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I don't understand why people seem to gloat about Vinfast failing, or at least hoping they do. I don't care who is building what as long as its legal, but I hope it is successful because that is only good news for the state. Who wants business to come here and fail?
I see a lot more of them on the roads. The neighbor of one of my co-workers has one and it broke down in the middle of the road. I think that's a rite of passage for EV ownership, speaking from personal experience.
I see a lot more of them on the roads. The neighbor of one of my co-workers has one and it broke down in the middle of the road. I think that's a rite of passage for EV ownership, speaking from personal experience.
I think that's a rite of passage for car ownership in general. I sure remember my 2009 Spectra breaking down in the middle lane of 38 in Cherry Hill NJ...smh. It was only a few months old, too.
I hadn't seen a Cybertruck either until this week when I've seen 3 of them. One was in North Raleigh, the other two in West Cary/Apex, so it may have been the same one.
I appreciate vehicles that are unique and you don't see at every stop light, but it is uh interesting looking.
I hadn't seen a Cybertruck either until this week when I've seen 3 of them. One was in North Raleigh, the other two in West Cary/Apex, so it may have been the same one.
I appreciate vehicles that are unique and you don't see at every stop light, but it is uh interesting looking.
It's a Vietnamese carmaker that had some big ambitions but got a little too far out over their skis. They were supposed to build a large plant near Sanford, but that has been scaled back for now. The automotive press has not been too impressed with their cars so far.
I don't understand why people seem to gloat about Vinfast failing, or at least hoping they do. I don't care who is building what as long as its legal, but I hope it is successful because that is only good news for the state. Who wants business to come here and fail?
I've heard this to some degree. Is that because the people gloating about it are anti-EV folks? I don't see any other reason why you would want a car company to fail. It just means more competition for us buyers which is good.
I've heard this to some degree. Is that because the people gloating about it are anti-EV folks? I don't see any other reason why you would want a car company to fail. It just means more competition for us buyers which is good.
I don't think people actively want them to fail, but they are paying attention to what is happening with this company and concerned they may not be a great partner to our state as things evolve.
I think the other aspect is smugness... the company is rushing to market and hasn't focused on building a quality $55,000 car thinking the global consumer will fall for it (which they aren't). They are also now trying to build plants in the USA, India, and Indonesia to get subsidies from those governments at the same time their first plant in Vietnam isn't even making 10% of its potential capacity. They overstate their sales forecasts to pump the stock and are playing musical chairs with selling the cars to subsidiaries of Vingroup to inflate their sales numbers to hopefully get ignorant investors to give them more money. Why should we be like "Rah rah rah go Vinfast!" while they actively work to deceive people into thinking they have a viable car company right now and are not transparent? Investigative journalism and a healthy skepticism of an unproven partner to our state that received access to a critical mega site is a vital thing for all North Carolina citizens that are investing in improvements to the site. It is Vinfast's job to prove themselves to us... not for us to be the desperate state that has often been left at the altar of car plant site selection and is now rushing into marriage with somebody we barely know going "pick me! Pick me!" and support them blindly.
Also, I know many are thinking if Vinfast fails we will be easily able to flip the land to somebody else. However the tooling, equipment, and size of the facility will likely vary from what another automaker would want... leaving us to have to tear down the facility to make it shovel ready for a new automaker or do significant rework.
I hope Vinfast meets their ambitions for our sake, but I also am waiting for them to be more transparent with us. There is no indication they are going to sell 100,000 vehicles this year like they just told investors... They didn't even sell 10,000 cars in Q1 (over 50% of those were to affiliate companies, not real consumers) and they have less than 15,000 orders on the books (down from 65,000 as many people have canceled). Even analysts were surprised. Like really? 100,000? How did they do that math. They are just making it up and hoping investors will fall for it... which they aren't. I think that's been a tough cultural reality for them as a company that has leverage over the higher ups in single-party state Vietnam where there is not freedom of speech. In Vietnam, critics of Vinfast have been arrested and they have their social media postings deleted or censored by the government. There is essentially no criticism allowed of Vingroup in Vietnam. They got a rude awakening with Western media.
Last edited by CLT4; 04-23-2024 at 07:00 AM..
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