Summary
- VinFast Philippines announces final pricing for the VF 5, their debut model in the country
- VF 5 available in two options: battery subscription plan or straight-purchase
- Average driver in Manila covers 800-1000 kilometers per month, making the battery subscription plan cost-effective
- VinFast CEO expresses excitement about entering the Philippine market and providing affordable, high-quality electric vehicles
- VinFast offers unique battery subscription program to reduce initial purchase cost and make EVs more accessible to consumers
Article
VinFast Philippines recently announced the final pricing for their debut model, the VF 5, almost a month after the launch of their compact electric SUV, the VF 3. The VF 5 comes in two options: a variant priced at P992,000 with a battery subscription plan, and a straight-purchase version priced at P1,191,000 that includes the battery. The battery subscription plan offers flexible monthly fees based on driving distance, making it an attractive option for Filipino consumers. Nguyen Thi Minh Ngoc, CEO of VinFast Philippines, expressed excitement about entering the Philippine market and providing affordable, high-quality electric vehicles with excellent after-sales services.
The VF 5 is a compact SUV equipped with a 100 kW motor, 135 Nm of torque, and a 37.23 kWh lithium-ion battery. It offers a range of 326 kilometers per full charge and can charge from 10% to 70% in just 33 minutes. The SUV features advanced technologies like automatic vehicle fault diagnosis and blind-spot warning, along with various interior and exterior color options. VinFast’s battery subscription program is a unique selling point in the Philippine market, as it reduces the initial purchase cost and makes electric vehicles more accessible to consumers.
VinFast is positioning itself in the crowded Philippine EV market dominated by Chinese brands with the launch of the VF 5 and the opening of its first three dealerships. The company plans to start delivering vehicles to Filipino customers later in 2024, aiming to make electric cars more widespread in the country and contribute to the green transportation movement. Despite challenges in the U.S. market, VinFast has seen growth globally, with 13,172 EVs delivered in the second quarter of the year and significant revenue increase in Southeast Asia.
While VinFast has faced setbacks in the U.S. market, it has seen success in its home market of Vietnam and is making strides in Southeast Asia, including Indonesia, Malaysia, Thailand, and the Philippines. Despite delays in establishing an EV plant in North Carolina, the company plans to increase its number of dealerships and store displays to support its expansion. VinFast’s unique battery subscription program and after-sales service package have been well-received in the Philippine market, showcasing the company’s commitment to providing high-quality and affordable electric vehicles.
VinFast’s entry into the Philippine electric vehicle market signifies a growing interest in sustainable transportation options in the country. With the introduction of the VF 5 and other electric vehicle models, the company aims to make electric cars accessible to a wider audience and contribute to reducing emissions in the transportation sector. By offering innovative solutions like the battery subscription plan and a comprehensive after-sales service package, VinFast is positioning itself as a key player in the evolving landscape of electric mobility.
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