Vinfast open for sale the first electric car, priced around VND 690 million

HANOI, VIETNAM – Media OutReach – 24 March 2021 – On March 24^th, 2021, VinFast Trading and Production LLC officially to open for placing orders for the first electric car model – VF e34 for around VND 690 million. In particular, pioneering customers with successful orders from now to June 30^th, 2021 will be offered many attractive incentives and have the opportunity to own a car for just over VND 500 million.

 

VinFast officially open for placing orders for VF e34 car model via website: https://shop.vinfastauto.com/vn/car-vfe34.html and at all showrooms and dealers in Vietnam with a deposit fee of only VND10 million VND per unit. Pioneering customers with successful orders from now to June 30^th, 2021 will be offered a preferential price of VND 590 million with 01 year of free battery subscription. This is a stunningly attractive price for an electric car in segment C, creating favorable conditions for more customers to easily own smart and environment-friendly electric cars.

In addition to attractive incentives and supporting policies, VinFast also introduces a breakthrough battery rental service instead of selling batteries with cars as usual. Besides reducing product costs, this solution provides maximum peace of mind for customers as VinFast will bear all risks of battery quality and life expectancy during use.  Accordingly, customer can exchange for new batteries when the batteries are able to receive the charger below 70%.

In terms of costs, customers only have to pay the monthly battery rental equal to the cost of buying gasoline. Specifically, VF e34 users pay monthly battery subscription fee of VND 1,450,000/month for a maximum travel distance of 1,400km (this is the average monthly minimum travel distance of a normal car). If traveling more than 1,400 km/month as the standard traveling distance, customers will pay an additional fee of VND 998/km. Adding charging cost of about VND 484/ km, the total cost of battery rental and charging will be VND 1,482/ km, equal to the cost of gasoline per km traveled.

“In essence, although VF e34 is a smart electric vehicle, we manufactured it as a product enabling customers to directly compare with gasoline cars. In particular, customers do not have to pay for batteries and operating costs (including costs of battery rental and charging) which are exactly equal to the cost of gasoline consumption, while the price and features are superior to gasoline cars”, Ms. Thai Thi Thanh Hai – CEO of VinFast.

Users can charge their batteries at home for proactive energy sources or charge them at VinFast charging stations. If fast charging mode is used, the car can travel a distance of 180km with just 15 minutes of charging. VinFast is urgently implementing construction of a charging station system across Vietnam. The Company aims to build about 40,000 electric car charging ports covering 63 provinces and cities by the end of 2021.

 

 

VinFast VF e34, announced in January 2021 as VF31, is a smart electric car in segment C. It has a wheelbase of 2,611mm, dimensions (length x width x height) of 4,300 x 1,793 x 1,613 (mm), ground clearance of 180mm and unladen weight of 1,490kg. VF e34 is equipped with an electric motor for a maximum capacity of 110 kW, maximum torque of 242 Nm with front-wheel drive, MacPherson front suspension and torsion bar rear suspension. Additionally, it uses a 42kWh capacity battery for a traveling distance of 300km in a single full charge. To demonstrate product class and quality and for peace of mind of customers, VinFast pioneered in applying 10-year warranty policy for VF e34 model.

Moreover, as a smart electric car, VinFast VF e34 is equipped with a wide range of driver-assistance and use-centric features for easier and more enjoyable operation. These include remote software update, automatic diagnosis and warning of vehicle problems, remote customer care support, cruise planning, calling emergency rescue services, locating and finding charging stations and dealers, tracking battery charge status, vehicle operation history, anti-theft warning, learning and remembering user’s usage habits, and voice control, etc. More specially, the car is fully equipped with the most advanced safety features.

The first VinFast VF e34 cars are expected to be handed over to customers in November 2021. By the time of the next payment to receive the car, if the customers change their mind, the deposit fee will be refunded by VinFast without any fine.

On this occasion, Vingroup also announced the establishment of the Green Future Fund, which aims to encourage and support initiatives to improve the living environment, towards a sustainable future. The Green Future Fund will immediately donate VND 30 million to customers who change from fossil fuel-based vehicles (gasoline, oil) to electric cars, thereby contributing to reducing environmental pollution through the Smart Solution’s “Car Exchange Offer” service.

 

 (*) Basis for calculating battery subscription fees of VinFast VF e34 electric cars:

– Estimated cost of gasoline (1): VND 1,482/ km (the current gasoline price is VND 19,000/ liter and average gasoline consumption of 7.8 liters/100km)

– Estimated cost of electricity (2): VND 484/ km (the current price of electricity at level 5 is VND 3,117/ kW and the average energy consumption is 15.52 kW/100km). Customers pay this fee when charging the batteries at home or at the charging station.

– Cost of battery rental payable by customers to VinFast: (3) = (1) – (2) = VND 998