VinFast (VFS) announced it has officially begun shipping its new mini electric SUV, the VinFast VF 3. Starting under $13,000, the new VF 3 generated strong buzz, with VinFast calling it a “social media phenomenon” ahead of shipments.

VinFast kicks off VF 3 shipments for under $13K

After introducing the VF 3 in January, VinFast said the new mini electric SUV is designed to make city travel “not only sustainable but also more accessible.”

Four months later, VinFast opened pre-orders with a special introductory price of 235 million VND, or about $9,248. That’s for the battery subscription model. Between May 13 and 15, VinFast offered the VF 3 (with the battery) for 315 million VND, or around $12,400.

VinFast noted that paying for the VF 3 in full costs half the price of the cheapest gas-powered car in Vietnam.

However, buyers could opt for a 50 to 70 million VND ($2,000 to $2,750) down payment, with the rest financed for over eight years.

Within 66 hours, VinFast secured 27,649 pre-orders, a new Vietnam automotive record. VinFast called the VF 3 a “social media phenomenon in Vietnam,” topping the trends charts.

VinFast announced Thursday that it has begun VF 3 shipments. Prices now start at around $12,800 (322 million VND). The company aims to deliver at least 20,000 VF 3 models this year as it ramps up production.

According to VinFast, some VF 3 buyers already own a vehicle and are adding it as a second option.

The VF 3 will first roll out in Vietnam, followed by the Philippines later this year and other overseas markets like Europe, Southeast Asia, and the US in 2025.

Although VinFast aimed to sell 100,000 EVs this year, it cut its sales target for 2024 to 80,000. That would still be more than double the almost 35,000 delivered last year.

According to some estimates, it will still cost under $20,000 when it arrives in the US. Would you buy VinFast’s mini electric SUV for $20K? Comment below to let us know your thoughts.

Source: Nikkei, VinFast