VINFAST COMES AS A FULL PACKAGE TO INDIA.NOT JUST LAUNCH THEIR CARS IN THE INDIAN EV MARKET, BUT BUILD A WHOLE ECOSYSTEM IN THE COUNTRY.

“For us India is one of the most important markets because it is the third largest automobile market. It is a very promising and growing market. And lastly the EV adoption is still comparatively low.

- WORDS MIRA ERDA

Therefore, we decided to take this opportunity to enter the market” said Mr. Pham Sanh Chau, VinFast Asia CEO while talking about their great interest in entering the Indian EV market. VinFast took over the streets of Vietnam in just a couple of years, since its establishment in 2017, and then officially shifted to EV production only in 2022. VinFast as a brand believes in presenting itself as a start up company, which moves fast, is flexible and takes risks when necessary. With this motto, the brand has already established itself in 16 countries, starting from Vietnam, North America (including the USA and Canada), and European nations such as the Netherlands, France, and Germany, as well as in parts of Asia. In Asia, it operates across three regions: the Middle East, South Asia, and Southeast Asia.

VinFast’s STRATEGY TO ENTER THE INDIAN MARKET.

With three main pillars laid out, VinFast looks like it’s all set to enter the Indian EV market with a full proof plan. It has taken a different approach and decided to first establish its manufacturing plant. After visiting and researching six states and 15 locations, the brand chose Thoothukudi, Chennai, as the site for its plant — prior to launching its cars in the market. This location makes operations more accessible and efficient for the brand, as it is close to both a seaport and an international airport, supporting future export plans. When asked about its reasoning behind it Mr. Chau mentioned, “Some OEMs start with the import of CBUs to test the market. Then, they either build the factory or they don’t build the factory. For VinFast, we have done the market research and we think it is very important for us to enter the market with the factory first. And the reason we didn’t bring in the CBUs is that we believe that we can build the factory very fast. And therefore, we did not join the scheme proposed by the federal government.”