Expanding, Baby Steps, and Minivans

VinFast has high hopes about its US expansion. Toyota has high hopes 2022 production cuts were a fluke. Volvo has high hopes that parents in China like minivans.
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Expanding, Baby Steps, and Minivans

The relatively new Vietnamese EV maker, VinFast, is gearing up to expand their presence in the United States. Its first batch of EVs, the VF8 and VF9, will be delivered to customers this month. The company is waiting to break ground on its first US-based production plant in North Carolina. The automaker is targeting 750,000 annual EV sales by 2026.

Due to some recent pushback over its sticker prices, the company has announced that it is considering promotional programs to help it stay competitive amongst the giants like Tesla. However, it was not specified if the promotions would include price reductions.

Toyota aims to produce 10.6 million vehicles globally in 2023, with plans to pump out as many as 750,000 vehicles in February alone (~300,000 domestic and 450,000 overseas). The automaker remains hopeful they will meet the 15% production increase despite supply shortages.

Most good things are done in baby steps – earning back trust, learning to walk, and some third thing we are sure exists.

Volvo divulged its plan to release its first-ever electric minivan in China later this year which features a 500 miles range, 536 hp, and all-wheel drive. Don't get your hopes up yet, though, soccer moms and dads. It is still unclear whether the model will make its way to US markets (at least anytime soon).

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