VinFast VF 9 SUV aims to redefine Canadian EV market

MARKHAM, Ontario – VinFast (VFS), an emerging player in the electric vehicle (EV) market with a market capitalization of $7.25 billion, is positioning its VF 9 electric SUV as a competitive option in Canada’s growing segment for large, family-friendly electric vehicles. According to InvestingPro data, the company has demonstrated strong revenue growth of 64.5% over the last twelve months, though currently trades below its Fair Value. The company is banking on its comprehensive after-sales service and high-tech driving experience to meet the evolving demands of Canadian consumers.

The VF 9 offers an industry-leading 10-year or 200,000-kilometre vehicle warranty and an unlimited-kilometre battery warranty. This extensive coverage is part of VinFast’s strategy to alleviate concerns about the reliability and longevity of its vehicles. Additionally, the company provides comprehensive roadside assistance to further reassure buyers.

To address the common issue of charging anxiety among potential EV owners, VinFast has developed an all-in-one e-mobility service app that grants access to over 90,000 charging stations across North America. The app also allows drivers to remotely monitor their charging status, pre-condition the vehicle’s interior, and verify the security of their vehicle.

The VF 9’s interior is designed with premium comfort in mind, featuring spacious three-row seating and a 15.6-inch touchscreen infotainment system. The vehicle is equipped with a suite of advanced driver-assistance systems (ADAS), including adaptive cruise control, lane-keeping assist, automatic emergency braking, blind-spot monitoring, and parking assistance.

Performance-wise, the VF 9 is powered by dual electric motors producing 402 horsepower and offers an estimated range of 531 kilometres per charge, making it suitable for Canada’s diverse driving conditions.

VinFast’s introduction of the VF 9 with its competitive warranty, customer service, and refined driving experience aims to offer a compelling package for Canadians considering electric mobility. While InvestingPro analysis indicates the company faces profitability challenges with a -44.5% gross profit margin, the company’s strategy reflects a shift in the market where consumers are increasingly valuing the complete ownership experience alongside vehicle specifications. For deeper insights into VinFast’s financial health and market positioning, investors can access comprehensive Pro Research Reports, available exclusively on InvestingPro, covering over 1,400 US-listed companies.

This news is based on a press release statement from VinFast.

In other recent news, VinFast, a Vietnamese electric vehicle manufacturer, announced a 25% increase in its February EV deliveries within Vietnam, totaling over 12,500 vehicles. This brings the company’s total deliveries for the first two months of the year to nearly 23,000 units. Additionally, VinFast has partnered with Motech Automotive Service Centers in the Philippines to expand its service network, aiming to establish over 100 service workshops across the country this year. This move is part of VinFast’s strategy to cater to the growing demand for electric vehicles in the Philippines.

In a separate development, VinFast is reducing prices for most of its EV models by 2% to 14% starting this month. This price reduction is aimed at doubling the company’s sales in 2025 by making its vehicles more accessible to customers. The company will also discontinue its EV battery rental services to further reduce initial costs for buyers. These recent developments highlight VinFast’s aggressive expansion and sales strategies in the Southeast Asian market.

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