Tech
How This Vietnamese Carmaker Is Trying To Beat Tesla In The U.S.
The Vietnamese EV brand VinFast is an unknown name from a country with a tiny auto industry. But the company has already opened six stores in California and has plans for many more. It also is building a $2 billion factory in North Carolina and is planning an IPO, though timing is uncertain. It has partnerships with leading industry firms, such as LG Chem, Gotion, Pininfarina, ZF. And it has recruited alumni from some of the world’s top automakers, including Ford, General Motors, Toyota, Hyundai, Porsche, Jaguar-Land Rover, Volkswagen, and others.
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How This Vietnamese Carmaker Is Trying To Beat Tesla In The U.S.
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Micron’s hometown of Boise, Idaho has a growing crop of newly minted millionaires.
The AI-driven memory boom is showing up in the form of job growth, new construction projects, a bustling dining scene and an influx in new residents.
CNBC’s Katie Tarasov explains. Find the full report in related video.
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Half of single Americans say they are going on fewer dates or choosing less expensive activities because of rising costs, according to BMO’s 2026 survey.
But, the cost of dating itself is only part of the story. For millions of users, finding a date means paying for the apps.
Watch the full story in related video.
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Billions of dollars have been raised for this year’s midterms elections, with a significant portion coming from big name tech billionaires in the cryptocurrency, artificial intelligence and online gambling sectors. Megadonors’ contributions are overwhelmingly behind Republicans in the 2026 midterm election, with 14 of the 20 largest donor groups exclusively or nearly exclusively backing GOP candidates or outside groups. CNBC’s Luke Fountain reports.
Chapters:
00:00 – 00:56 Introduction
00:57 – 03:37 Chapter 1 – Republican-aligned donors
03:38 – 05:07 Chapter 2 – Democrat-aligned donors
Reporter: Luke Fountain
Produced and Edited by: Romy Tarantino
Animation: Jason Reginato, Emily Park
Additional Camera: Macklin Fishman, Andrew Evers
Supervising Producer: Shawn Baldwin
Additional Footage: Getty Images
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The Megadonors Funding The 2026 Midterms
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Auto repair prices have risen far faster than overall inflation. Mechanics say one key reason is the new software, parts, and safety technology. Shops are spending more on software access and safety calibration equipment. While the number of auto repair shops has grown, some who work in the business say it is getting harder to keep up, especially for smaller ones.
Chapters:
0:00 Introduction
02:09 Chapter 1: Complicated and expensive
04:02 Chapter 2: Access to vehicle data
Produced by: Robert Ferris
Edited and shot by: Darren Geeter, Natalie Rice
Additional Camera: Ryan Baker
Post production support: Erin Black
Animation: Jason Reginato, Emily Park
Senior managing producer: Tala Hadavi
Addition footage: Getty Images
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About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
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Why It’s So Expensive To Run An Auto Repair Shop
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Printed circuit boards are a quiet but crucial part of every electronic, and the U.S. can’t make enough for Nvidia and others in the AI boom.
Some 60% of the world’s PCBs come from China, creating national security and supply chain risks.
CNBC’s Katie Tarasov explains.
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@TomLax
December 21, 2023 at 5:47 pm
lol 😂
@newssearch8414
December 21, 2023 at 5:47 pm
It doesn't make sense , why vinfast stock has been going up lately? Very soon, Vinfast stock will be crash to less than $1
@user-id7sr5wd2s
December 21, 2023 at 5:47 pm
Vinphet cars are designed and manufactured in China by Shanghai Lauch Design and Jingchaoli from A-Z and then brought to Vietnam to be assembled in Completely Knocked Down (CKD) form – like you buy a toy car and reassemble it.
@michaelvo966
December 21, 2023 at 5:47 pm
Vinfast… still have long way to go…. Too many bugs , unsafe for drivers right now…. Be careful.
@danielnguyen2846
December 21, 2023 at 5:47 pm
Vinfast is very aggressively marketing their child. Vinfast Group is too big to fail.
@carlosguzman-md2mt
December 21, 2023 at 5:47 pm
Dialectics of mother nature demands that we Go back to feudalism
@ChocoliciousCake
December 21, 2023 at 5:47 pm
VinFast didn't even try to establish a strong local base for their cars lmao. At least win the trust of locals first like Korea and Germany did
@lisango2041
December 21, 2023 at 5:47 pm
It will be tough to compete with Tesla due to Tesla EV prices have been slashed greatly. I wish you the best Vinfast.
