EV Startup VinFast Hits the U.S., Opens First Showrooms In California

Electric-vehicle startups like Rivian, Lucid, Fisker, Canoo and Lordstown are having to adjust to the realities of making vehicles in a harsh economy. WSJ’s George Downs explains some of the challenges they’re facing and why some even risk going out of business. Photo composite: George Downs

Vietnam’s Vingroup JSC became a corporate juggernaut in its home country, operating everything from luxury resorts to hospitals, shopping malls and supermarkets.

Now, it wants to break into the U.S. car market with a little-known electric-vehicle startup, called VinFast, that has a novel way of pricing its models.