Vietnamese EV maker VinFast has announced a new CEO at the helm, and an aggressive new strategy to expand globally while gaining a foothold in the US. In addition to announcing plans for a $2 billion in factory in India, it just announced a fresh crop of dealership openings in the US, with plans to expand the network to 125 points of sale across the country.
After opening up its first dealership in North Carolina at the end of December, VinFast has announced partnerships with five dealers in four states. VinFast vehicles are sold at Leith VinFast in North Carolina; Smith Haven VinFast in New York; Principle VinFast Grapevine in Texas; Hiley VinFast of Fort Worth, Texas; and VinFast Wichita, in Kansas. For now, customers can drive off with a VinFast VF8, with the VF 6, VF 7, and VF 9 models available as soon as they launch in the US.
VinFast is also building its $4 billion EV factory in Chatham County, North Carolina. North Carolina’s VinFast manufacturing plant is expected to produce as many as 150,000 vehicles annually after it is completed in 2025.
VinFast targets US market with new dealerships in more states
After a lackluster and delayed launch of its VF 8 model in the US, the company decided to put some new plans in place. It has been 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.
“This is an important step affirming VinFasts commitment to expanding its retail sales network and shortening the time to deliver our products to market,” said Tran Mai Hoa, deputy CEO of sales and marketing. She added: “Collaboration with dealers allows VinFast to quickly bring US customers high-quality electric vehicles, good price and excellent aftersales policies, further promoting our mission of a sustainable future for all.”
VinFast has also appointed Pham Nhat Vuong, founder and chairman of parent group Vingroup Joint Stock Company, as its new CEO, and its fourth since the company’s founding. Current CEO Le Thi Thu Thuy will become head of the board of directors, according to a statement from VinFast.
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 about $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 has made its mark on its home turf in Vietnam, but in the US, it’s been a major underdog. Timing hasn’t been in its favor either, since it’s arriving at a time of intense EV pricing pressure coming from heavy hitters like Tesla. And while the company has huge global ambitions, sales volumes have been small – so it has a lot to prove. In California, where the company has some 13 retail spaces across the state, data from Experian showed only 237 units had been registered through September. Still, this new plan, and the potential of bringing a version of its low-cost VF 3 to the US, could turn the tide. VinFast says it expects to sell 750,00 vehicles a year globally by 2026.
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BYD’s electric hot hatch has officially arrived in Europe. The BYD Dolphin Surf is the European version of its best-selling (and most affordable) EV, the Seagull. Despite its small size, the Dolphin Surf has “huge potential” with prices starting at just 23,000 euros ($26,000).
Meet the BYD Dolphin EV for Europe
With over 55,000 units sold last month alone, the Seagull was BYD’s top-selling EV in April. Last year, it was second, trailing only Tesla’s Model Y as the best-selling electric vehicle in China. Now, you can buy it in Europe.
BYD launched the Dolphin Surf on Wednesday, a longer version of the Seagull with a few upgrades. Although not quite as cheap as the Seagull, which starts at under $10,000 (69,800 yuan) in China, the electric hatch is still one of the most affordable in Europe.
The Dolphin Surf is available in three different versions in Europe, with prices starting at 22,990 euros ($26,000) for the standard range model with a WLTP driving range of 220 km (137 miles).
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Until June, BYD is offering a discounted price of just 19,990 euros ($22,700). The longer-range Dolphin Surf starts at 24,990 euros and has a 507 km (315 mile) range.
BYD Dolphin Surf EV (Source: BYD)
BYD said the compact electric city car is “built for the big city” with a sporty new design and the automaker’s advanced in-car technology.
Built for the big city
The interior is similar to other BYD vehicles, with a 10.1″ rotating touchscreen (with Apple CarPlay and Android connectivity) at the center. It’s also equipped with “Hi BYD,” a new voice control feature.
Although it may be compact, the Dolphin Surf has over 20 “clever storage areas” and a boot capacity of up to 316 L. With the rear seats folded, the electric hatch offers up to 1,037 L of space.
BYD Dolphin Surf EV interior (Source: BYD)
Like its other new vehicles, the Dolphin Surf is equipped with BYD’s Advanced Driver Assistance System (ADAS) as standard, which includes features like intelligent cruise control, automatic emergency braking, and lane-departure assist.
BYD will introduce the four-seater variant in June. With prices expected to start at around 25,000 euros ($28,300), it’s expected to compete with the Renault R5 and Volkswagen’s upcoming ID.2 electric car.
BYD’s region director, Maria Grazia, said during the launch event in Berlin (via Reuters) that “The compact segment is the next frontier for electrification in Europe,” adding “We think this market has huge potential.”
Electrek’s Take
BYD is leading EV sales in China, and it’s not even close. The automaker is coming off its best sales week of the year with nearly 68,000 vehicles registered from May 5 to May 11, up 15% from the previous week.
