By Ben Klayman

(Reuters) – Vinfast, a Vietnamese automaker, will start taking pre-orders for the U.S. market of its VF (NYSE) e35/e36 electric SUVs during the first half 2022. They expect to be delivering the vehicles by the end the year. Global Chief Executive Michael Lohscheller stated that.

VinFast will present two new EV models (VF e35 & VF e36) at the Los Angeles Auto Show in November 2021, marking the official launch of the American market, he stated to Reuters.

Lohscheller, a Vinfast executive and former Volkswagen (DE) and Opel executive, stated that the company will begin delivering its first EVs Vietnam in December.

Vingroup’s automobile arm, Vinfast, has a California office and plans to open 60 showrooms in the United States next year.

Vinfast hopes to take on Tesla (NASDAQ 🙂 and the other major automakers next year by launching EV sales in Europe and America. Vingroup is funding the plan. It was originally founded in post-Soviet Ukraine as an instant noodles business. Now, Vingroup has interests that span real estate, resorts and schools.

Vinfast, which was established in 2017, aims to challenge the market for vehicle sizes and prices. Vinfast’s cars will be available with a battery lease program. This means that the price of the battery (one of the most costly components of an electric vehicle) will not be added to the final price.

VinFast has an assembly facility in Vietnam and plans to sell most of its U.S. products online. Lohscheller indicated that they will be “keeping an eye on possible manufacturing plants in the U.S.”

Global EV sales will be 15,000 units next year, down from 56,000 as a result of the shortage of global semiconductor chips.

Vinfast said that in an effort to finance its growth, it will be seeking a US public listing.

Lohscheller explained that VinFast is working on an IPO plan in the U.S. but the specific timeframe will depend upon the market and other circumstances. We’ll provide further information when we have it.