VinFast, Vietnam’s first local carmaker founded by the country’s richest man, has taken its first luxury foray with the unveiling of the VinFast President. The luxury SUV will cost a whopping $ 164,000 (that’s RM 684,716) and limited to only 500 units.
The President is VinFast’s very ambitious project to go up against SUVs like the Toyota Land Cruiser and Nissan Patrol. Ambitious because, like the rest of the world, the country is currently experiencing an economic downturn due to the coronavirus pandemic.
According to the Nikkei Asian Review, Rong Viet Securities, a financial service company in Vietnam, reported that the country’s automotive sales have fallen roughly 30 percent in the first half of the year, while the luxury segment fell 10 percent.
By launching a luxury vehicle at this time, VinFast is taking a very aggressive approach by using the lull in the global economy to try to make an impression for the brand.
The President is based on VinFast's existing Lux SA2.0 SUV. Yes, under the glossy design by Pininfarina, the President is built on the previous generation F15 BMW X5 platform. But the President will be powered by a 6.2-litre V8 engine that crunches 426 PS and 624 Nm mated to an 8-speed automatic transmission that sends power to all 4 wheels.
The President is capable of making the century sprint in 6.8-seconds and has a top speed of nearly 300 km/h.
Can you justify a car like the VinFast President that has close to zero reputation? VinFast is known to build cars with technology from partners like BMW and Bosch, but does it justify the close to RM 700k price tag?