VinFast Canada’s VF 8 and VF 9 all-electric crossover SUVs have a price tag of $51,250 and $69,750, which means both models are ineligible for the current federal rebate and most provincial incentives

Newcomer Vietnamese automaker VinFast has released the pricing for the first two of its SUV models coming to Canada, with the VF 8 (formerly e35) starting at $51,250 and the VF 9 (formerly e36) at $69,750.

The VinFast VF 8 does not qualify for the current federal iZEV program $5,000 rebate in Canada, which has a $45,000 base price cut-off for vehicles with six seats or less, but it is eligible for provincial rebates in British Columbia ($3,000), Quebec ($7,000, starting April 1, 2022), Yukon ($5,000) and the Northwest Territories ($5,000). The price of the seven-seat VinFast VF 9 in Canada, meanwhile, exceeds the iZEV’s $55,000 base price cut-off for EVs with seven seats or more; neither does it qualify for any provincial incentives.

Significantly, these prices don’t include the cost of the vehicle battery. Instead, a Vinfast customer will lease their vehicle’s battery for an as-yet undisclosed monthly fee. VinFast has previously said battery leasing will help to keep its vehicles affordable and give more customers access to the luxury experience of a larger electric car with high-end finishes.

Discounts for early reservations

“We are proud to offer Canadians VinFast’s very first EV models through our company-owned store network and online purchasing,” said Huynh Du An, VinFast Canada chief executive officer as quoted by Automotive News Canada. “We expect to bring our customers a seamless, easy to navigate experience so that VinFast EVs will become their top choice for the journey towards a greener, safer and more sustainable future.”

Canadians can reserve either vehicle online at the VinFast website up to April 5 with a fully refundable $250 deposit. The initial advance order group will be part of an exclusive VinFast “pioneer” program who receive a discount of up to $3,500 on the purchase of VF 8 and $6,000 on the VF 9.

Other benefits that come with the program include a free mobile charger for the vehicle, ADAS and Smart Service packages and a seven-day vacation at a resort in Vietnam.

VinFast uses a direct-to-customer sales model so, unlike with other recent EV arrivals to market, customers in Canada will likely will not experience the staggered access to the VF 8 or VF 9 based on what province they live in.

VinFast Canada says it has received over 300 reservations for the VF 8 and VF 9 combined and that deliveries will begin in late 2022.

First of five EV models

Despite only beginning to make cars four years ago, VinFast has emerged as an aggressive industry competitor with an all-in approach to EVs. It says it will not make combustion engine vehicles after this year.

The VF 8 and VF 9 are two of five all-electric vehicles the automaker is bringing to Canada over the next few years.

The VF 8 is a mid-size crossover with five seats and an estimated range of 504 kilometres. It has a 402 horsepower motor and 472 lb-ft of torque. The company also says the car can go from zero to 96 kph in 5.5 seconds.

By comparison, the VF 9 is a seven-seated full-size crossover with an expected range of 550 km. It has the same amount of horsepower and torque as the VF 8 but instead can give drivers 0-96 kph acceleration in 6.5 seconds.

VinFast’s range ratings are based on the WLTP ratings schedule.

Both models come with 11 airbags and several driver assistance technologies, such as virtual assistant, traffic jam assist, highway assist, automatic lane changing assist, parking assistance and remote parking.

VinFast views Canada as a key market, previously telling Electric Autonomy Canada that the company plans to open 38 retail showrooms, combined sales and service facilities and service-only locations by the end of 2023. The locations of these facilities will primarily be in Quebec, B.C. and Ontario.

“We’re really looking to hone in on those major markets and then expand. That’s where we feel we’ll get the greatest amount of growth and traction,” said Hans Ulsrud, chief growth officer for VinFast Canada Inc. at the time.