VinFast, the Vietnamese automaker, has made a remarkable entry into the electric vehicle market with its latest offering, the VF 3. The compact electric SUV, starting under $10,000 (235 million VND), has already garnered significant attention, amassing nearly 30,000 pre-orders within just 66 hours of its launch.
Unveiled at CES 2024 in January, the VF 3 is set to be released globally, including in the US, with a special promotional price before standard pricing at around $20,000. VinFast’s deputy CEO of sales and marketing, Ms. Tran Mai Hoa, emphasized the company’s vision for the VF 3, stating, “We aim to unbound the imagination of urban mobility that is not only sustainable but also accessible for everyone.”
Designed for city cruising, the VF 3 boasts compact dimensions, measuring 125.6″ long, 66.1″ wide, and 63.8″ tall, making it even smaller than Volvo’s new EX30.
The interior features a 10″ infotainment system with Android Auto and Apple CarPlay compatibility. With the second-row seats fully folded, the VF 3 offers up to 550 liters of cargo space.
VinFast’s innovative pricing strategy includes a special introductory price of $9,248 (235 million VND) for the battery subscription model, and $12,390 (315 million VND) with the battery included. This pricing approach aims to make electric vehicles more accessible, with VinFast noting that paying for the VF 3 upfront costs only half the price of the cheapest gas car currently available in Vietnam.
Buyers also have the option of a down payment ranging from 50 to 70 million VND ($1,965 to $2,750), with the remainder financed through monthly payments of just over 2 million VND ($78.5) over eight years.
VinFast’s decision to sell the VF 3 on e-commerce platforms like Shopee has proven successful, with over 50% of orders placed online. The VF 3 has quickly become a social media phenomenon in Vietnam, generating significant excitement ahead of its global debut.
