EV underdog VinFast to open first dealership in US
Vietnamese EV maker VinFast has announced that it will open doors to its first dealership in the US, in the same state where it is building a state-of-the-art $4 billion EV factory. The automaker is partnering with North Carolina’s Leith Automotive Group to start selling its fully electric cars in the state.
VinFast has announced a joint partnership with Leith Automotive Group to start selling its vehicles – the VF 8 crossover to start and more models soon thereafter – at a dealership in Carey Auto Park, North Carolina, not far from the EV factory in Chatham County. Leith VinFast, which is what it will be dubbed, will offer sales, repairs, maintenance and parts for VinFast vehicles.
VinFast’s global chief executive told Reuters that the company is switching up its distribution model, which was previously based on Tesla’s direct-to-consumer model, to what it calls a “hybrid” model that includes dealers. North Carolina’s VinFast manufacturing plant is expected to produce as many as 150,000 vehicles annually after it is completed in 2025.
VinFast, which has been delivering batches of cars in California since March, told Reuters that it has received 70 applications from dealers in the US, which means the brand potentially could start distributing its EVs through 125 points of sales around the country once approvals are put in place.
In its home country, VinFast has recently launched a $20,000 electric minicar called the VF 3, and Electrek has reported that the company is considering bringing it to the US, alongside the VF 8 and high-end VF9, which it already sells stateside in small batches. The 2024 VF 8 starts at abut $47K and goes up to about $53K depending on trim and options, with the Eco model offering the highest range at 264 miles per charge.
Electrek’s Take
VinFast, sort of an EV underdog, is landing in the US at a time of high EV pricing pressure coming from heavy hitters like Tesla. And while it has huge global ambitions, sales volumes have been small – so it has a lot to prove. It sold just 11,315 for the first half of 2023, compared to Tesla’s more than 889,000 vehicles in the same period. VinFast has so far sold vehicles in California, where it has 13 showrooms across the state, but data from Experian showed only 237 units had been registered through September, according to CarScoops. It is looking to broaden its footprint in North America and Europe, however, and says it expects to sell 750,00 vehicles a year globally by 2026. Of course, bringing that low-priced minicar to the US could stack the odds in its favor, and Americans love an underdog.
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Germany is about to become home to Europe’s largest battery storage system – a massive 1 gigawatt (GW) / 4 gigawatt-hour (GWh) project in Jänschwalde, Brandenburg.
LEAG Clean Power GmbH and Fluence Energy GmbH, a subsidiary of US-based Fluence Energy (NASDAQ: FLNC), are teaming up to build the “GigaBattery Jänschwalde 1000.” The four-hour system will use Fluence’s Smartstack technology, its latest large-scale energy storage solution.
Once complete, Europe’s largest battery storage project will play a key role in stabilizing Germany’s grid and storing renewable power for when the sun isn’t shining and the wind isn’t blowing. It’s designed to deliver essential grid services, support energy trading, and boost energy security as the country phases out fossil fuels.
LEAG’s broader “GigawattFactory” plan combines solar and wind farms with flexible power plants and large-scale batteries across Germany’s Lusatian energy region. “By constructing gigascale storage facilities, we’re addressing one of the biggest challenges of the energy transition: ensuring constant power regardless of the availability of renewable energies,” said Adi Roesch, CEO of the LEAG Group.
Fluence CEO Julian Nebreda described the project as a “milestone for the energy future of Germany and Europe,” adding that it demonstrates how collaboration and cutting-edge technology can “transform the foundation of our economy and our everyday lives.”
The German government recently reaffirmed the importance of storage in building a secure and affordable clean power system. With this 4 GWh giant, LEAG and Fluence are implementing that priority in one of Europe’s most coal-heavy regions.
Read more: Battery boom: 5.6 GW of US energy storage added in Q2
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![The Genesis GV90 is shaping up to be a real stunner [Video]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2024/11/Genesis-GV90-ultra-luxury-SUV.jpeg?resize=1200,628&quality=82&strip=all&ssl=1)
The GV90 will be the brand’s largest, most luxurious SUV yet. With its official debut coming up, a production version of the Genesis GV90 was spotted in public for the first time, offering a closer look at the stunning SUV.
The Genesis GV90 is a stunning flagship SUV
Genesis vehicles already have a unique design that’s hard to miss. The big Creste Grille, Two-Line Quad Lamps, and smooth character lines offer a refined, luxurious look, but Genesis is planning to take it to the next level with the GV90.
The GV90 is an “ultra-luxe, state-of-the-art SUV,” according to Genesis. It will be the luxury brand’s new flagship vehicle and first full-size electric SUV.
We got our first look at the flagship SUV last March after Genesis unveiled the Neolun concept at the New York Auto Show.
The GV90 has been spotted out in public several times now, even flashing high-end features like coach doors and adaptive air suspension, but now, we are finally getting our first look at the production version in real life.
A new video from HealerTV shows the production version of the Genesis GV90 in action. Although it’s still covered in camo, you can see a few slight design changes from the concept shown last year.
The headlights and grille appear closer in design to its current vehicles, but other than that, the GV90 looks essentially the same up front as the Neolun concept.
Since it’s still covered, it’s hard to see where the headlights are connected at this point. From the side and rear, the GV90 looks identical to the concept.
Genesis has yet to announce an official launch date, but the GV90 could debut by the end of the year with sales expected to kick off in mid-2026.
The flagship SUV is rumoured to be the first vehicle to debut on Hyundai’s new eM platform, which it claims will “provide 50% improvement in driving range” compared to its current EVs. It will also serve as a tech beacon, featuring Hyundai’s most advanced connectivity and safety tech.
We will learn official prices and final specs soon, but one thing is for sure: it won’t be cheap. The Genesis GV90 is expected to start at around $100,000, but higher trims could cost significantly more with added features and options.
Genesis is also introducing its first hybrid, the GV80, next year, followed by its first extended-range electric vehicle (EREV) based on the GV70. The EREV is expected to launch in late 2026 or early 2027. There’s also an off-road SUV in the works, which will likely arrive as a 2027 model.
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