VinFast's India plan on despite no clarity on govt incentive

VIETNAM'S LEADING AUTOMAKER VinFast has decided to go ahead with its India plan irrespective of whether the government decides to include it in the EV manufacturing promotion scheme.

- SWARAJ BAGGONKAR New Delhi, January 19

A top company executive said that though talks with the government are still on, irrespective of the outcome, VinFast will still proceed with its investment plan. VinFast has committed an investment of $500 million (₹4,300 crore) in the country.

After the announcement of Centre's Scheme to Promote Manufacturing of Electric Passenger Cars in India, VinFast was keen to become a beneficiary of the move. But since VinFast's investment announcement came before the government's roll out of the scheme, there was confusion whether the Vietnamese was eligible for it.