VinFast (VFS), a Vietnamese electric vehicle manufacturer, has begun shipping its much anticipated VinFast VF 3, a small electric SUV, with prices beginning under USD 13,000 in the United States. VinFast in Vietnam describes the VF 3, which has created a lot of hype in the lead-up to the car’s unveiling, as a “social media sensation.”
The VF 3 was introduced in January with the goal of provide reasonably priced, environmentally friendly city mobility. When the vehicle was first put up for preorder four months ago, the battery subscription business model was unveiled at a special introductory price of 235 million VND (about USD 9,248). The full-priced VF 3, which was available from May 13 to May 15, cost 315 million VND, or around USD 12,400. Additionally, VinFast emphasised that the VF 3’s overall cost, when paid in full, is comparable to the cost of the least expensive gas-powered vehicle in Vietnam.
A 50–70 million VND (USD 2,000–USD 2,750) down payment and eight equal annual installments would be required to complete the acquisition. VinFast collected 27,649 pre-order bookings in an incredible first 66 hours thanks to this highly successful strategy. The VF 3 quickly became the standard for conversations on Vietnamese social media going forward.
VinFast has begun shipping the VF 3 as of right now, and the beginning price is now about USD 12,800 (322 million VND). As it ramps up production, the company’s goal is to deliver at least 20,000 VF 3 devices this year.
Although the VF 3 will only be initially accessible in Vietnam, the business plans to introduce it to the Philippines in the next third quarter of this year. By 2025, the car is anticipated to be sold in additional international markets, including those in Europe, South East Asia, and the United States.
VinFast had set a goal of selling 100,000 electric cars this year, but it has now reduced that number to 80,000 units by 2024. Even with the revision, this goal still amounts to a significant increase over the approximately 35,000 automobiles supplied in the prior year. The VF 3 is expected to be priced under USD 20,000 in the US market, which would increase its allure as a reasonably priced electric vehicle.
