VinFast partners with FCA bank ahead of the European launch, unveils subscription prices for 3 countries

Written by Cláudio Afonso | | LinkedIn | Twitter

VinFast announced on Thursday a partnership FCA Bank to provide leasing contracts for the European markets. The electric vehicle maker also unveiled the VF8 and VF9 monthly subscription prices for three European countries: Germany, France and The Netherlands.

VF 8 model monthly subscription will be available from €499 in Germany / €599 in France and €699 in the Netherlands while the VF 9 model will start from €699 in Germany / €899 in France and €799 in the Netherlands. The electric vehicle maker monthly payment deals combine vehicle and battery subscriptions.

In Germany, the monthly leasing cost of a VF 8 will start from €499. Although the first installment is €8,650, customers only have to pay the €150 reservation fees. Most of the remaining cost is reduced by the €6,000 government bonus (for delivery in 2022) and a €2,500 e-voucher from the VinFirst program.

A monthly leasing contract for a VF 9 will start from €699 per month. The first installment is €11,350, and customers only have to pay €2,150 for the deposit and reservation fees. The €9,200 remaining cost is composed of a €5,000 government bonus (for delivery in 2022) and a €4,200 VinFirst e-voucher.

In France, the monthly payment of a VF 8 will start from €599. Although the first installment is €4,650, the down payment ultimately drops down to just €1,150 after deducting a €1,000 government bonus (where eligible) and a €2,500 VinFirst e-voucher. 

A leasing contract for a VF 9 will start from €899 per month, and the first installment of €6,350. However, after deducting the €4,200 VinFirst e-voucher, the resulting down payment is just €2,150. All leasing contracts in Germany and France have the same period of 37 months.

In the Netherlands, the leasing contracts are for 60 months. The monthly cost of a VF 8 will start from €599. After deducting a total value of a €2,500 VinFirst e-voucher, the first installment is only €2,350, which includes a €2,200 customer deposit and reservation fee of €150.  

A leasing contract for a VF 9 will start from €799 per month. After the VinFirst e-voucher of €4,200 is reduced from the first instalment of €9,450, the final down payment is only €5,250, which includes a €5,100 customer deposit and reservation fees of €150. 

Mr. Emmanuel Bret – VinFast Deputy CEO of Global Sales & Marketing, said: “VinFast relentlessly innovates to make premium EVs widely accessible. Such a partner with the expertise and reach of FCA Bank gives VinFast great support in delivering on this pledge. With over 100 years of experience in the sector, FCA Bank serves more than 1.7 million customers across 18 European countries and is ideally positioned to facilitate VinFast’s future expansion plans while offering customers additional assistance and peace of mind from a renowned financial services expert.”

Under the agreement, FCA Bank will provide payment collection services and will work to enhance customers’ online journeys through the provision of referral tools and relevant white label online applications, including affordability and finance calculators. VinFast and FCA Bank share a joint commitment to ensuring competitive pricing in each market and will also evaluate the possibility of offering vehicle dedicated insurance products to VinFast customers.   

“We are proud to be alongside VinFast. This new strategic partnership enhances our experience, developed by working with one of the innovative, fast-growing international automotive brands,” said Giacomo Carelli, CEO and General Manager of FCA Bank. “In doing so, FCA Bank further increases the number of its major partners to include an innovation-oriented company like VinFast, to which we are bound by the innovation and sustainability drivers. For us, this is a determining step on the road to becoming the bank of reference for mobility in Europe”. 

FCA Bank mainly operates in the automotive financing sector in Europe and cooperates with major automotive brands to provide consumers with financial solutions for car leasing and purchasing. The partnership with VinFast further demonstrates FCA Bank’s commitment to a strategy for encouraging the spread of sustainable mobility. As one of the bank’s main drivers of growth, the pledge is fully supported by Crédit Agricole Consumer Finance, which will acquire 100% of the capital of the Bank with the ambition of making it a pan-European player in car financing, leasing, and mobility.

Recently, VinFast announced a partnership with Electrify America giving users the access to the network of ultra-fast charging stations across the U.S. Delivering a convenient and seamless charging experience, Plug & Charge is an innovative technology that allows drivers of capable vehicles to pay for a charging session by simply plugging in their EV, the company said.

On March 29, VinFast and the state of North Carolina signed a memorandum of understanding on the construction of the plant with an investment of up to $2 billion in Phase I at the selected mega site in Chatham County, North Carolina.

Written by Cláudio Afonso | | LinkedIn | Twitter