VinFast is a subsidiary of VinGroup, a Vietnamese conglomerate that develops everything from real estate, technology and healthcare.
Apart from the VF e34, Vinfast also has several other EV models in the works, as well as several electric scooter models.
VinFast has also shared plans to enter markets in North America and Europe, opening orders for its first two EVs next year.
Vinfast has just announced that it will build a USD 174 million battery cell factory to supply batteries for VinFast's electric vehicle business.
The price of the VF e34 alone is 690 million dong, or about $30,350. The first batch of VF e34 EVs in Vietnam will be available with a new battery rental package. As part of the package, VinFast has reduced the minimum distance of 1,400 km/month to 500 km/month.
The new monthly subscription rate is 657,500 VND/month (~$30) for a maximum distance of 500km/month and 1,315 VND/km (~$0.05) every km thereafter.
When the battery charge capacity drops below 70%, VinFast promises a new free battery. The first 25,000 VinFast EV customers will get free battery rental for the first 12 months.