VinFast Receives Order for More Than 2,500 VF 8 and VF 9 Vehicles From Autonomy™

Rhea-AI Summary

VinFast has received a significant order from Autonomy for over 2,500 VF 8 and VF 9 electric vehicles at the 2022 LA Auto Show. This marks VinFast's largest corporate order and underscores its growing international market presence. Autonomy, which had earlier planned to order only 400 vehicles, aims to enhance consumer access to VinFast's electric offerings through a flexible subscription model. Deliveries are set to begin within 12 months as VinFast expands into U.S. markets, signifying a promising step for the company in the EV landscape.

Positive

• VinFast secured an order of over 2,500 vehicles from Autonomy, its largest corporate order to date.
• This partnership with Autonomy enhances VinFast's exposure in the U.S. EV market.
• Autonomy's subscription model offers flexible access to VinFast's electric vehicles.

Negative

• None.

LOS ANGELES--(BUSINESS WIRE)-- At Los Angeles Auto Show 2022 (LA Auto Show 2022), VinFast announced receiving an order from Autonomy™ — the nation’s largest electric vehicle subscription company, for more than 2,500 VF 8 and VF 9 vehicles. This is VinFast's largest corporate order to date, and one of Autonomy's largest electric vehicle orders, affirming the reception of the international market for the Vietnamese automaker.

In August 2022, Autonomy, ordered 23,000 electric vehicles across 17 different global automakers, including VinFast, to operate its subscription services. At that time, Autonomy planned to order 400 VF 8 and VF 9 models and now has officially increased the order to more than 2,500 vehicles.

Customers can learn about VinFast vehicles at any of VinFast’s six stores in California. Customers interested in subscribing to a VinFast through Autonomy can sign up via Autonomy's mobile app and receive the car directly from Autonomy's AutoNation pickup locations (in partnership with AutoNation, Inc. (NYSE: AN) or have it delivered to their home.

According to the agreement, VinFast will begin delivering vehicles to Autonomy over the next 12 months, as it starts exporting vehicles to international markets.

Le Thi Thu Thuy, Vice Chairwoman of Vingroup and Chairwoman of VinFast, shared: "This is an exciting moment for VinFast as our vehicles are about to enter the U.S. market. The order from Autonomy is a testament to the trust we have built in the market. Bringing the VF 8 and VF 9 to Autonomy's EV subscription fleet will give consumers yet another way to experience our brand and discover the benefits of our premium smart EVs. Collaborating with Autonomy will also help us quickly achieve our goal of accelerating the electrified mobility revolution and building a sustainable future for everyone."

"We are excited to add VinFast to our subscription lineup and help raise U.S. consumers' interest and awareness of VinFast and their luxury electric vehicles through Autonomy's car subscription. Autonomy’s affordable month-to-month model makes it much easier for consumers to make the switch to an electric vehicle and to consider new brands and models on the market.” - Scott Painter, Founder and CEO of Autonomy.

Autonomy's car subscription model offers the fastest, easiest and cheapest way for consumers to get an electric vehicle without long-term debt or the commitment that comes with buying or traditional leasing. Autonomy's monthly payment covers the traditional costs of ownership, including routine maintenance, roadside assistance (limitations apply), and standard wear and tear on tires. Autonomy's car subscription packages are also fully integrated with insurance for qualified subscribers.

Autonomy subscribers can pay their subscription entirely on their credit card or through their bank account. They also have the flexibility to subscribe month to month after a three-month minimum hold period. Booking an Autonomy subscription and customizing the monthly payment can be done entirely on the app (Google Play Store or Apple App Store). Autonomy is also available for delivery to subscribers within a few weeks, instead of the six- to nine-month wait for vehicles acquired through a conventional loan or lease.

In addition to VF 8 and VF 9, VinFast also showcases VF 6 and VF 7 models presented in segments B and C at LA Auto Show 2022. VinFast has already started delivering the VF 8 to Vietnamese customers and the VF 8 and VF 9 are currently open for global reservations. VinFast also offers flexible sales options for customers purchasing vehicles with batteries or with a battery subscription program. VinFast's EVs are also warranted for up to 10 years — one of the best warranty policies in the market.

About VinFast

VinFast — a member of Vingroup — envisioned to drive the movement of global smart electric vehicle revolution. Established in 2017, VinFast owns a state-of-the-art automotive manufacturing complex with globally leading scalability that boasts up to 90% automation in Hai Phong, Vietnam.

Strongly committed to the mission for a sustainable future for everyone, VinFast constantly innovates to bring high-quality products, advanced smart services, seamless customer experiences, and pricing strategy for all to inspire global customers to jointly create a future of smart mobility and a sustainable planet. Learn more at https://vinfastauto.us.

About Vingroup

Established in 1993, Vingroup is one of the leading private conglomerates in the region, with a total capitalization of $35 billion USD from three publicly traded companies (as of November 4, 2021). Vingroup currently focuses on three main areas: Technology and Industry, Services, and Social Enterprise. Find out more at https://www.vingroup.net/en.

About Autonomy™

Autonomy is a technology company on a mission to make access to mobility easy and affordable through car subscriptions. The company was founded by auto retail, auto finance, and auto insurance disruptors Scott Painter and Georg Bauer, who founded Fair, the first-ever used-vehicle subscription offering, pioneering the Car-as-a-Service (CaaS) category. Building upon that experience, Autonomy has created a turnkey vehicle subscription platform for consumers and the automotive industry that enables vehicle subscriptions to scale profitably and become a mainstream alternative to traditional car buying. Autonomy is innovating through technology, finance, and insurance to power car subscriptions for the battery, electric vehicle, and zero-emissions vehicle sectors. Autonomy relies on partnerships with automakers and brick-and-mortar car dealerships to provide benefits to both consumers and the industry. Autonomy represents freedom from long-term debt, freedom from long-term commitments, and even freedom from fossil fuels. It means new choices and more control over your financial well-being. Autonomy is based in Santa Monica, California.

Follow Autonomy on LinkedIn, Twitter, Instagram, Facebook, YouTube, and TikTok.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221117005480/en/

Autonomy PR Contacts:

Shadee Malekafzali

Head of Investor Relations and Corporate Communications

shadee@autonomy.com

Matt Swope

Corporate Communications Manager

matts@autonomy.com

VinFast PR Contacts:

Jeff Holland

Director of Communications

Jeff.Holland@VinFastAuto.com

Source: Autonomy

FAQ

What recent order did VinFast receive from Autonomy?

VinFast received an order for over 2,500 VF 8 and VF 9 electric vehicles from Autonomy.

How many vehicles did Autonomy initially plan to order from VinFast?

Autonomy initially planned to order only 400 VF 8 and VF 9 models before increasing the order to over 2,500.

When will VinFast start delivering vehicles to Autonomy?

VinFast is set to begin delivering vehicles to Autonomy over the next 12 months.

What are the VF 8 and VF 9?

The VF 8 and VF 9 are electric vehicle models produced by VinFast.

How does Autonomy's subscription model benefit consumers?

Autonomy's subscription model allows consumers to access electric vehicles month-to-month without long-term debt or commitment.