VinFast to start Canadian deliveries in November

VinFast, an electric carmaker backed by Vietnam’s richest man, will ship about 5,000 vehicles to customers in the United States, Canada and Europe early November and begin global deliveries a month later, according to a statement from parent company Vingroup JSC.

VinFast delivered its first international model, the VF8 sports utility vehicle, to Vietnamese customers Saturday at its factory in the northern port city of Haiphong. 

VinFast, which said in July that it had signed agreements with banks to raise at least US$4 billion to help its US expansion, has about 73,000 global reservations for its EVs, according to the company. It has secured about US$1.2 billion in incentives for its planned EV factory in North Carolina, where it intends to start production in 2024, according to the auto manufacturer.