EV Firm VinFast Proposes To Commence India EV operations in 2024

CIOTechOutlook Team | Tuesday, 16 January 2024, 03:35 IST

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VinFast, a Vietnamese electric vehicle (EV) manufacturer, is moving quickly to launch its India operations, with sales of its first two- and four-wheelers expected in the third quarter or second half of calendar year 2024, according to two people familiar with the plans on the condition of anonymity.
 
The company has held dealer ‘clinics’ with 30-35 potential Indian dealer partners in Vietnam, and is soon going to announce its distributor network, which will display both two- and four-wheelers. The company will import these vehicles as completely-built up units (CBUs), as per livemint.
 
VinFast, a Vietnamese company that sells battery-electric SUVs from entry-level to ultra-luxury, is expected to price its first import into India around ₹18-20 lakh. However, import duty structures on fully built-up cars in India may raise the price.  
 
While VinFast operates a mix of self-operated experience centers, direct sales and showrooms, and dealer-run showrooms in Vietnam and the United States, the company intends to enter the Indian market gradually, first appointing dealers in large tier-1 cities and then expanding to towns and cities in the interiors.
 
“With the Indian automotive sector and consumer moving up the value chain, VinFast can position itself as not only an entry-level player, but it can also do well to have one or two products in the more high-end of the market," the other person cited above said. “So, that feedback has been given to the company, but it may choose to start off operations with a single CBU product at a more affordable price," he added.
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