VinFast, founded in 2017, is just one arm of a large Vietnamese conglomerate. The cash reserves of a deep-pocketed parent corporation have accelerated vehicle production at a breakneck pace; in 2021, the automaker announced its intention to enter the North American market, revealed its first U.S.-bound vehicle — the VF 8 midsize SUV — in 2022, and began deliveries early this year. But the VF 8 is just the beginning. VinFast plans to sell the larger VF 9 later this year, and the smaller VF 6 and VF 7 SUVs down the line. The company expects to sell about 50,000 models globally this year, up from 7,400 units last year, according to Reuters.
Edmunds hasn’t put the VF 8 through our comprehensive testing yet, but our initial drive review left us underwhelmed, to put it mildly. In addition to its relatively short estimated driving range of up to 264 miles for the Standard model (the currently available City Edition offers 191-207 miles depending on configuration) the electric SUV’s ride and build quality are the worst in the segment. A long comprehensive warranty is one of its only standout attributes. Despite slow sales and challenging feedback about its vehicles, VinFast is starting construction of a manufacturing facility in North Carolina this year.
Starting price for VF 8: $47,200 (including destination)
Canoo
Canoo first set up shop in California in 2017 as Evelozcity. Following a leadership shakeup and change of its corporate headquarters and name, Canoo leased a manufacturing facility in Oklahoma this year and plans to start producing what it calls the Lifestyle Vehicle this year. This is a futuristic all-electric van that can be configured for commercial or passenger use. It only has an estimated driving range of 200 miles, but it provides roomy rear lounge seating and loads of cargo space behind the front seats. The company will also offer an electric truck called the Pickup Truck and the Multi-Purpose Delivery Vehicle, a large electric commercial delivery van.
Canoo has secured preorders from a few companies including retail giant Walmart and intends to be able to produce 20,000 vehicles annually by the end of this year. Canoo recently delivered three Lifestyle Vehicles to NASA that were developed to be used as crew transportation vehicles, and it expanded its partnership with the Department of Defense to develop battery packs for military applications.
Starting price for Lifestyle Vehicle (Delivery version): $39,950 (excluding destination charges)
DeLorean
It has the same name as the car Marty McFly and Doc Brown drove, flew and pushed with a train in the Back to the Future movies, but the newest company on this list is technically called DeLorean Motors Reimagined. Its Alpha5 electric car was designed with the help of Italdesign, whose founder had a hand in creating the iconic DMC 12 that was later used in the movies.