Photo credit: VinFast
VinFast has begun selling its VF DrgnFly electric bike in the US, retailing at US$2,599, the company said in a statement.
Revealed at this year’s Consumer Electronics Show in January, the VF DrgnFly offers smart features to its riders, connecting to a mobile app that handles its various driving modes and tracks ride data. The bike also has an energy optimization system that lets it travel up to 68 miles on one charge.
Customers can order through VinFast’s US dealers, with each bike coming with a two-year warranty.
Vingroup, VinFast’s parent firm, has been busy with scaling up over the past year. It outlined major expansion efforts in Indonesia, India, and the Philippines, which would cost VinFast hundreds of millions of US dollars.
Pham Nhat Vuong, founder of VinFast, has also launched adjacent ventures like e-motorcycle hailing service Green and Smart Mobility as well as EV charging station ecosystem V-Green.
However, this expansion presents a financial risk to Vingroup, with VinFast losing a total of US$5.7 billion in the last three years, Reuters reported. In 2023, the EV firm’s sales were below its 50,000 target, landing at just 35,000.
VinFast said it plans to triple its sales this year, though that comes amid global EV demand bearing uncertainty after a sluggish 2023.
See also: Vietnamese battery startups eye more green financing to power renewables push
Editing by Lorenzo Kyle Subido
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