Vietnam’s electric vehicle maker VinFast Auto has said that its two electric SUVs – VF 6 and VF 7 – will hit the Indian market later this year to mark its foray into the country.
VinFast unveiled its VF6 and VF7 SUVs at the India Auto Show in New Delhi as it hopes to draw buyers to its EVs and contribute to India’s goals of eliminating carbon emissions on a net basis, said Pham Sanh Chau, VinFast’s Asia CEO.
The company, which is investing $500 million to set up its manufacturing plant at Tuticorin in Tamil Nadu, expects completion of the facility in the second half of 2025 after which it will launch the products.
The factory will have an initial capacity of 50,000 cars a year and can be scaled up to 250,000 based on demand, Chau said.
It is also in talks with the government for its investment in India to be considered for incentives under the new EV policy and is looking to export EVs produced in India to the Middle East and African markets.
Stressing that the premium SUVs VF 7 and VF 6 will accelerate the adoption of EVs in India, Chau said, “We come with a long-term vision, with the factory being constructed, with a network of dealers and workshops, and also with a network of charging points, we want to come, not to sell the car, but want to build the whole infrastructures.”
Electric models accounted for about 2.5% of the more than 4 million vehicles sold in India last year. The government, targeting 30% by 2030, is working on a programme to attract EV makers.
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Last year the Centre approved an electric-vehicle policy, under which import duty concessions were offered to companies setting up manufacturing units in the country with a minimum investment of $500 million, a move aimed at attracting major global players like US-based Tesla.
