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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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