Vietnam-based automotive manufacturer VinFast Auto Limited has announced the launch of its latest innovation, the VF7 – a sleek, compact electric crossover SUV boasting comparatively pocket-friendly price tag.

VinFast, a brand renowned for its VF8 and VF9 electric crossovers in the U.S. market, has launched the VF7 in Vietnam. In the local market, it is available with a starting price tag of approx. $35,000 (VND850 million). However, that is without owning the high-voltage battery pack that powers the EV. With the battery included, the starting price of the new electric crossover increases to around $41,000 (VND999 million) for the base trim.

Setting new standards in electric mobility at attractive prices, the VinFast VF7, which has been crafted under the expertise of Italian designer Torino Design, is poised to transform the EV landscape.

Notably, prospective owners of the new vehicle also have the flexibility to lease the battery pack for just around $120 (VND2.9 million) per month. The battery in question allows up to 1,864 miles (roughly 3,000 km) of driving. However, exceeding this limit increases the fee to approx. $198 (VND4.8 million) per month. In spite of a refundable $1,695 deposit (VND41 million), this lease deal obviously offers an inexpensive alternative to outright ownership.

Although the automobile market of Vietnam enjoys the aforementioned battery lease option, the company’s plans for the U.S. market remain uncertain. Notably, the VF7 electric SUV’s specifications differ slightly between the Vietnamese and U.S. markets.

In Vietnam, the base variant of the VinFast VF7 features a single electric motor capable of generating 174 hp (130 kW) using a 59.6-kWh battery, which promises an impressive WLTP-tested range of 233 miles (3774.9 km).

On the other hand, the U.S.-bound VF7 Eco variant features a more potent single electric motor capable of generating 201 hp (150 kW). For power, it relies on a larger 75.3-kWh battery pack, akin to the Plus variant.

The top trim of the electric crossover comes equipped with a dual-motor all-wheel drive (AWD) powertrain, delivering a combined 348 hp (260 kW) and an extended WLTP-estimated driving range of 268 miles (431.3 km) on a full charge. In addition, the EV boasts around a dozen fundamental driver assistance systems, including adaptive cruise control, forward collision warning, and lane departure warning.

Additionally, the VinFast VF7 electric crossover comes with a 10-year or 125,000-mile warranty as well as an unlimited-mileage 10-year battery warranty.