VinFast Explores Introducing Low-Cost VF 3 EV to the U.S. Market

VinFast is contemplating the introduction of its budget-friendly VF 3 electric minicar to the U.S., driven by positive feedback from potential dealers.

• VinFast’s VF 3, initially designed for the Vietnamese market, is a compact two-door EV.

• The potential U.S. price for the VF 3 could be under $20,000.

• The company is transitioning to a hybrid retail approach, involving both direct sales and franchised dealerships in the U.S.

Automotive News has recently highlighted VinFast’s plans to possibly expand its U.S. vehicle lineup with the VF 3 electric minicar. Originally crafted for the Vietnamese audience, this compact two-door vehicle, measuring a mere 10.2 feet, has generated interest among potential dealers in the U.S. who see its potential appeal for budget-conscious American consumers.

VinFast, as part of its business strategy, is currently transitioning from solely factory-direct sales to a more diverse hybrid retail approach. This shift encompasses the inclusion of franchised dealerships in its sales model. The company revealed that the preliminary feedback from dealer discussions has been overwhelmingly positive, indicating a strong interest in the brand and its range of electric vehicles.

While VinFast has yet to disclose specific details about the VF 3’s introduction in the U.S., the company acknowledges the enthusiasm shown by dealers and is now evaluating the vehicle’s potential in the American market. The vehicle itself, as described in a June press release, boasts a design that balances between a car and a crossover, characterized by its bold geometric shapes and pronounced lines.

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In light of the phasing out of some A-segment mini vehicles in the U.S. like the Fiat 500 and Chevrolet Spark, potential dealers see the VF 3 as an attractive option for consumers looking for a new vehicle at an approachable price point, possibly below $20,000. Additionally, adviser Duke Hale emphasized that the VF 3’s potential price tag might make it eligible for a $7,500 federal EV tax credit, further reducing the cost for buyers.

To sum it up, while larger vehicles dominate the U.S. market, the VF 3’s competitive pricing could attract younger buyers and those seeking an affordable entry into the EV segment.