Opinion: Shock Pricing For VinFast MPV 7 Could Shake Up EV Segment

VinFast has confirmed the expansion for their Indian portfolio with the third car joining its two strong line-ups. The third offering is a seven-seater, three-row MPV with an equally insightful name, “MPV 7”, and we got to spend a brief time with it at VinFast’s Hai Phong production plant in Vietnam. To be launched on April 15, the MPV 7 needs to get the pricing right; VinFast could very well deliver India's most budget-friendly electric seven-seat car, shaking the segment to its core. But is that a realistic expectation? Let's break it down.

Rare Combination And Expected Pricing

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After the two very strategic offerings (one playing in the lucrative C-SUV space while the other one aiming for the big boys), VinFast is entering a sparsely populated segment where you can get pure EV mobility and three-row practicality.

Let’s start with the BYD eMax 7, which was launched in 2024. It didn’t attract a lot of buyers owing to its steep asking price of Rs 25-30 lakh and the lack of sales/service network. Not able to capitalise on this one, BYD squandered the first mover mark. But the Kia Carens Clavis EV benefitting the price advantage, with a practical cabin, Kia’s stronger sales network, giving consumers a genuine, viable alternative to traditional diesel or petrol, five-seater compact SUVs. And the third one came recently in the form of the Mahindra XEV 9S.

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With the MPV 7, VinFast needs to copy the Clavis playbook. Keep the pricing so strong that buyers would be enticed by it over any other five-seater SUV. And what works in the MPV7’s favour already is that it gets you a spacious cabin, a practical seven-seater, and a dynamic road manner, which is slightly better than the other cars in this segment.

So, let’s say, what if the MPV7 starts under the Rs 15 lakh (ex-showroom) mark?

Nexon and Windsor Territory

Now we won’t consider the eMax 7 because it is the most expensive of the four here, and it has its own set of takers. Secondly, the feature list that the MPV 7 will offer isn’t fitting to take on the XEV 9S in its own game. The India-bred electric SUV is leagues ahead when it comes to the features, pricing and overall packaging.

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Even the Clavis EV offer more features in the higher trims, but the entry-level variant of the Clavis EV closely matches what the MPV7 will offer, and yet it starts at Rs 17.99 lakh. So, if the new MPV 7 undercuts its Korean counterpart and comes to India as the most affordable seven-seater electric car, that will get the ball rolling.

Its looks and dimensions are already bigger and better than the Clavis EV; it’s got a bigger battery pack of 60kWh compared to the Clavis’ 42kWh, and there’s also the added advantage of VinFast’s free charging scheme that will help a lot of buyers walk into the showroom right after they have considered other electrics in this space.

No BaaS, but VinFast can still do it

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At the confirmation of the MPV 7, VinFast has admitted they are considering the BaaS (battery as a service) for pricing, but they either didn’t seem keen on it or aren’t ready to roll out the BaaS for India. But despite this BaaS initiative, looking at the aggressive value pricing of the VF6 and the VF7 in India, VinFast is surely capable of launching the MPV 7 at a very attractive initial pricing.

And if it does come with a starting price under the magical Rs 15-lakh mark, maybe the Nexon EV and Windsor EV (both of which are enjoying their popularity owing to their value and accessibility) will have a few of their buyers turn their attention to this rather bigger EV that they can park in their garage at almost the same price.

Conclusion

Which brings us back to the core thesis, the MPV 7 doesn’t need to be the best (which it isn’t, either if you see what it can be capable of). But it just needs to be smartly priced. If it does carry a higher price tag at the launch on April 15th, it might be easily overlooked, for there are better options available for every pocket size today, some better than the rest.