VinFast has officially started shipments of VF 3 mini electric SUV

Vietnamese electric carmaker VinFast (VFS) has started exporting its much-anticipated mini electric SUV VinFast VF 3 with prices starting at below USD 13,000. The VF 3, which has generated a lot of hype in the run-up to the car’s launch, is referred to as a “social media sensation” by VinFast in Vietnam.

Launched in January, the VF 3 is a product aimed at providing sustainable and affordable transportation within cities. The battery subscription business model was initially introduced during the vehicle’s preorder period which began four months ago at a limited introductory price of 235 million VND (around USD 9,248). The full-priced VF 3 offered between May 13 and 15 was priced at 315 million VND (approximately USD 12,400). VinFast also stressed that the total cost of the VF 3, when paid in full, is about the same as the price of the cheapest gas car in Vietnam.

The purchases could be done in parts, with down payment of 50-70 million VND (USD 2,000 - USD 2,750) and the balance to be paid in 8 equal annual installments. This approach was incredibly effective and led to an astounding first 66 hours, where VinFast received 27,649 pre-order bookings. The VF 3 instantaneously set the benchmark for future discussions in Vietnamese social media platforms.

Currently, VinFast has started delivering the VF 3 and the new starting prices are approximately USD 12,800 (322 million VND). The company has been tasked with delivering at least 20,000 VF 3 units this year as it increases production.

To begin with, the VF 3 will be available in Vietnam only but the company intends to launch it in the Philippines in the third quarter of this year. The car is also expected to go to other global markets such as Europe, South East Asia and United States by 2025.

Despite aiming to sell 100,000 electric vehicles this year, VinFast has revised its 2024 sales target to 80,000 units. This revised target still represents a substantial increase from the nearly 35,000 vehicles delivered in the previous year. In the US market, the VF 3 is anticipated to cost under USD 20,000, further extending its appeal as an affordable electric mobility option.