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VinFast, the largest passenger vehicle OEM in Vietnam, is all set to launch its VF6 and VF7 EVs in India as early as this month with bookings to commence soon, the company’s Asia CEO Pham Sanh Chau said at a media event in Hanoi, Vietnam. The company’s parent Vingroup is also in talks with various Indian states to bring other businesses such as electric buses, green energy and hospitality to India.
The vehicles, equipped with LFP cells, are likely to take on India’s mid-size SUV segment, with the likes of Tata’s Nexon, Curvv, MG’s ZS EV, Hyundai’ Creta EV, Mahindra’s BE6, XEV9e and the upcoming Maruti e-Vitara. The prices and certified range of VinFast’s SUVs are to be announced soon.
Made in India
The cars will be CKD units assembled at the company’s Thoothukudi plant. In Phase I, the plant is capable of 50,000 units annually and has the potential to ramp up to 1,50,000 units in the future. “We already have plans for Phase 2 of the factory. In the future, the plant will ramp up its capacity to meet market demand and explore export opportunities, potentially reaching up to 150,000 vehicles annually”, said Chau. The plant will be operational in July. For context, India’s e-passenger vehicle market is about 1.1 lakh units strong as per Vahan data for FY25.
The total outlay for the plant is $2 billion and the company has already invested $500 million so far in its Phase I. The plant is expected to generate 3,500 jobs. The company also has plans to localise in India with an eye to have competitive costs.
Interestingly, VinFast said that some of the parts in the cars it sells in Vietnam and other countries are already made by Indian auto component companies.
Vietnam’s largest
VinFast is part of Vingroup, Vietnam’s largest conglomerate. Vingroup has its ventures in businesses such as real estate, hospitality, big data and AI, cybersecurity, software development and robotics apart from the business of EVs. It also operates a non-profit arm that houses schools, hospitals and universities.
VinFast’s plans for India are fairly large. Starting with its Thoothukudi plant, which it has completed in a quick 15 months, the company wants to build the entire ecosystem that supports EVs in the coming years. The ecosystem would include a network of service stations, public chargers, an EV ride hailing platform and a buyback programme for older EVs.
Expansion plans
Apart from VinFast, Vingroup plans to expand its presence in India by introducing its wind and solar energy ventures, hospitality services, e-bus business, as well as its educational and healthcare institutions. “I’m in the process of discussing with various state governments like Telangana, Andhra Pradesh, about projects on smart cities. Recently the Industries minister of Tamil Nadu visited us. We shared our desire to expand in the field of green energy, wind energy, and solar energy”, said the CEO.
VinFast’s EVs currently sell in 16 countries across North America, Europe, Middle East, South Asia and Southeast Asia and in 2024 the company sold about 1 lakh vehicles globally. The company has six models in its lineup currently, ranging from a micro-SUV to a luxury MPV. Besides these, there are also five models to cater to fleet needs, a delivery truck and a concept pickup truck, all of which are electrically propelled. It also manufactures e-buses and e-two wheelers. The company hopes to bring the full lineup to India as well in the future.
(The writer was in Vietnam at the invitation of the company)
Published on June 1, 2025
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