Vietnamese electric carmaker VinFast has announced that the tiny VF 3 model, its social media sweetheart, has begun shipping and that the cut-price Suzuki Jimny lookalike has been a runaway pre-order success.
It comes as no surprise, considering the cheapest model costs just 235 million VND, or about $9,248 (£7,250/AU$14,000) , with the owner then stumping up a small monthly fee to lease the battery packs.
If you want to own the battery, it will cost you 315 million VND, or around $12,400 (£9,700/AU$19,00).
However you look at it, the electrified VF 3 is half the price of the cheapest petrol or diesel passenger car in Vietnam, so naturally, buyers have been flocking to grab a slice of sustainable and affordable transport.
In essence, the VF 3 is similar in stature to a Suzuki Jimny, only one that has been put through a hot wash. It measures just 125.6 inches long, shorter than the aforementioned Suzuki SUV. It boasts a slightly lower roof height but offers a slightly wider profile to make it more comfortable for four to travel in the two rows of seats.
The company claims the diminutive two-door has a target range estimate of over 125 miles per full charge, while it features a 10-inch-screen infotainment system fitted with Android Auto and Apple CarPlay to keep all onboard entertained.
In the rear, there’s enough space for 550-litres of kit, and VinFast promises a sense of adventure with the raised ride height and 16-inch wheels.
According to Europe Business Magazine, VinFast secured almost 30,000 orders within the first 66 hours of trading, setting a new automotive sales record in Vietnam.
Although prices have increased slightly (the battery ownership model now costs around $12,800), the VF 3 is finally shipping and will likely continue to sell like hotcakes in regions not adversely affected by import duties and other imposed trade penalties.
Competitively priced
We haven’t yet seen the impact a truly affordable EV could have on the market in general, with Europe poised to take delivery of 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.
However, in the US, even the most affordable EVs still hover around the $30,000 mark, with the now-aging Nissan Leaf arguably the cheapest way to get into electrified transport, with prices starting at $28,140.
Although the VinFast VF 3's targeted 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 runs and inner-city commutes.
Moreover, it could be the affordable gateway into EVs that coaches owners through the fact that they probably travel far fewer miles in any given month than they think... and that charging isn't actually all that complicated or daunting.
Some estimates suggest the VF 3 could still cost less than $20,000 when it goes on sale in the States, despite the recent hike in taxes on foreign-made vehicles. This would make it one of the cheapest EVs by a long stretch.
Although it likely won't be the same case in markets outside Vietnam, VinFast offered the VF 3 with a 50 to 70 million VND ($2,000 to $2,750) down payment in its home market, with the rest financed for over eight years.
That's an extremely cheap way to get around and it could be the catalyst EVs need to truly take over from the internal combustion engine.
