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Automobiles

Vietnam's VinFast debuts budget EV as Chinese rivals jump in

Country still among world's top motorbike markets as electric cars roll out

VinFast has unveiled an electric car in the $20,000 range in Vietnam, a motorbike-reliant Southeast Asian country that may see Chinese alternatives with four-figure price tags soon. (Photo courtesy of Vingroup)

HO CHI MINH CITY -- VinFast has debuted its cheapest electric car yet, a $23,000 model for sale in Vietnam, a market where Chinese rivals are streaming in even as motorbikes continue to rule the roads.

The electric-vehicle arm of Vingroup said late on Friday that it is "targeting the broadest range of consumers" with the VF 5 Plus SUV, which goes for about one-third the price of the company's higher-end EVs.

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