VinFast, a Vietnam-based electric vehicle manufacturer is planning to enter the Indian market with its electric vehicles. With an investment of around USD 500 Million, the brand has already broken soil in Tamil Nadu where it plans to establish its manufacturing facility. The integrated EV manufacturing facility is likely to produce EVs for both the Indian market as well as for exports abroad.
VinFast to Locally Assemble its EVs
Speculation was that the company will be importing its vehicles to India in the initial stages. But, the latest reports reveal that VinFast is likely to locally assemble its cars in the Indian market. The electric vehicles are likely to be assembled in India at the Tamil Nadu plant. Thanks to this, change in strategy, the brand is likely to expedite the production facility’s opening. Reports also reveal that this could be as soon as March 2025. This leads us to believe that from about a year now, VinFast is likely to bring its first vehicle by next year. This is likely to be around the festive season next year.
In addition to this, reports in the past also revealed that the company has filed patents for the VF3 which could become the first VinFast product in the Indian market. Also, the brand is also road testing the VF e34 on Indian roads as per spyshots seen earlier.
VinFast Plans for India
If VinFast assembles its vehicles in the Indian market, the company will be saving on import duties and also boost confidence in its customers, dealers, and vendors. In addition to this, local assembly will also help achieve competitive pricing. This will also allow the brand to attain its peak capacity of 50,000 units per annum. Sources also reveal that VinFast will be revealing more details of its plans at the Bharat Mobility Expo in January 2025.
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