VinFast enters India with two electric SUVs

NEW DELHI: Vietnamese electric carmaker VinFast became the latest company to enter India as it drove in two green SUVs, VF6 and VF7, on Saturday, debuting the vehicles during the festive period, reports Pankaj Doval.

The company, which has set up a factory in Tamil Nadu, priced the VF6 -- which comes strapped with a 59.6 kWh battery and promises a top range of 468 kms -- at Rs 16.5 lakh (ex-showroom). The VF7 - which also comes with a bigger 70.8 kWh battery and has a peak range of 532 kms -- has a starting price of Rs 20.9 lakh. The company hopes to close this year with a retail network of around 35 outlets.
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Pham Sanh Chau, CEO of VinFast Asia, said the company has set up a production capacity of 50,000 units in the first phase. "We plan to add another 1.5 lakh units to our output as we move into the second phase of expansion."

VinFast was initially seen as keen to participate in the govt's EV policy that allows subsidised import for 8,000 units annually if a company is ready to invest around $500 million in India for a factory. However, Chau - a former Vietnamese diplomat in India - said the company decided not to opt for the policy and rather faster with work on its local factory.

"We are bullish on India and plan to expand across categories. These include launching electric two-wheelers, commercial vehicles, and setting up a charging network. We are also exploring diversification into other business segments such as the hospitality sector," the VinFast official said.