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Vietnamese conglomerate Vingroup is accelerating its expansion into India through its EV arm VinFast, which plans to launch its electric models VF7 and VF6 in the country ahead of the upcoming festive season. This marks Vingroup’s official entry into the Indian market.
VinFast has committed a $2 billion (approx. ₹16,600 crore) investment to establish a large-scale EV manufacturing facility in Thoothukudi, Tamil Nadu, chosen for its strategic logistics advantage with access to a nearby port and airport. “We explored multiple states and finally selected Thoothukudi for its excellent infrastructure,” said Pham Sanh Chau, CEO of VinFast Asia.
In addition to Tamil Nadu, VinFast is actively engaging with Telangana and Andhra Pradesh for potential future expansion. “India is a key market for us, and we aim to establish a larger footprint here,” Chau noted.
The company sees growing EV demand in Tier 2 and Tier 3 cities across India and plans to strengthen its dealership network based on regional growth opportunities.
Chau, who earlier served as Vietnam’s ambassador to India, emphasized the deep-rooted ties between the two nations and praised India's favorable investment climate. “Our historical relationship, dating back to the times of Mahatma Gandhi and Ho Chi Minh, and the current investment environment made this the right time to enter India,” he added.
VinFast already has operations in Indonesia, the Philippines, and the United States. Founded in 1993, Vingroup is Vietnam’s largest private conglomerate, with significant interests across industrials, technology, real estate, hospitality, healthcare, education, and scientific research.
