VinFast launches its cheapest VF3 EV overseas to take on low-cost Chinese EV makers
A new low-cost electric car is rolling out to global markets, and it’s not from China. Vietnam’s VinFast officially launched its most affordable EV, the VF 3, overseas as it expands its presence in the Philippines.
After unveiling the VF 3 in January, VinFast’s mini electric SUV instantly became a hit in its home market and across the internet.
With a compact but still rugged (almost mini Ford Bronco-like) design, the VF 3 is aimed at “young drivers who value practicality alongside personality,” according to Ms. Tran Mai Hoa, VinFast’s Deputy CEO of Sales and Marketing.
In May, VinFast opened VF 3 pre-orders in its home market with a special introductory price of 235 million VND, or around $9,248.
The promo price was for the battery subscription model. For the battery included, VinFast’s VF 3 was available for 315 million VND, or around $12,390, for those who placed deposits between May 13 and May 15.
Within 66 hours, VinFast secured 27,649 pre-orders, a new record in Vietnam. The company said its mini electric SUV became a “social media phenomenon” in Vietnam, topping trend rankings with the most online discussions.
VinFast began VF 3 shipments last month, with prices starting at 322 million VND ($12,800). The company said it aimed to deliver at least 20,000 models this year.
VinFast VF launches overseas in the Philippines
On Tuesday, VinFast officially launched the VF 3 in the Philippines. Those who reserve the VF 3 from September 19 through September 30 will get special pricing and other incentives.
The special promo price is 605,000 pesos ($32,000) for the battery subscription model and 705,000 pesos ($36,900) for the battery included.
After this month, prices will go up to 645,000 pesos ($33,800) for the subscription and 745,000 pesos ($39,000) with the battery included.
Those who opt for the battery subscription can choose from various monthly plans based on how much they travel.
| Monthly Travel Distance | Monthly Battery Subscription Fee |
| < 1,500 km | 2,800 pesos ($146) |
| 1,500–2,500 km | 3,800 pesos ($200) |
| 2,500 km | 6,300 pesos ($330) |
VinFast also offers early VF 3 buyers the ability to choose from nine exterior paint colors free of charge. Premium paint colors will cost 20,000 pesos ($1,000) following the promo.
During the promo, VinFast said VF 3 buyers can customize the exterior paint design beyond the nine colors. VinFast is now accepting deposits of 5,000 pesos ($260) on its website or at authorized dealers.
Taking aim at low-cost Chinese EV makers
At 3,190 mm long, 1,679 mm wide, and 1,622 mm tall with a wheelbase of 2,075 mm, VinFast’s VF 3 is even smaller than the Chevy Bolt EV (4,145 mm long x 1,765 mm wide x 1,611 mm tall).
With an 18.64 kWh battery, the VF 3 can travel up to 130 miles (210 km) on a full charge. It can also fast charge from 10% to 70% in around 36 minutes.
VinFast’s mini electric SUV will challenge low-cost EVs from China in the Philippines. China’s BYD currently dominates the market, with a 66% share of EV sales YTD in 2024.
BYD’s Atto 3 electric SUV starts at around $28,600 (P 1,598,000) and accounts for 44% of EV sales in the Philippines so far this year. It is available with 49.9 kWh or 60.48 kWh battery options and has a driving range of up to 255 mi (410 km) or 298 mi (480 km), respectively.
Can VinFast’s VF 3 compete overseas with BYD and other Chinese EV makers? Let us know what you think of the mini electric SUV in the comments.
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Environment
U.S. crude oil falls below $60 a barrel to lowest since 2021 on tariff-fueled recession fears
A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025.
Pavel Mikheyev | Reuters
U.S. oil prices dropped below $60 a barrel on Sunday on fears President Donald Trump’s global tariffs would push the U.S., and maybe the world, into a recession.
Futures tied to U.S. West Texas intermediate crude fell more than 3% to $59.74 on Sunday night. The move comes after back-to-back 6% declines last week. WTI is now at the lowest since April 2021.
