Vietnam’s electric vehicle manufacturer VinFast enters the Indian market by unveiling two premium electric SUVs, the VF6 and VF7, at the India Auto Show in New Delhi. The move marks VinFast’s strategic expansion into the world’s third-largest car market, challenging local players like Mahindra & Mahindra and China’s BYD.
VinFast Asia CEO, Pham Sanh Chau, emphasized India’s importance as a growth frontier, aligning their goals with India’s net-zero carbon emission ambitions. Despite facing financial losses due to softened demand, VinFast aims to establish its presence by producing vehicles domestically in Tamil Nadu and investing in charging infrastructure.
VinFast proposes a reduced import tax for EVs with the Indian government to mitigate expenses as their local factory ramps up. With significant investment and commitment to the sector, VinFast targets a robust footprint in India’s evolving electric vehicle market.
(With inputs from agencies.)
