VinFast established in 2017 out of Hanoi, Vietnam, was founded by serial entrepreneur Pham Nhat Vuong — he’s Vietnam’s first billionaire and got his start in business selling instant ramen in the Ukrainian market.

They plan to sell two all-electric sport-utility vehicles in the U.S. to start: a midsize SUV, called the VF 8, that starts at $40,700, and a larger VF 9, starting at $55,500. They also plan on bypassing the traditional dealer network (like Tesla, Rivian and Lucid) to sell directly to consumers.

But most intriguing of all, the company has built a novel pricing strategy. According to the WSJ:

“Unlike other EV rivals in the U.S., VinFast has a unique business model in which buyers pay one price for the vehicle, but then lease the battery for a monthly fee. The company offers two battery-subscription plans, costing anywhere from $35 to $160 a month, depending on

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