Worries are mounting that tariffs could lead to higher prices for businesses, which could lead to a slowdown in economic activity that would ultimately hurt demand for oil.
Oil futures, 5 years
The tariffs, which are set to take effect this week, “would likely push the U.S. and possibly global economy into recession this year,” according to JPMorgan. The firm on Thursday raised its odds of a recession this year to 60% following the tariff rollout, up from 40%.
Fueled by incentives from the Illinois EPA and the state’s largest utility company, new EV registrations nearly quadrupled the 12% first-quarter increase in EV registrations nationally – and there are no signs the state is slowing down.
Despite the dramatic slowdown of Tesla’s US deliveries, sales of electric vehicles overall have perked up in recent months, with Illinois’ EV adoption rate well above the Q1 uptick nationally. Crain’s Chicago Business reports that the number of new EVs registered across the state totaled 9,821 January through March, compared with “just” 6,535 EVs registered in the state during the same period in 2024.
Those numbers represent more than 50% growth in EV registrations – far beyond the expected 12% first-quarter increase nationally being projected by Cox Automotive. (!)
What’s going on in Illinois?
While President Trump and Elmo were running for re-election, they campaigned on the threat promise of canceling the $7,500 federal tax credit for EVs. Along with California Governor Gavin Newsom, Illinois’ Governor JB Pritzker made countermoves – launching a $4,000 rebate for new electric cars and up to $1,500 for the purchase of a new electric motorcycle.
At the same time, the state’s largest utility, ComEd, launched a $90 million EV incentive program featuring a new Point of Purchase initiative to deliver instant discounts to qualifying business and public sector customers who make the switch to electric vehicles. That program has driven a surge in Class 3-6 medium duty commercial EVs, which are eligible fro $20-30,000 in utility rebates on top of federal tax credits and other incentives (Class 1-2 EVs are eligible for up to $7,500).
We covered the launch of those incentives when the program was announced at Chicago Drives Electric last year, but the message here is simple: incentives work.
SOURCES: Chicago Business, Ray Cunningham; featured image by the author.
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The electric construction equipment experts at XCMG just released a new, 25 ton electric crawler excavator ahead of bauma 2025 – and they have their eye on the global urban construction, mine operations, and logistical material handling markets.
Powered by a high-capacity 400 kWh lithium iron phosphate battery capable of delivering up to 8 hours of continuous operation, the XE215EV electric excavator promises uninterrupted operation at a lower cost of ownership and with even less downtime than its diesel counterparts.
XCMG is delivering on part of that reduced downtime promise with the lower maintenance and easier repair needs of electric equipment, and delivering on the rest of it with lickety-quick DC fast charging that can recharge the machine’s massive battery in 1.5-2 hours … but that’s not the slick bit. The XCMG XE125EV can be powered up without leaving the job site thanks to its BYD battery swap technology.
We first covered XCMG and its battery swap technology back in January, and covered similar battery-swap tech being developed by MOOG Construction offshoot ZQUIP, as well – but while XCMG’s battery tech has been in production for several years, it’s still not widely known about in the West (even within the industry).
XCMG showed off its latest electric equipment at the December 2024 bauma China, including an updated version of its of its 85-ton autonomous electric mining truck that features a fully cab-less design – meaning there isn’t even a place for an operator to sit, let alone operate. And that’s too bad, because what operator wouldn’t want to experience an electric truck putting down 1070 hp more than 16,000 lb-ft of torque!?
Easy in, easy out
The best part? All of the company’s heavy equipment assets – from excavators to terminal tractors to dump trucks and wheel loaders – all use the same 400 kWh BYD battery packs, Milwaukee tool style. That means an equipment fleet can utilize x number of vehicles with a fraction of the total battery capacity and material needs of other asset brands. That’s not just a smart use of limited materials, it’s a smarter use of energy.
You can check out all the XE215EV’s specs at this tear sheet, and get an in-person look at the Chinese company’s latest electric excavator this week in Munich, Germany.
SOURCE | IMAGES: XCMG.
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