Did you read the news?

VinFast, a Vietnamese electric vehicle maker, is planning to enter the Indian automotive market. They have finalized that they will be offering their two premium electric vehicles, the VF6 and VF7, in India.

The company plans to compete with Indian brands like Mahindra and China’s BYD. It also has plans to enhance India"s EV charging infrastructure

More information can be found in the sections below!

Two Electric Vehicles Were Showcased

VinFast went ahead and showcased their VF5 and VF7 premium EVs at the India Auto Show in New Delhi. The goal of this stunt was to gauge the public interest in the brand and its products. Additionally, Pham Sanh Chau – VinFast’s CEO of Asia Chapter stated that he wants to help India achieve its carbon emission reduction goals.

VinFast is targeting India in a bid to expand its global market share

VinFast is steadily gaining traction in the global automotive sector. This statement can easily be corroborated when one considers the fact that VinFast is listed in NASDAQ. The primary market segments of VinFast are North America and Vietnam (the latter being its birthplace).

However, the brand’s move to enter India indicates that the company wants to increase its footprint in the global automotive sector. As India has already established itself as a pioneer in terms of automobile manufacturing, research as well as development, VinFast’s decision to enter (and expand) India could prove to be a winning move for the brand.

However, the success of VinFast would lie in the fact that they nail the pricing as well as the overall quality of their products which they will be offering here in India.

VinFast is planning to tap into the love for EVs in India

India and their love for electric vehicles is no news for the global automakers. To put things into perspective, on average, close to three percent of millions of vehicles sold each year in India consists of electric vehicles. The Indian Government has a target of ensuring that more than twenty-five percent of the millions of vehicles sold each year in India should be pure or at least hybrid electric vehicles. In simple words, the growth opportunities for an EV maker in India are huge; VinFast knows this and wants to monetize that!

A lot of money will be invested!

VinFast stated that it is ready to spend more than $500 million in India over a span of 5 years. The proof for this statement can be seen in the form of an under-construction car and battery factory in Tamil Nadu!

The Company Can Shine With Help From The Indian Government

In a nutshell, VinFast (if allowed) will surely change the face of the EV industry here in India. However, as EV making is not a cheap affair, the Vietnamese car maker would need the complete support of the Indian Government if India wants to achieve its EV sales as well as carbon emissions reduction goals.

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