VinFast Cuts Through Rebate Confusion With Cold, Hard Cash

David Shultz

David Shultz reports on clean technology and electric vehicles, among other industries, for dot.LA. His writing has appeared in The Atlantic, Outside, Nautilus and many other publications.

The Vinfast VF9 in the company's Santa Monica showroom
Coutrsy of VinFast

With the Inflation Reduction Act well on its way to being written into law, the calculus of which vehicles from which manufacturers will be eligible for the $7,500 rebates is pretty confusing. dot.LA has previously covered how the new law is set to upend the status quo, but the short version is the car and its battery need to be assembled in the United States and the rebates only apply to vehicles below certain price points. Individuals who make more than $150,000/yr or to households making more than $300,000/yr are also no longer eligible for the rebate. This has led to a flurry of customers trying to lock in buyers’ agreements with companies like Rivian and Fisker before the law becomes official.

Vinfast, the Vietnamese automaker that is trying to establish itself on US soil here in Los Angeles, has taken a different approach: Just give people the money.


In an email to customers, the company announced that anyone with a preorder will get $7,500 back, regardless of whether the vehicle eventually qualifies for the government rebate or not. The catch is that buyers will also need to sign a contract saying they will actually buy the car—a much more serious commitment than a refundable preorder. (On the other hand, Vinfast still hasn’t delivered any cars yet, so who knows if the company can even deliver on its end of such a contract. Presumably yes?)

It's a nice play from the EV hopeful as they try to build customer loyalty, and it also highlights just how confusing and tumultuous the new legislation has made this landscape. Without knowing the income level of all preorder customers, it’s unclear exactly how many rebates Vinfast could wind up having to cover, but since customers have to switch to a binding contract and actually buy the vehicle, the numbers will likely stay fairly low.

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Genies Wants To Help Creators Build ‘Avatar Ecosystems’

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Genies Wants To Help Creators Build ‘Avatar Ecosystems’

When avatar startup Genies raised $150 million in April, the company released an unusual message to the public: “Farewell.”

The Marina del Rey-based unicorn, which makes cartoon-like avatars for celebrities and aims to “build an avatar for every single person on Earth,” didn’t go under. Rather, Genies announced it would stay quiet for a while to focus on building avatar-creation products.

Genies representatives told dot.LA that the firm is now seeking more creators to try its creation tools for 3D avatars, digital fashion items and virtual experiences. On Thursday, the startup launched a three-week program called DIY Collective, which will mentor and financially support up-and-coming creatives.

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Here's What To Expect At LA Tech Week

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Here's What To Expect At LA Tech Week

LA Tech Week—a weeklong showcase of the region’s growing startup ecosystem—is coming this August.

The seven-day series of events, from Aug. 15 through Aug. 21, is a chance for the Los Angeles startup community to network, share insights and pitch themselves to investors. It comes a year after hundreds of people gathered for a similar event that allowed the L.A. tech community—often in the shadow of Silicon Valley—to flex its muscles.

From fireside chats with prominent founders to a panel on aerospace, here are some highlights from the roughly 30 events happening during LA Tech Week, including one hosted by dot.LA.

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LA Tech ‘Moves’: HyperDraft Taps LegalZoom Exec

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

LA Tech ‘Moves’: HyperDraft Taps LegalZoom Exec
Photo by James Opas | Modified by Joshua Letona

“Moves,” our roundup of job changes in L.A. tech, is presented by Interchange.LA, dot.LA's recruiting and career platform connecting Southern California's most exciting companies with top tech talent. Create a free Interchange.LA profile here—and if you're looking for ways to supercharge your recruiting efforts, find out more about Interchange.LA's white-glove recruiting service by emailing Sharmineh O’Farrill Lewis (sharmineh@dot.la). Please send job changes and personnel moves to moves@dot.la.

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