saw a Vinfast dealership in Bakersfield CA.
0-100 in 6 seconds is the budget option... I like where this is going
The Battery lease idea is the same as Ranualt with their early Zoes in Germany.
So what happened is the costumer was obligated to come to an annual service and the car has always be in "the manufacturer warranted conditions to be eligible for claims" and there were problems xD
Not surprising, it's a predatory model in the first place so why not just keep fcking over the customer?
@@saikanonojutsu oh yeah if you wanted sell your car the lease on the battery is still on you unity you buy it or make the new owner sign a lease transfer xD
Vinfast might be a Vietnamese company. But its headquarter will be in Singapore when the IPO coming out.
The Polestar 3 EV SUV start production in Charleston S.C. at the end of this year at the Volvo Plant.
The Vinfast plant is coming to my hometown in NC. Hopefully that means I'll be able to get a decent bowl of Pho at home. And it's no big deal, but Chatham county is pronounced Chat-ham (chat-um) county.
This one made me laugh. Great Humour!
So, you buy a car, and also you have to pay for batteries, and pay for charge. It’s like to buy a vw golf and having to rent the gas tank and also be limited to your neighborhood because you have a subscription for use something you already own!
They need to have a battery lease plan in between the basic one and the unlimited mileage one because 310 miles is not very much, which means that most people will be paying extra every month. If we take the national average of 30 miles per day, that works out to around 900 miles per month which is far higher than their target of 310 miles.
I went to the New York Auto Show back in April, and VinFast was there. I’m personally not the biggest fan of EVs, but I was intrigued in their company (I’m hair with anything they can beat a Tesla). And I must say: I’m impressed. It’s likely that this company won’t put a single dent in Tesla’s sales (cuz Tesla is Tesla; it doesn’t matter how good any competing car is: nothing will outsell a Tesla), but it’s still a really solid competitor, especially for a budget EV. They have the chops. They just don’t have a cult
Edit: I do like their car designs tho. I would like 2 c them make an electric sports car
Probably it's biggest market will be mostly Vietnamese-Americans
@Duke Nukem ,In fact, Vinfast has to spend massively on advertising because there is little interest in their cars.
Their petrol car business could not last for more than 3 years.
@@ongmat4439 u probably could have talked shit abt Hyundai as well. Now look where they are. Those guys were small, and blow they sell cars among the top manufacturers out there. Vinfast could very well go the same way, if they play their cards right
@Duke Nukem sound like stupid "yellow 3///" homeless people?
@Duke Nukem maybe you don't know: the tax rate for a car in Vietnam is 3 times higher than the selling price! The reason why the tax rate is so high is because Vietnam's infrastructure is not enough to meet the demand if there is a traffic jam and a lot of narrow roads are not for cars in Vietnam!
That battery leasing should reduce the all in cost, but lets look at that for the VF8 ($41k base). So lets do some simple math on the battery lease plan, lets look at the unlimited plan for comparison. $35 x 3 (price for unlimited as described in the video) = $105 * 12 months = $1260 annually. The 3 models that were used for comparison (Id.4 = ~$42k base, Ioniq 5 = $40k base, Ariya = $46k base). Availability and dealer markup aside.
So yeah, I'm not seeing how that battery lease saves money up front. When you have companies like Kia/Hyundai giving a 10 warranty on the battery, does leasing the battery actually provide a benefit? for the course of that 10 years you're paying an extra $12,600 for what exactly? The latest battery tech? What does that even mean? That they'll do a battery swap for the latest and greatest at any time? REALLLY doubt that's for the good of the consumer since it would just cost more money to replace THE most expensive part of the EV.
if Vinfast is even around that long, Daewoo lasted what 3 yrs? The Chinese have been "coming soon" for 20 yrs now. Then what, they come and take your battery back?
It's crazy, I just read about this company a couple of hours ago
I live in N.C. and I really hope VinFast catches on . As the big 3 move overseas or into Mexico it nice to have a localy made Mark . FYI I did buy a Nissan made in Tn.
Most of the Toyota models sold in the US, are built in the US....and unlike VinFast, Toyota actually has a long history of quality and reliability.
10yrs @ $35/mo = $4,200.....i had to throw away 2 very good cars here in NY because the cost of hybrid battery replacement was higher than the value of the car....as such the car not pass NY DOT inspection -> unable to renew my registration -> car not legal for use in NY. I will 100% consider this brand for my next vehicle purchase.
If the leasing is optional, this sounds like a great idea. The problem is that leasing is most often done for luxury cars, not entry level or even mid-grade items like this car. It may be hard to sell people interested in the vehicle's price on a continuing monthly fee that doesn't contribute to ownership of the vehicle.
Wait so, if they're charging full price for a car, and then charge for the battery... Aren't they basically making double income on 1 vehicle purchase, basically negating affordability, shouldn't they be charging like half that cost for the car itself since the battery is basically half of the car... Is this making us overpay for half of a car... Like a Hyundai ioniq5 has the battery with it and a warranty, and is the same price. Basically we are getting royally ripped off?
When I lived in a large city, my to work mileage was 20.4 miles. So 5 days a week X2 trips (there and back), and after one week, I would have to chew up 204 miles. This doesn't count and "lunch" drive miles, nor any weekend drive miles (grocery store, night out, etc). So yeah, the 'monthly' battery allotment would be chewed up in about a week. And my commute wasn't a huge commute by comparison to some. So good luck with that subscription model pricing.
Imagine having to pay a subscription fee for your gas on top of filling it. I don't think this is a good business practice. Just put slap a warranty on it with the option to extend it for those who drive hundreds of miles a month