VinFast VF e34 electric car launched

The first VinFast production electric car has been priced below $40,000 in its home Vietnamese market.

The 2021 VinFast VF e34 is a 4.3m-long five-door compact SUV with a 42kWh battery pack, a claimed 300km range and a 690 million VND price, which converts to $A39,226.

Sold here at that price it would immediately become the cheapest EV on the market, undercutting the MG ZS EV that’s priced from $43,990 drive-away.

However, VinFast isn’t on sale in Australia and has yet to announce any plans to launch locally.

That said, senior execs have told carsales that the Aussie market should follow once the brand is established in Vietnam and the US.

The company has spent up big in Australia, recruiting hundreds of automotive engineers, setting up an R&D base in Port Melbourne and buying the former Holden Lang Lang test centre.

The VinFast VF e34 was first shown off in January as the VF31, alongside the larger VF32 and VF33, which have been confirmed for export sale.

All three have had at least some of their development completed in Australia.

The VF e34 is being offered with an innovative battery rental plan. In return for a monthly $82 fee and not travelling more than 1400km per month, VinFast will replace the lithium-ion battery pack in the VF e34 if its recharge capacity drops below 70 per cent.

VinFast says the fee is the equivalent to the cost of petrol for a month. The 1400km distance is the average travel of the average car user in Vietnam.

VinFast is also offering a 10-year warranty for the e34.

Far more orthodox than all this is the mechanical package. The front-wheel drive VinFast VF e34 is powered by a 110kW/242Nm electric motor and suspension is by MacPherson struts up front and a torsion beam at the rear.

Putting many luxury cars to shame, the VF e34 also comes with remote software update, vehicle issue diagnosis and warning, remote customer support, itinerary planning and a charging station location guide.

By the end of 2021, VinFast estimates it will have built 40,000 EV charging ports across the country.

As an incentive to place an order before June 30, VinFast is offering a 590 million VND ($A33,500) price and a free 12-month battery subscription for the e34. Deliveries should start in November.

The company has also announced it will donate $1700 to each customer who trades a combustion-engined vehicle to an EV.

Previously, VinFast claimed a four-star ASEAN NCAP rating for the VF31 and said it came with 85kW/190Nm and 150kW/320Nm permanent magnet e-motor choices.