VinFast, the Vietnamese electric vehicle (EV) giant, is setting its sights on India not only as a domestic market but also as a key export hub for regions like West Asia and Africa.
VinFast, already a significant player in the global EV market, has outlined ambitious plans to expand its presence in India. With a strong focus on building an EV ecosystem, including manufacturing, battery production, and charging infrastructure, the company’s Indian venture is poised to play a critical role in its global strategy. The first phase of its $2 billion manufacturing facility in Tamil Nadu is expected to begin operations by mid-2025, marking a major milestone for the automaker.
India: A Crucial Market for VinFast’s Global Ambitions
Vietnam’s VinFast has been making waves globally, competing with industry leaders like Tesla. The company’s ambitious plans for India focus not only on manufacturing vehicles but also on establishing the country as a global export hub. The facility in Thoothukudi, Tamil Nadu, is strategically located near major transport hubs like seaports and airports, making it easier to export vehicles to markets in West Asia and Africa.
Pham Sanh Chau, CEO of VinFast Asia, emphasized the strategic importance of India, saying, “We selected Thoothukudi since it is close to the seaport and airport, which will allow us to export. We have two factories in Vietnam — one with a capacity of 50,000 and another of 100,000. We are looking at India for the domestic market, as well as West Asia and Africa.”
The company’s decision to set up in India reflects its broader vision to tap into emerging markets and strengthen its position as a global player in the EV space.
V-Green: Charging Infrastructure and Co-Investment Opportunities
One of the major components of VinFast’s India strategy is to develop a comprehensive EV ecosystem. This includes setting up a network of charging stations across the country and establishing a strong presence in the local market.
To make this vision a reality, VinFast’s group company, V-Green, will be scouting for co-investors to help build out the necessary charging infrastructure. The development of charging stations will be critical to encouraging EV adoption in India, where charging infrastructure is still in its early stages compared to markets like the US and Europe.
For VinFast, this is not just about producing vehicles; it’s about creating an entire ecosystem that can support the transition to electric mobility in India. As demand for EVs grows, the availability of reliable and widespread charging stations will be a key factor in shaping the future of electric mobility.
Key Highlights of VinFast’s India Plans:
- The company’s first $2 billion manufacturing plant in Thoothukudi will be operational by mid-2025.
- VinFast is targeting both domestic markets and exports to regions like West Asia and Africa.
- V-Green, a subsidiary of VinFast, will seek co-investors for EV charging infrastructure across India.
With these investments, VinFast plans to accelerate India’s adoption of electric vehicles while positioning itself as a leading EV manufacturer for the region and beyond.
Unveiling New EV Models at Bharat Mobility Global Expo 2025
At the Bharat Mobility Global Expo 2025, VinFast showcased its first electric vehicle models designed specifically for the Indian market. The VF7 and VF6, two all-electric premium SUVs, were unveiled as part of the company’s push to introduce its products in India this year.
These models have been designed with the Indian consumer in mind, focusing on features that cater to local preferences, including performance, style, and range. By launching these premium SUVs, VinFast aims to attract both early adopters and mainstream customers looking for high-quality electric vehicles.
The unveiling of these models at such a prominent event underlines VinFast’s commitment to entering the Indian market with a bang. The company’s focus on creating vehicles that meet local needs while maintaining global standards sets it apart from other EV manufacturers entering India.
What’s Next for VinFast in India?
With its plans to set up a massive manufacturing facility and develop an entire ecosystem for EVs, VinFast is poised to make a big impact on India’s electric vehicle market. The company’s strategic investments in infrastructure and vehicle manufacturing signal its long-term commitment to the Indian market.
However, challenges remain. India’s EV market is still developing, and competition from both domestic and international players is fierce. For VinFast to succeed, it will need to navigate these hurdles carefully, ensuring that its vehicles and services resonate with Indian consumers.
Still, VinFast’s aggressive expansion plans, combined with the unveiling of new models and a clear focus on infrastructure, suggest that the company is setting itself up for success in India and beyond.