@Mindfreak3d
December 21, 2023 at 5:47 pm
If people believed in vinfast it could succeed
@user-me2dy6ct4z
December 21, 2023 at 5:47 pm
Too big gambling, I don't see they have much of the chance to be the winner in the highly risky market
@rickyroan3419
December 21, 2023 at 5:47 pm
NIEM TU HAO CUA DAN TOC..🚙🚗🛵as long as MR VUONG HAVE $$$ to keep the VFS ALIVE…
@ralzvy
December 21, 2023 at 5:47 pm
well.. its gonna be hard, the vf8 is known to be one of the worst modern cars ever made
@mantahoan4999
December 21, 2023 at 5:47 pm
Well done Vinfast
@user-wd9yu1ms3r
December 21, 2023 at 5:47 pm
Vinfas o Mỹ rất thành công.vi người Mỹ yêu người Việt
@ronaldmurberg7639
December 21, 2023 at 5:47 pm
People this is the sharks entering the country. First China destroys our industry, then they come here come and make cars here. Now Vietnam is opening a car plant in America.
First America was picked apart now the Sharks are on a feeding frenzy.
@jkuang
December 21, 2023 at 5:47 pm
This VinFast showed up three years ago. There is no technology behind it. It is just Chinese EV car with a Vietnamese stamp. Basically US market wants to import Chinese EV cars with competitive price compared to Tesla. But they don't want to import Chinese EV car due to current political climate. So investors came up with this Vietnamese car which was shipped across from the Chinese border, put a Made In Vietnam stamp and a VinFast logo on it. And then export to US.
If you open up the components inside, it is 90% Chinese components, and 10% Vietnamese decoration components. LOL 😁🤣
@tuongvan1690
December 21, 2023 at 5:47 pm
They can outperform Telsa in terms of being more delusional and ridiculous
@LC-tt2yp
December 21, 2023 at 5:47 pm
the parts from China and intergrated in vietnam
@mariaalomoto7589
December 21, 2023 at 5:47 pm
go VINFAST GO !!!
@m.b5777
December 21, 2023 at 5:47 pm
If they made diesel cars, it would be called VinDiesel
@tonyboytonyboy1287
December 21, 2023 at 5:47 pm
Looks beautiful, so does a coffin when you're in it. Good luck and do some research.
@jtogtherb
December 21, 2023 at 5:47 pm
its a great step for the company but would you buy 55k plus monthly charges on batteries? Beating tesla nope but it will be a success.
@anthonykirby7427
December 21, 2023 at 5:47 pm
We know internet-stock wealth is like ocean waves. It can be sky high, then down low and gone. We have multi-billionaires like Elizabeth Holmes of Theranos, Sam Bankman Fried of FTX, they were worth billions and billions but now sitting in jail. Now we have Pham Nhat Vuong, worth 50 billion, of Vinfast Auto, from Vietnam.
Vinfast sold a total of some 19,000 electric cars, about half to VinTaxi owned by the mother company VinGroup. In early 2023 Vinfast also shipped 1000 to the US but were told to ship back to Vietnam since they failed to meet US safety standards. They probably dumped them in the Pacific ocean. Vinfast never made a red cent, they lost maybe 5 billions in the 4 years since they entered the auto business in 2019. All of that happened in Vietnam, not a single car was sold outside Vietnam.
Somehow Vinfast managed to get themselves listed on Nasdaq and started trading 3 days go. Vinfast was worth less than a cent last week, now Vinfast is worth 50 billion USD. How is that for internet wealth? Anybody in the US looking at this company? How is that possible? Even in this crazy world of internet money.
@QraQrJaq
December 21, 2023 at 5:47 pm
I don’t see any company beating Tesla in the EV game (unfortunately). They’re the posh brand and unless they do something drastic to change that, they’ll more than likely stay on top.
@Eros4653
December 21, 2023 at 5:47 pm
ViNotttt 💀💀💀
@flaviocardoso7027
December 21, 2023 at 5:47 pm
This is the right time for companies that wants to dive deep into car market as the big companies are reluctant to change their status from gas to electric vehicles. The big ones will loose market because they're not adapting to the new market standards.
@seraj.
December 21, 2023 at 5:47 pm
no