VinFast to Use Blockchain for Reservations and Benefits, Unveils New SUVs


VinFast has announced it has begun a reservation program for its first two EVs, the VF e35 and e36, which started at the 2022 CES. The Vietnamese brand wants to apply blockchain technologies in the reservation certification process, as well as in payments and even ownership. This would be a world first. The reservation portal was opened at CES for the American market, but customers from Vietnam can also put their names on the list for a new VinFast. Those who sign up until April 5, 2022, when the reservation phase is closed, will be automatically enrolled in the VinFast Pioneer’s Gratitude to Pioneers program. Those who want to reserve a VinFast in the U.S. must deposit $200 to make a reservation, and will receive e-vouchers of 3,000 USD for the VF e35 or 5,000 USD for the VF e36. Moreover, through blockchain technology, the customers will also get a VinFast NFT to certify their membership as a pioneer in the company. It is worth noting that the VF e35 has been renamed VF8, while the VF e36 is dubbed VF9 in the U.S. to simplify everything. It also eliminates any potential confusion with BMWs from the ’90s, if you don’t mind us mentioning it. Once their membership is transferred to their blockchain wallet, customers will be able to see their benefits, as well as be open to future benefits and services from the company. While also available in Vietnam, blockchain technology will first be applied to the reservation process in the U.S. In the case of reservations in Vietnam, the fee is 10 million VND (ca. $440) for a credit of 150 million VND (ca. $6,565) towards the purchase of the VinFast e35. Those who get the VF e36 will be eligible for a discount of 250 million VND (ca. $10,938). Regardless of who makes the reservation, the fees are refundable in both markets. VinFast has already announced that pricing for the European market, as well as other markets, will be announced at a later date. In any case, the Vietnamese brand is aiming for the U.S. market, while also offering products in its homeland. The company’s previously announced strategy involves an “attractive battery leasing policy,” as well as “competitive pricing models,” all complete with a ten-year warranty in all markets. The latter is a bold claim, but making it transferrable would help maintain resale values. Also, at the 2022 CES, VinFast unveiled its VF5, VF5, and VF7 SUVs. Now, its range has a total of five vehicles. The VF5 is an A-segment SUV, the VF6 is in the B-segment, and it is also an SUV, while the VF7 is a C-segment SUV. The VF8, formerly known as the e35, is a D-segment SUV, while the VF9, which used to be referred to as the VF e36, is an E-segment SUV. Confusing? Not so much. The entire VinFast range was designed by Pininfarina and Torino Design, and all models come with the company’s signature wing-shaped LED running light in the front grille between the headlights. While the VF5, VF6, and VF7 have just been revealed, the VF8 and VF9 can already be ordered, as we explained above. The smaller VF8 starts at $41,000, while the larger VF9 starts at $56,000. The company’s global CEO, Le Thin Thu Thuy, has announced that VinFast will build a “Gigafactory” in the U.S. but has not specified when that will happen.