Vietnamese electric carmaker VinFast has announced that its social media favourite VF 3 minivan has started shipping, with the cut-price Suzuki Jimny-like model a huge pre-order hit.
It's no surprise, considering the cheapest model costs just VND235 million, or around $9,248 (£7,250 / AU$14,000), and the owner then pays a small monthly fee to rent the batteries.
If you want to purchase the battery, it will set you back VND315 million, or around $12,400 (£9,700/AU$19,000).
By any measure, the electrified VF 3 is half the price of Vietnam’s cheapest petrol or diesel passenger car, so naturally buyers have flocked to snap up a slice of sustainable, affordable transport.
At its core, the VF 3 is similar in stature to a Suzuki Jimny, only this one has been given a hot wash. It measures just 320 centimetres long, shorter than the aforementioned Suzuki SUV. It has a slightly lower roof height, but offers a slightly wider profile to make it more comfortable for four people to travel across the two rows of seats.
The company claims the diminutive two-door vehicle has an estimated target range of more than 125 miles per full charge, while it features a 10-inch screen infotainment system equipped with Android Auto and Apple CarPlay to keep everyone on board entertained.
At the rear, there's enough room for 550 litres of gear, and VinFast promises an adventurous feel with the raised ride height and 16-inch wheels.
According to Europe Business magazine, VinFast secured nearly 30,000 orders in the first 66 hours of trading, setting a new record for car sales in Vietnam.
Though prices have risen slightly (the battery-powered model now costs around $12,800), the VF 3 is finally shipping and will likely continue to sell like hotcakes in regions not negatively affected by the import tariffs and other trade sanctions imposed.
Competitive price
We're yet to see the impact a truly affordable EV could have on the wider market, with Europe set to receive the £14,995 (around $19,000 / AU$30,000) Dacia Spring later this year and Hyundai readying its cut-price Casper EV model for similar money.
In the US, however, even the most affordable EVs still hover around $30,000, and the now-aging Nissan Leaf is arguably the cheapest way to get into electrified transportation, with prices starting at $28,140.
While the VinFast VF 3's battery range of around 125 miles won't be practical for all drivers, it will be perfect for those who need a second car for school and travel within the city.
What's more, it could be an affordable gateway to electric vehicles that teaches owners to recognize that they probably drive far fewer miles in a given month than they think — and that charging them isn't actually that complicated or daunting.
Some estimates suggest the VF 3 could cost less than $20,000 when it goes on sale in the US, despite the recent increase in taxes on foreign-made vehicles. This would make it one of the cheapest electric vehicles by far.
While this will likely not be the case in markets outside Vietnam, VinFast offered the VF 3 with a down payment of VND50-70 million ($2,000-$2,750) in its home market, with the remainder financed over eight years.
It's an extremely cheap way to get around and could be the catalyst that electric vehicles need to truly replace the internal combustion engine.
