Vietnamese automaker VinFast officially started the customer deliveries of its cheapest electric vehicle on April 21. The new VF 5 Plus has a base price of approximately $23,000, making it the “most economical model” in the company’s portfolio.
The VF 5 Plus starts at around VND 458 million ($19,500), excluding battery costs. VinFast’s monthly battery subscription costs VND 1.6 million (roughly $68). Overall, the automaker’s fourth offering costs about VND 538 million ($22,900).
VF 5 Plus got 3,000 reservations, 80% converted to pre-orders
VinGroup’s press release noted that the automaker secured 3,000 reservations for the electric SUV within just nine hours of its launch in December 2022. Of that total, 80% turned to pre-orders.
The company views VF 5 Plus as a strategic model with the potential to outsell its larger and more expensive siblings. With its low base price, the e-SUV is being marketed as “the EV for everyone.”
“The shortening of the time from reservation to delivery to only four months demonstrates VinFast’s strong commitment to its customers. This reflects not only “Trust” and “Speed” in Vingroups core values but also affirms VinFast’s outstanding capacity in vehicle development, process, and resource optimization.
I believe that along with the VF e34, VF 8, and VF 9, already sold on the market, the launch of the VF 5 Plus will provide customers with additional choices that suit the needs of the majority, thereby encouraging consumers to switch to electric vehicles and contributing to a sustainable future for all.”
Vingroup Vice Chairwoman and VinFast Holdings CEO Madam Le Thi Thu Thuy
VF 5 Plus details
Performance-wise, the compact SUV boasts a maximum power of 100 kW (134 hp) and a torque of 135 Nm (100 lb-ft).
It is equipped with a 37.23 kWh li-ion battery pack, allowing for a range of more than 300 km (186 miles) between charges in the NEDC cycle.
VinFast’s new EV also offers the following features:
- standard cruise control
- blind spot detection
- rear parking assist
- rear cross-traffic alert
- over-the-air updates
- self-diagnosis
- Vietnamese Q&A with a virtual assistant, etc.
VinFast also offers VF 5 Plus customers the following benefits:
- warranty of 7-year or 87,000-mile (140,000-kilometer), whichever comes first
- unlimited mobile service and roadside assistance
- access to the company’s 150,000 charging ports, etc.
The decision was made at the same time when inexpensive EVs, including the $4,500 Hongguang Mini EV and others from Chinese automakers like BYD, were entering the Vietnamese market.
See Also:
- VinFast plans to deliver longer-range electric SUVs to the US in April
- VinGroup launches taxi and rental service company to boost VinFast EV’s deployment
- VinFast announces successful customer delivery of its first 45 VF 8 models in the US
- VinFast cuts lease prices for first customers in the United States, starting March 1
- VinFast sees progress in its Europe expansion efforts: ESG results and new partnership
VinFast has not yet disclosed if the new offering will launch in the US. As of now, it is concentrating on its larger models for the North American market, where it wants to attract buyers with the VF 8 and VF 9 electric SUVs.
