VinFast cuts VF 8 EV lease prices by over 50% with deliveries kicking off March 1
US customers are gearing up for the first VinFast electric vehicle deliveries slated to begin this week. As we approach the big day, VinFast has marked down VF 8 City Edition lease prices by over 50%.
After delivering the first EV sold in Vietnam, VinFast, the Vietnamese electric vehicle manufacturer under the Vingroup conglomerate, set its sights on expanding its reach globally.
The EV maker shipped its first batch of 999 VF 8 electric vehicles to the US in December, marking a new era for the automaker. VinFast said at the time that it was the first batch of exports as it works to satisfy the 65,000 global orders placed for the VF 8 and VF 9 models.
Despite the quick work in bringing its EVs to the US, VinFast has run into a few hurdles since. After Tesla slashed prices by up to 20% ($13,000 off) in early January, it created a spillover effect in the market.
Although the EV leader has since increased its prices, several automakers have made adjustments in response, including Ford dropping Mustang Mach-E prices between $600 and $5,900.
VinFast updates VF 8 prices and delivery date
VinFast was not immune to the aftereffects. The company revealed it was offering new promotional pricing on the VF 8 City Edition last month to keep pace, including a new MSRP of $49,000 and a $3,000 direct discount.
For a lease, the VF 8 City Edition was initially priced at $599 per month for 24 months. According to the automaker’s website Monday, the VF 8 Eco trim is available for $399 per month for a 24-month lease with $5,174 due at signing.
Despite initially aiming for the first VF 8 deliveries in December, the company delayed it to update the EVs with the latest software.
According to VinFast’s latest press release, the first VF 8 deliveries for US customers will happen on March 1. The company plans to hold a delivery event at its VinFast stores in California. VinFast’s retail locations include:
- Santa Monica
- Commerce (Citadel)
- San Diego
- San Mateo (Hillsdale)
- Corte Madera
- Berkeley
- Marina Del Rey
- Canoga Park (Topanga)
- Irvine (Spectrum)
- Torrance (Del Amo)
For those unable to attend, you can either have it scheduled to be delivered at home or pick it up at the store beginning on March 2.
The VF 8 City Edition comes in two trims – the Eco and Plus models. The VF 8 Eco features 207 miles EPA range with 384 hp, while the VF 8 Plus comes with 191 miles EPA range and 402 hp.
VinFast recently got approved to begin construction on its first US-based electric vehicle manufacturing plant, which will help the company streamline production and take advantage of the EV tax credit.
The company says its second batch of EVs, including the VF 9 City Edition, will be delivered in the second quarter of 2023.
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Environment
U.S. crude oil falls below $60 a barrel to lowest since 2021 on tariff-fueled recession fears
A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025.
Pavel Mikheyev | Reuters
U.S. oil prices dropped below $60 a barrel on Sunday on fears President Donald Trump’s global tariffs would push the U.S., and maybe the world, into a recession.
Futures tied to U.S. West Texas intermediate crude fell more than 3% to $59.74 on Sunday night. The move comes after back-to-back 6% declines last week. WTI is now at the lowest since April 2021.
Worries are mounting that tariffs could lead to higher prices for businesses, which could lead to a slowdown in economic activity that would ultimately hurt demand for oil.
Oil futures, 5 years
The tariffs, which are set to take effect this week, “would likely push the U.S. and possibly global economy into recession this year,” according to JPMorgan. The firm on Thursday raised its odds of a recession this year to 60% following the tariff rollout, up from 40%.
Fueled by incentives from the Illinois EPA and the state’s largest utility company, new EV registrations nearly quadrupled the 12% first-quarter increase in EV registrations nationally – and there are no signs the state is slowing down.
Despite the dramatic slowdown of Tesla’s US deliveries, sales of electric vehicles overall have perked up in recent months, with Illinois’ EV adoption rate well above the Q1 uptick nationally. Crain’s Chicago Business reports that the number of new EVs registered across the state totaled 9,821 January through March, compared with “just” 6,535 EVs registered in the state during the same period in 2024.
Those numbers represent more than 50% growth in EV registrations – far beyond the expected 12% first-quarter increase nationally being projected by Cox Automotive. (!)
What’s going on in Illinois?
While President Trump and Elmo were running for re-election, they campaigned on the threat promise of canceling the $7,500 federal tax credit for EVs. Along with California Governor Gavin Newsom, Illinois’ Governor JB Pritzker made countermoves – launching a $4,000 rebate for new electric cars and up to $1,500 for the purchase of a new electric motorcycle.
At the same time, the state’s largest utility, ComEd, launched a $90 million EV incentive program featuring a new Point of Purchase initiative to deliver instant discounts to qualifying business and public sector customers who make the switch to electric vehicles. That program has driven a surge in Class 3-6 medium duty commercial EVs, which are eligible fro $20-30,000 in utility rebates on top of federal tax credits and other incentives (Class 1-2 EVs are eligible for up to $7,500).
We covered the launch of those incentives when the program was announced at Chicago Drives Electric last year, but the message here is simple: incentives work.
SOURCES: Chicago Business, Ray Cunningham; featured image by the author.
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The electric construction equipment experts at XCMG just released a new, 25 ton electric crawler excavator ahead of bauma 2025 – and they have their eye on the global urban construction, mine operations, and logistical material handling markets.
Powered by a high-capacity 400 kWh lithium iron phosphate battery capable of delivering up to 8 hours of continuous operation, the XE215EV electric excavator promises uninterrupted operation at a lower cost of ownership and with even less downtime than its diesel counterparts.
XCMG is delivering on part of that reduced downtime promise with the lower maintenance and easier repair needs of electric equipment, and delivering on the rest of it with lickety-quick DC fast charging that can recharge the machine’s massive battery in 1.5-2 hours … but that’s not the slick bit. The XCMG XE125EV can be powered up without leaving the job site thanks to its BYD battery swap technology.
We first covered XCMG and its battery swap technology back in January, and covered similar battery-swap tech being developed by MOOG Construction offshoot ZQUIP, as well – but while XCMG’s battery tech has been in production for several years, it’s still not widely known about in the West (even within the industry).
XCMG showed off its latest electric equipment at the December 2024 bauma China, including an updated version of its of its 85-ton autonomous electric mining truck that features a fully cab-less design – meaning there isn’t even a place for an operator to sit, let alone operate. And that’s too bad, because what operator wouldn’t want to experience an electric truck putting down 1070 hp more than 16,000 lb-ft of torque!?
Easy in, easy out
The best part? All of the company’s heavy equipment assets – from excavators to terminal tractors to dump trucks and wheel loaders – all use the same 400 kWh BYD battery packs, Milwaukee tool style. That means an equipment fleet can utilize x number of vehicles with a fraction of the total battery capacity and material needs of other asset brands. That’s not just a smart use of limited materials, it’s a smarter use of energy.
You can check out all the XE215EV’s specs at this tear sheet, and get an in-person look at the Chinese company’s latest electric excavator this week in Munich, Germany.
SOURCE | IMAGES: XCMG.
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