Launching preferential policies, VinFast is creating "green changes" for Vietnamese users

Switch to electric vehicles thanks to a series of "irrefutable" policies

Having bought a car since 2006, nearly two decades later, and having changed to five different car models from different brands, Mr. Thanh Sang, a small business owner in Hanoi, remains loyal to the previous car models.

However, in early 2024, when considering buying a car larger than the sedan he owned, Mr. Sang broke this "rule" by paying 30% in advance for VinFast's VF 8, an all-electric car with experiences that he said were much more "enjoyable".

“The new experience shows that electric cars are safer, smarter, have an impressive redesign, especially VinFast's support policy is so attractive that I cannot refuse”,Mr. Sang explained.

Mr. Sang shared that with the preferential installment payment policy in the second "Fierce Vietnamese Spirit" program being applied by VinFast, he only has to pay the principal and monthly interest of 12.95 million VND to immediately own a D-class car, very suitable for his family and confidently go to work with partners.

In fact, not only Mr. Sang, many Vietnamese customers since the beginning of March - the time when VinFast's special program started - have had the opportunity to officially own an electric car, something that was previously only in the long-term vision, not even dared to think about.

According to the program's policy, customers can buy a car in installments of up to 70% in 8 years with a fixed interest rate of 5% in the first 2 years, 8% in the next 3 years and 9.5% in the last 3 years. Thanks to that, in addition to the down payment, the user's monthly payment is only from 5.29 million VND (with the VF 5 Plus model with battery and charger). This is a suitable expense even for the average income of ordinary workers.

In fact, although cars have become more popular, they are still expensive products compared to the income of many Vietnamese people. Therefore, this policy of VinFast is a big "push", making many customers decide to boldly "spend money" to own an electric car for the first time, or to replace the car they are using.

“It must be said that VinFast’s policy is a straightforward and powerful declaration of war. Many users, like me, are ready to change their travel habits thanks to VinFast,” Thanh Sang affirmed. He also shared that he was completely confident in buying a car because he had thoroughly researched the quality of electric vehicles, VinFast’s excellent customer service, and the dense charging station system across the country.

Making Vietnam a model of green transportation

Going beyond the meaning of a conventional financial solution, VinFast's pioneering in "taking on" all risks and bringing the opportunity to own electric vehicles to customers is considered by experts to be a practical solution to popularize electric vehicles to the people, thereby strongly promoting the green transformation journey in Vietnam.

Looking around the world, the race for green transformation is taking place more and more strongly. Governments have issued regulations on changing vehicles to pure electric vehicles. Developed countries such as the UK, France, etc. have issued a roadmap to stop selling cars running on fossil fuels within the next 10-15 years.

Although Vietnam entered the market late, it is making great strides, especially with the presence of businesses like VinFast. A Vietnamese expert who has worked in the Japanese automobile industry for more than 20 years analyzed VinFast and the changes that the Vietnamese car company is creating for Vietnam.

According to him, the first change that can be seen visually is the tens of thousands of zero-emission vehicles appearing on the streets of Vietnam. Accompanying the silhouette of green cars is a system of charging stations planned to have up to 150,000 ports, covering all 63 provinces and cities - a number that few countries in the region can compare to.

This number will even increase many times over when billionaire Pham Nhat Vuong recently established the global charging station development company V-Green, in which he committed to investing an additional 10 trillion VND in the Vietnamese market alone in the next 2 years to build new, upgrade and complete the charging station system.

However, the bigger change is how VinFast is inspiring the multi-generational Vietnamese user community. “In Vietnam today, not only young people - the generation that easily adapts to new things - choose electric vehicles, but also middle-aged and elderly people, both in urban areas and in many remote provinces. That proves that people have faith in electric vehicles,” the expert said.

According to him, what convinces Vietnamese users to change comes not only from curiosity or pride in "Made in Vietnam" products, but above all, the worthy value that VinFast electric vehicles bring compared to vehicles in the same segment.

At the recent ceremony to award VinFast the “Outstanding Green Industrial Project” award, Mr. Dan Vardie, Chairman of Autobest, “defined” VinFast as an “inspiring role model”, not only for Vietnamese businesses and users but also for the world in the green transformation.

With an additional perspective from that inspirational effort, what Dr. Tran Dinh Thien, former Director of the Vietnam Economic Institute, sees in VinFast is the aspiration to build a Vietnamese automobile industry, a Vietnamese brand that can reach world-class standards.

That aspiration is not unrealistic, and can even be completely realized if the Vietnamese people join hands, starting with small actions such as choosing green means of transportation.