VinFast aims for a stronger footprint in Indian EV market, bets big on value
VinFast is aiming to be a key player in the Indian market, with its range of electric vehicles across different segments.
VinFast is aiming to be a major player in the Indian electric vehicle market with a multi-pronged strategy. The Vietnamese carmaker has already started its India operations. It has launched two electric SUVs in India, namely the VF 6 and VF 7. Besides that, to achieve competitive product pricing in the intensely competitive market, the OEM has set up its maiden facility in the country. At the plant in Tamil Nadu, which is still undergoing development, VinFast claims to have an annual roll-out capacity of 50,000 units, which can be scaled further, subject to the demand surge in the country. Besides that, the auto OEM has adopted several other strategies to ramp up its presence in India.
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After launching the VF 6 and VF 7 electric SUVs, which are currently being assembled locally in India, VinFast is gearing up to launch its third electric car in the country, namely the VinFast VF MPV 7, a seven-seater MPV with premium appeal and affordable pricing, as the OEM claims. Slated to be launched on April 15, the VF MPV 7 is already available for booking across India at a token amount of ₹21,000, through the authorised dealerships and online channels. With this model, the automaker is focusing on gaining a stronger footprint in the bulging electric MPV segment in the mass market, where BYD and Kia currently sell the eMax 7 and Carens Clavis EV, respectively, which will be the key rivals of the upcoming VF MPV 7.
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During the test drives of the VinFast VF MPV 7 in Vietnam, HT Auto learned about the multipronged strategy of the automaker, which the company is adopting for its growth in India.
| VinFast India takes multi-pronged business strategy |
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Key strategies
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New VinFast electric cars in pipeline
After launching the VF 6 and VF 7 in India, VinFast is ready to launch its third electric car in India, the VF MPV 7. The company claims that it will be followed by multiple other products, which may include the global models like VF 3, VF 5, VF 8, and VF 9. It is noteworthy that while the VF 3 is a small and affordable city car, the VF 9 comes as a large premium car. To facilitate this expanded product lineup and its sales across India, VinFast is aiming to expand its retail network from the current 51 to 75 by the end of this year.
VinFast electric scooters and buses are on card
VinFast is not only planning to expand its electric car lineup in India, but also to launch electric scooters and buses in the country. The company currently has five different electric two-wheelers on sale in Vietnam, and at least three of them are planned to be launched in India, possibly in the second half of this year. Also, with the increasing electric bus penetration across India, the company is eyeing to tap that segment as well, since it already makes and sells electric buses in its home market.
Product localisation is key to growth
VinFast is currently assembling its products in India at its Tamil Nadu plant. However, moving forward, the company is focusing on ramping up the localisation for its products, which will help the brand to achieve competitive pricing in India and get tax benefits, etc. Eventually, this will result in the OEM offering its cars at a more competitive price to the customers in the country, which would help it to ramp up its sales and market penetration.
VinFast India CEO revealed that the upcoming VinFast VF MPV 7 will initially have a 15% localisation, which will go up gradually. Currently, the company is in talks with local vendors to develop a robust supply chain in India.
VinFast is focusing big on value
One of the key strategies the Vietnamese automaker has taken for the Indian market is focusing on value. Instead of offering cars with tons of premium and advanced technology-aided features, which can be high-priced, VinFast is focusing on practicality. Speaking about this, Tapan Ghosh, CEO of VinFast India, told HT Auto that the primary focus for the brand is to offer premium products to the customers at an affordable price, which will enhance their value proposition and, at the same time, help in wider EV adoption.
Not only the value proposition of products, but the value of ownership is also in focus. The company is offering free charging for its electric vehicles in India till March 2029. Beyond that, the three-year free maintenance and exchange programs are aimed at enhancing the value proposition of VinFast car ownership in India. VinFast is also mulling the plan to introduce battery-as-a-service (BaaS) for its cars in India. While not decided or finalised yet, the OEM claims to be running a feasibility study on this and may offer the BaaS for its buyers in the near future.VinFast is setting up a robust V-Green charging network across India to support its customers.
A robust EV charging ecosystem under development
Talking about EV, range anxiety, and availability of charging infrastructure are two of the key concerns for any electric vehicle buyer. To alleviate that, VinFast has been focusing on the gradual development of EV charging stations. While its authorised dealerships and workshops have EV chargers offering free charging to the VinFast car owners till March 2029, the associate workshops too are offering this facility. Also, VinFast is currently in talks with companies like HPCL to set up EV charging facilities in conventional fuel stations. As Ghosh said, VinFast is setting up a robust V-Green charging network across India to support its customers.
Widespread retail and service network in focus
Not only EV chargers, but VinFast is also setting up and expanding the workshop network across the country, which is a key part of its growth strategy. Currently, the Vietnamese auto company has more than 130 workshops across India, which the OEM plans to expand to over 230 by the end of 2026.
What is VinFast capable of? Ground experience from Vietnam
VinFast took this journalist from HT Auto on a curated trip to Vietnam, where I got to visit the company's primary manufacturing hub in Hai Phong. This mega plant is highly automated, where the company manufactures electric cars, electric two-wheelers and electric buses on the same campus. Built in just 21 months, the factory features over 90% automation, utilising advanced technology-aided robots from different tech partners. The Hai Phong plant is designated for an annual capacity of 950,000 electric vehicles in 2026, which can be further expanded in future.
The company has already made a strong footprint in several Southeast Asian countries, and India, being a major automobile market with great potential for the development of electric vehicles, is eyeing to grab a sizeable chunk of the market here.
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