VinFast introduces the VF 6 to the B-segment EV market in Europe. With 27% of all vehicle sales in 2022, the B-segment, which includes subcompact cars, is the second-largest automotive market in Europe.
The design of the VF 6 was created by Torino Design. The VF 6 B-segment SUV will fill a need in the European market for electric vehicles. The VF 6 follows the VF 8 SUV as the company's second model in the European market.
The VF 6 is focused on modern design, advanced technology, and affordability. This makes it an attractive option for consumers in Europe's B-segment EV market. The VF 6 also comes with a multi-link rear suspension system. It is designed to provide a smooth ride on uneven roads.
VF 6 has a multi-link rear suspension system, which improves handling and agility. It offers a smooth ride on uneven roads. With 330 Nm of torque produced, the 150-kW electric motor provides performance that facilitates responsive driving and effective operation.
CMI Research: Market Insights
According to Coherent Market Insights (CMI), global electric car market is estimated to be valued at US$ 343.27 Bn in 2024. It is expected to reach US$ 1,576.08 Bn by 2031, exhibiting CAGR of 24.3% from 2024 to 2031.
The market share of battery electric vehicles (BEVs) is predicted to be the largest among all vehicle types in 2024, with a projected 68.3% share, thanks to advantageous government policies and incentives.
Analyst Opinion:
The electric car market is expected to witness strong growth de to drivers such as government regulations and subsidies says CMI’s senior research consultant Gautam Mahajan.
The global electric car market is expected to grow significantly driven by emission norms. This is forcing automakers to shift towards electric vehicles. High purchase prices of electric vehicles continue to restrain widespread growth in markets.
Building charging networks all over the world would involve cooperation between automakers, battery makers, and charging point suppliers.
Conclusion: Challenges and Business Takeaways
Currently, among the big issues the world’s electric vehicle industry faces is the weak availability of charging infrastructure. Many parts across Europe over the last decade they have been steadily constructing public charging stations for vehicles.
There is a need for both auto makers and governments to collaborate and make huge investment. Investment towards the installation of charging points at designated places such as alongside the highways, in residential areas, commercial centres and other crowded areas.
