Vietnamese electric car manufacturer VinFast said it is going to protect the competitiveness of its models in the market after Tesla announced discounts to stimulate demand for its models.

The Vietnamese company entered the market in 2019 and is currently preparing to expand in the United States. In the States, VinFast hopes to compete with Tesla by offering its models, the VF8 and VF9, at a price of $59,000 and $83,000, respectively. Tesla, in turn, is offering its base Model Y on the U.S. market at a discounted price of $52,990. The initial cost of American electric cars was located in the region of $65,990.

The first batch of Vietnamese cars for the United States market includes 999 cars, and their delivery began at the end of November. By the end of January, VinFast plans to deliver them to customers.

Company representatives noted that VinFast has received almost 65,000 orders worldwide and expects to sell 750,000 electric vehicles annually by 2026. The automaker also plans to build an electric vehicle manufacturing plant in North Carolina.