Vietnam’s largest conglomerate Vingroup is preparing to make a significant entry into the Indian market, spanning across sectors such as automobiles, real estate, education and hospitality.
“We would like to enter India with our whole ecosystem and a long-term commitment,” said Pham Sanh Chau, CEO of VinFast Asia, the group's automotive arm.
VinFast will debut in India with its VF7 and VF6 electric vehicle (EV) models, with bookings opening in June.
The company aims to build a strong brand presence across tier-2 and -3 cities, and will grow its dealership network according to each city's potential.
"VinFast will stand out in the Indian market for offering high-quality vehicles at an affordable price," said Chau.
Looking ahead, VinFast will also introduce four electric taxi models—Minio Green, Nerio Green, Herio Green and Limo Green—in 2026.
Currently, EVs account for 3-3.5% of India’s auto market.
Chau emphasised that India presents a strategic opportunity due to its high purchasing power, promising growth, and low EV adoption. “We aim to become one of the leading players in India within five years,” he said.
In 2024, the company began establishing a manufacturing plant in Thoothukudi in Tamil Nadu, with an investment commitment of up to $2 billion. The facility will have an annual production capacity of 50,000 vehicles and is expected to create around 3,500 jobs. VinFast plans to expand the production capacity to 150,000 vehicles annually to meet the market demand and explore export opportunities.
Ecosystem Approach
VinFast aims to enter India with a comprehensive ecosystem, which will include a nationwide dealer network, authorised third-party repair shops for quick customer service and charging stations.
The company is in talks with banks to facilitate financing solutions for both customers and dealers, said Chau. For charging infrastructure, he indicated openness to partnering with local firms.
Diversification Plans
Beyond EVs, Vingroup is exploring opportunities in real estate, renewable energy (wind and solar) and infrastructure development, including resorts like its Vinpearl brand in Vietnam, schools and shopping malls.
The company is in discussions with state governments, including Telangana and Andhra Pradesh, for smart cities projects. For renewable energy generation, talks are ongoing with Gujarat and Tamil Nadu.
“We’re very excited and optimistic about our operations in India,” Chau concluded. “India is a large and growing market—and we have prepared well for it.”
(The correspondent is in Hanoi at the invitation of Vingroup.)
“We would like to enter India with our whole ecosystem and a long-term commitment,” said Pham Sanh Chau, CEO of VinFast Asia, the group's automotive arm.
VinFast will debut in India with its VF7 and VF6 electric vehicle (EV) models, with bookings opening in June.
The company aims to build a strong brand presence across tier-2 and -3 cities, and will grow its dealership network according to each city's potential.
"VinFast will stand out in the Indian market for offering high-quality vehicles at an affordable price," said Chau.
Looking ahead, VinFast will also introduce four electric taxi models—Minio Green, Nerio Green, Herio Green and Limo Green—in 2026.
Currently, EVs account for 3-3.5% of India’s auto market.
Chau emphasised that India presents a strategic opportunity due to its high purchasing power, promising growth, and low EV adoption. “We aim to become one of the leading players in India within five years,” he said.
In 2024, the company began establishing a manufacturing plant in Thoothukudi in Tamil Nadu, with an investment commitment of up to $2 billion. The facility will have an annual production capacity of 50,000 vehicles and is expected to create around 3,500 jobs. VinFast plans to expand the production capacity to 150,000 vehicles annually to meet the market demand and explore export opportunities.
Ecosystem Approach
VinFast aims to enter India with a comprehensive ecosystem, which will include a nationwide dealer network, authorised third-party repair shops for quick customer service and charging stations.
The company is in talks with banks to facilitate financing solutions for both customers and dealers, said Chau. For charging infrastructure, he indicated openness to partnering with local firms.
Diversification Plans
Beyond EVs, Vingroup is exploring opportunities in real estate, renewable energy (wind and solar) and infrastructure development, including resorts like its Vinpearl brand in Vietnam, schools and shopping malls.
The company is in discussions with state governments, including Telangana and Andhra Pradesh, for smart cities projects. For renewable energy generation, talks are ongoing with Gujarat and Tamil Nadu.
“We’re very excited and optimistic about our operations in India,” Chau concluded. “India is a large and growing market—and we have prepared well for it.”
(The correspondent is in Hanoi at the invitation of Vingroup.)
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