To give you some perspective, Tesla delivered just 3,070 vehicles in China in the same week, down 69% from the same week in 2024.
Will the Dolphin Surf see the same demand in Europe? With competitive prices, range, and features, it could be BYD’s most important EV so far. It’s the brand’s 10th vehicle to launch in Europe, following the Sealion 07, a smart midsize electric SUV.
According to S&P Global Mobility, BYD’s sales could double in Europe this year to around 186,000. By 2029, that number could reach around 400,000. Although it’s not slated for European production, the report notes that the Dolphin Surf’s “pricing strategy ensures competitiveness in the EU even with tariffs.”
Will the BYD Dolphin Surf become a top-selling EV in Europe? Leave us a comment below and let us know your thoughts.
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The original Fiat Panda 4×4 was an 80s icon and early entry into the compact SUV movement. Today, the funky electric Panda Grande is still carrying that torch, but it’s clear that someone at Fiat wants to lean into the off-road segment just a bit harder – and that’s what this new Grande Panda 4×4 Manifesto is all about.
First shown during the Grande Panda Hybrid media drive, Fiat is calling the new 4×4 Grande Panda Manifesto concept “the direct heir of the Panda 4×4,” and hopes it can act as a reminder of the 1983 original’s efficient, off-road legacy.
The Grande Panda that debuted last year is available with either a 108 hp 1.2 liter gas engine or a 111 hp electric motor powering the front wheels. The 4×4 concept starts with that electric motor up front, but adds an “innovative” e-axle at the rear of the tiny grande crossover, fully delivering on the “4×4” promise of a powered rear axle despite the lack of a conventional/traditional driveshaft or transfer case.
For their part, Fiat’s people seem pretty proud of the new setup:
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From a technical standpoint, the Grande Panda 4×4 concept is thought with an electrified innovative rear axle. This feature would enable the vehicle to deliver impressive performance in urban settings and on more demanding terrain. It’s a deliberate choice that underscores FIAT’s ongoing commitment to embracing increasingly sustainable and forward-looking technologies, all while preserving the adventurous spirit and everyday practicality that have always defined the Panda 4×4.
And I promise: Fiat really, really wants to build this thing. Watch this space for more announcements, specs, and (eventually) pricing information.
Electrek’s Take
Fiat Grande Panda 4×4 Manifesto; via Stellantis.
As my aunt Mary would say, Stellantis needs to get down from that cloud and realize that Jeep is not, should, and will not ever be the high-end luxury brand it hopes it will be. Once it does, it can slap a seven-slot grille on this Grande Panda 4×4 Manifesto concept, throw in some removable doors and a folding canvas moonroof, re-brand it as a modern Willys for about $30K, and watch the money roll in.
Fight me.
Make it a cheap Jeep
Fiat Grande Panda 4×4 Manifesto as a cheap Jeep; via Chat GPT.
An Xpeng booth at the 2025 Spring International Auto Show in Qingdao, Shandong province, China, on March 7, 2025.
Cfoto | Future Publishing | Getty Images
Xpeng shares jumped as much as 6% in premarket trading in New York, after the Chinese electric vehicle upstart reported first quarter earnings that were ahead of expectations.
The stock had pared gains to rise 5.23% at 12:44 p.m. London time.
Here’s how Xpeng did in the first quarter versus LSEG estimates:
Revenue: 15.81 billion Chinese yuan ($2.18 billion), up 141.5% year-on-year and comparing with 15.1 billion yuan expected.
Net loss: 660 million yuan, versus a 1.4 billion yuan loss expected and down from 1.37 billion yuan last year.
Xpeng said it anticipates second-quarter revenue will come in between 17.5 billion yuan and 18.7 billion yuan, which was also surpassed consensus estimates.
The Guangzhou-headquartered firm also said it expects to deliver between 102,000 and 108,000 of its electric cars in the second quarter of this year, representing a year-over-year increase of around 237.7% to 257.5%.
Xpeng delivered 94,008 in the first three months of this year.
The company contended with a difficult 2023, when it faced slowing growth and mounting losses because of rising competition in China’s electric vehicle market and increasing economic uncertainty in its home market.
But the company has been aggressive with new products, launching a mass market car last year and a refreshed version of its flagship X9 in April in 2025, helping to improve its fortunes over the last 18 months or so.
That, along with strong deliveries this year, has helped fuel a 66% year-to-date rally in its share price, which has finally helped lift its stock above the $15 per share price that it went public with in 2020. Still, the stock is well off its record high of more than $50 per share hit in October 2021.
Xpeng is now facing an even bigger raft of competition from new entrants like Xiaomi and from incumbents like BYD.
Still, the company is maintaining momentum. Xpeng delivered 35,045 electric vehicles in April, sustaining its record of putting out more than 30,000 vehicles for the sixth consecutive month.