Mini EV segment: a fierce race below VND300 million

Just a few years ago, electric cars priced under VND300 million (US$12,300) were largely experimental. Today, the mini EV segment has entered a phase of direct competition.

The most prominent name in this category is the VinFast VF 3. The model quickly became a phenomenon upon launch, with demand consistently outstripping supply, particularly in major cities.

Despite a listed price of VND299-315 million (US$12,300-13,000, including battery), various incentives and support policies bring the actual cost down to around VND283-296 million (US$11,600-12,100). The VF 3 stands out with its rugged SUV-inspired design, powered by a 43-horsepower electric motor and an 18.64 kWh battery, offering a driving range of about 210 km per charge.

While not built for performance, the VF 3 is widely considered sufficient for urban commuting. VinFast’s strongest advantage lies in its nationwide charging network, a factor that Chinese competitors have yet to match in the short term.

Entering the market in July 2025, the Bestune Xiaoma quickly drew attention with a starting price of just VND199 million (US$8,200). Following the quiet exit of Wuling Mini EV, the Xiaoma has become the most affordable four-wheeled electric vehicle currently available in Vietnam.

Equipped with a 27-horsepower motor and a battery of nearly 14 kWh, the Xiaoma offers a range of around 170 km per charge. While modest, it is deemed sufficient for short daily trips such as commuting, grocery runs or school drop-offs. The model clearly targets first-time car buyers prioritizing affordability and low operating costs over advanced features.

Building on the success of the VF 3, VinFast introduced the VinFast Minio Green in September 2025.

Despite its smaller size, the Minio Green delivers solid technical specifications. It features a rear-mounted electric motor producing 40 horsepower, paired with an 18.64 kWh battery for a driving range of approximately 210 km per charge, comparable to the VF 3. Notably, it includes DC fast charging and essential safety features, areas where many Chinese rivals remain limited.

Looking ahead, the market is expected to welcome another newcomer from SAIC-GM-Wuling in mid-2026. The upcoming Wuling Macaron is set to replace the previous Mini EV model.

According to preliminary specifications, the Macaron will feature a five-door design and two range options of 205 km and 300 km. It will also adopt the CCS2 charging standard, making it compatible with Vietnam’s charging infrastructure, alongside DC fast charging and a top speed of around 100 km/h. While official pricing has yet to be announced, dealers have indicated a range of VND269-329 million (U$11,000-13,500).

Higher-spec urban EVs at more accessible prices

In the more advanced urban EV segment, Chinese automakers are also accelerating their presence.

The BYD Dolphin, first introduced in Vietnam in 2024, was initially imported from China at a price of VND659 million (US$27,000). However, a planned shift to imports from Thailand later this month is expected to reduce costs.

Dealers suggest the 2026 version will be priced below VND600 million (US$24,600), while offering upgraded comfort and safety features. The model retains its 94-horsepower motor, but battery capacity increases from 44.9 kWh to 50.25 kWh, extending its range from 405 km to approximately 435 km per charge.

Meanwhile, the Geely EX2, launched in late March, has quickly attracted attention with pricing between VND459-499 million (US$18,800-20,500) for its Pro and Max variants.

The EX2 features a compact design with rounded exterior styling and a minimalist interior centered around a digital infotainment display and basic driver assistance systems. It is powered by a 115-horsepower electric motor and a 44.1 kWh battery, delivering a range of around 395 km per charge.

Notably, the model adopts rear-wheel drive and a multi-link rear suspension, a rarity in this segment. It is positioned as a direct competitor to the VinFast VF 5.

According to industry experts, 2026 is set to become a breakout year for electric vehicles in Vietnam, particularly in the low- and mid-price segments. Ultimately, the biggest beneficiaries are consumers, who now have access to electric cars at price points previously unheard of.

Ngo Minh