Vietnamese company Vingroup is speeding up its entry into the Indian electric vehicle (EV) market through its EV brand VinFast. The company is getting ready to launch two new electric car models — VF7 and VF6 — before the upcoming festive season, officially marking its presence in India.
VinFast has already invested $2 billion (about ₹16,500 crore) to set up an electric car factory in Thoothukudi, Tamil Nadu. The location was chosen because of its excellent infrastructure, including a nearby port and airport, making transportation and logistics easier.
“We visited many places in India before choosing Thoothukudi because of its great location,” said Pham Sanh Chau, CEO of VinFast Asia.
Along with Tamil Nadu, VinFast is now in talks with Telangana and Andhra Pradesh to open more facilities. The company believes that India is a very important market and is planning a bigger presence here.
VinFast also noticed that electric vehicles are becoming popular in Tier 2 and Tier 3 cities, and the company wants to build its brand and dealership network in growing areas across India.
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Chau praised the support from both the Indian central government and the Tamil Nadu state government, which helped VinFast set up the plant quickly — construction moved fast over the past 15 months.
He also spoke about the strong relationship between India and Vietnam, saying it goes back to the days of Ho Chi Minh and Mahatma Gandhi. Chau, who was Vietnam’s ambassador to India for five years, said the current investment climate in India is very encouraging.
VinFast is already present in Indonesia, the Philippines, and the United States, and now India is their next big step.
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Founded in 1993, Vingroup is Vietnam’s largest private company. Through VinFast, it focuses on industries and technology, while its other branches — Vinhomes and Vinpearl — work in real estate and hospitality. The company also supports non-profit work in healthcare (Vinmec), education (Vinschool and VinUniversity), and scientific research (VinFuture).
