This sub-$13,000 electric car has become a surprise hit — and it’s coming soon to a dealership near you
Vietnamese electric carmaker VinFast has announced that its social media darling VF 3 small model is now available for purchase, while its budget Suzuki Jimny lookalike has been a huge success with pre-orders.
That’s no surprise, as the cheapest model costs just VND235 million, or around $9,248 (£7,250 / AU$14,000), with the owner then having to pay a small monthly fee to lease the battery packs.
If you want to own the battery, that will cost you VND315 million, or around $12,400 (£9,700 / AU$19.00).
However you look at it, the electrified VF 3 costs half the price of the cheapest petrol or diesel passenger car in Vietnam. It is therefore no surprise that buyers are flocking to a sustainable and affordable means of transport.
At its core, the VF 3 is similar in size to a Suzuki Jimny, albeit with a hot wash. It’s just 125.6 inches 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 in its two rows of seats.
According to the company, the small two-door car has an estimated range of over 200 kilometers per full charge. The car is equipped with an infotainment system with a 10-inch screen, Android Auto and Apple CarPlay, so that everyone in the car can be entertained.
In the back there’s enough space for 550 litres of gear and VinFast promises an adventurous feel with its raised ride height and 16-inch wheels.
According to European Business MagazineVinFast received nearly 30,000 orders in the first 66 hours of trading, setting a new record for car sales in Vietnam.
While prices have increased slightly (the battery-powered model now costs around $12,800), the VF 3 is finally available and will likely continue to sell like hotcakes in regions not affected by import duties and other imposed trade sanctions.
Competitively priced
We’re yet to see what impact an affordable electric car might have on the market at large. Europe is set to take delivery of the £14,995 (around $19,000 / AU$30,000) Dacia Spring later this year, and Hyundai is readying its cheaper Casper EV model for a similar amount.
In the U.S., even the most affordable electric cars still hover around $30,000. The now somewhat aging Nissan Leaf may be the least expensive way to go electric, with prices starting at $28,140.
While the VinFast VF 3’s targeted range of around 200 kilometres won’t be achievable for all drivers, the model is perfect for those who need a second car for school runs and inner-city commuting.
Plus, it could be an affordable stepping stone to electric cars, making owners realize that they’re likely driving a lot fewer miles per month than they think… and that charging isn’t 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 United States, despite the recent tax increase on foreign-made vehicles. This would make it by far one of the least expensive electric vehicles available.
While this is unlikely to 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.
That’s an extremely cheap way to get around and it could be the catalyst that electric cars need to truly replace the internal combustion engine.