As the electric vehicle (EV) market expands globally, VinFast, the upstart EV maker, officially launched its VF 3 mini-SUV to the Philippines last September 17, 2024. This marks the first VF 3 international launch outside of its home market, and VinFast’s latest offering comes with bold claims: the electric mini-SUV promises better comfort, weather protection, and a monthly operating cost that rivals that of some A-segment cars and the humble gasoline motorbike.
The idea of owning a mini-SUV with operating costs almost at par with an entry-level vehicle or a motorcycle seems too good to be true, but VinFast may just have found a way to make it possible.
A Cost Comparison: VF 3 vs. Gasoline Vehicles
VinFast has set the VF 3 at an introductory price of Php 605,000 (with battery subscription) or Php 705,000 (with battery purchase) for early customers. After September 30, the prices will revert to Php 645,000 and Php 745,000, respectively. However, the real game-changer here isn’t the purchase price but rather the operating costs of owning a VF 3.
To see how the VF 3 fares in comparison to its gasoline-powered alternatives in the Philippines, VinFast crunched some numbers and compared the monthly operating costs of the VF 3 (both battery purchase and subscription versions) to those of a typical ICE car in the A-segment and a standard gasoline motorbike. Here’s how they did it:
Methodology
VinFast began by analyzing the average fuel consumption of three common A-segment ICE cars (price range of Php 660,000 to Php 840,000) and three popular gasoline motorbikes (price range of Php 81,000 to Php 166,900), resulting in 5.803 L/100km and 2.12 L/100km, respectively. They also calculated the VF 3’s energy consumption at 13.95 kWh/100km. Additionally, VinFast factored in the average electricity cost (Php 11.34/kWh) and gasoline price (Php 64.34/L) in the Philippines. For the VF 3, they considered VinFast’s battery subscription plan, which reduces the initial price by Php 100,000 and added a monthly fee based on travel distance:
- Under 1,500 km: Php 2,800
- 1,500-2,500 km: Php 3,800
- Over 2,500 km: Php 6,300
The monthly operating costs for driving 1,500, 2,500, and 3,500 kilometers were calculated using these figures. The fuel or energy costs for an average ICE motorbike/car and the VF 3 (with battery purchase) were determined using the following formula: (Monthly Distance) x (Energy Cost Per Kilometer) x (Fuel/Electricity Price). For the VF 3 with a battery subscription, the subscription fee was added to the calculation.
| Distance (km) | Monthly operating cost (in Philippine Pesos) Rounded for ease of comparison | |||
| Average A-Segment Car | Average Motorbike | VinFast VF 3 (Battery Purchase) | VinFast VF 3 (Battery Subscription) | |
| 1,500 | 5,600 | 2,040 | 2,300 | 5,200 |
| 2,500 | 9,300 | 3,400 | 4,000 | 7,800 |
| 3,500 | 13,000 | 4,800 | 5,500 | 11,700 |
| Monthly operating cost comparison: VF 3 vs. average ICE car vs. average ICE motorbike. | ||||
As the table shows, the VF 3’s battery purchase version costs about half as much to run as the average ICE car in the A-segment, particularly as distance increases. Even with the battery subscription plan, the VF 3 still offers a lower operating cost compared to gasoline cars, though it is significantly higher than a motorbike due to the added subscription fee (although the subscription model already helps lower the initial purchase price by Php 100,000, potentially amounting to years of subscription fee).
The Evident Benefits of the VF 3
For budget-minded consumers, the VF 3’s value proposition is clear. At a slightly higher operating cost than a motorbike, you gain the comfort of a mini-SUV, complete with air conditioning and shelter from the elements, all while enjoying the fuel savings of an electric vehicle. For those considering an entry-level car, the VF 3 is a cost-efficient solution for the daily commute. Perfect for city driving, the VF 3’s compact size makes it easy to navigate urban areas, while still providing the safety typically found in larger cars.
Maintaining an electric vehicle is also significantly simpler compared to an ICE car or even a motorcycle. Electric cars like the VF 3 require far less maintenance. There’s no engine oil to change, and fewer mechanical parts mean a longer maintenance cycle. Moreover, the VF 3 is a personal statement with 9 colors to choose from and offers a playful canvas for customization, truly allowing you to put your own stamp on the car.
VinFast also offers one of the best after-sales service programs in the market. The VF 3 comes with a 7-year or 160,000-kilometer warranty for the vehicle itself, while the battery (if purchased) has an 8-year, unlimited mileage warranty. If you opt for the battery subscription, VinFast takes it a step further by providing free battery replacement if the charging capacity drops below 70%. This assurance goes a long way in eliminating concerns about battery lifespan and overall vehicle reliability.
Is the VF 3 Worth It?
Ultimately, the decision comes down to your personal needs and preferences. If you’re looking for something more substantial than a motorbike but still want to keep your monthly operating costs low, the VF 3 presents a compelling case as a fully enclosed vehicle with better safety, comfort, and practicality. Just like in Vietnam, the VF 3 offers city-dwellers in the Philippines an affordable entry point into the world of electric vehicles without sacrificing comfort or convenience.
Launch Promo Pricing
From September 26 to October 15, early customers who reserve the VF 3 will enjoy several attractive incentives and privileges, including a special price of Php 605,000 (battery subscription) or Php 705,000 (battery included). After this period, the prices will revert to the MSRP of Php 645,000 (battery subscription) and Php 745,000 (battery included).
Additionally, early VF 3 customers will have the privilege of choosing from nine striking exterior paint colors, including four base colors and five premium options, free of charge. Premium paint colors will cost an additional Php 20,000 after this period. Moreover, for only Php 40,000, early customers can customize their car’s paint beyond the nine available colors. This will be the only time VinFast offers this exclusive privilege for the VF 3.
VinFast is accepting deposits of Php 5,000 through its official website (https://shop.vinfastauto.ph/vf3) or at authorized dealerships (refundable under VinFast’s terms).
