VinFast Confirms India Debut

[350Z]

The Vietnam based electric vehicle manufacturer, VinFast, is all-set to commence its operations in India. The company has reportedly appointed Pham Sanh Chau as the CEO for VinFast India.

• Part of Vingroup, VinFast Auto Ltd. will initially introduce two imported electric cars in 2024. It eventually intends to setup a manufacturing plant in India, discussions for which are underway.
• Pham Sanh Chau is a Vietnamese politician, educator, and diplomat, with over two decades of experience. He has served as Vietnam's ambassador to India, Nepal, and Bhutan from 2018 to 2022.
• VinFast has opened its India headquarters in Gurugram and also roped in Ashwin Patil, former sales head at Kia India, who will serve as the vice president and director for the company's operations in India.

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350Z

 

[Rathore0027]

It feels great to be in such an era where India is seeing the arrival of various global automative companies in India. If we analyse, basically this company VinFast is capturing the opportunity which once the Haval was receiving in India. If Haval would have been allowed in India to start operations, then till now it would be dominating the Indian ev market due to low prices of Chinese components and their vehicles, making it difficult for such companies to work.

 

[350Z]

A recent media report indicates that Zac Hollis has joined VinFast as its Asia Head. Zac is the former brand director of Skoda Auto India, who played a key role in implementation of the India 2.0 strategy. (Source: Link).

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350Z

 

[350Z]

VinFast Auto has announced that the construction of its EV plant in Thoothukudi City, Tamil Nadu will commence on February 25, 2024.

• The partnership between VinFast and the Government of Tamil Nadu, began from the signed Memorandum of Understanding (MoU) announced on January 6, 2024.
• The collaboration aims toward an intended commitment of USD 500 million for the first phase of the integrated EV facility, spanning five years from the commencement date.
• This move is a significant milestone in VinFast's global expansion strategy of venturing into one of the world's fastest growing major economies and its burgeoning EV market.
• The VinFast Tamil Nadu project aims to develop into a first-class electric vehicle production hub in the region, with an annual capacity of up to 150,000 units in its full capacity.
• This facility will not only cater to development objectives in the Indian market, but will also serve the export demands to South Asian, Middle Eastern and African countries.
• VinFast’s integrated EV manufacturing facility in Tamil Nadu is projected to churn out about 3,000 to 3,500 local job opportunities.

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350Z

 

[350Z]

VinFast officially broke ground on its first integrated electric vehicle manufacturing facility in the state of Tamil Nadu.

Spanning 400 acres within the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) industrial estate, the electric vehicle facility has a projected capacity of 1,50,000 vehicles annually.



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350Z

 

[350Z]

A recent news report claims that VinFast will enter the Indian market with two CBU models: VinFast VF5 and VinFast VF e34. Both the cars are expected to be priced aggressively despite being imported.

VinFast VF5: Rivals the likes of Tata Nexon EV, Mahindra XUV400 etc.







VinFast VF e34: Rivals the likes of upcoming Tata Curvv EV, Hyundai Creta EV, Maruti Suzuki eVX.







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350Z

 

[a_ravi]

On one hand, yes, but on the other hand, it's disappointing that our country still can't offer a competitive product in this market.