‘Don’t see as competitors’: VinFast Asia CEO on rivaling Tesla with premium EV launch plans in India

VinFast, the electrical automobile arm of Vietnam’s Vingroup, is making ready a daring entry into the Indian market- setting the stage for direct competitors with Tesla. With bookings for its autos scheduled to open this month, VinFast is banking on its VF7 and VF6 fashions to determine itself as a premium EV model in one of many world’s fastest-growing auto markets.Pham Sanh Chau, CEO of VinFast Asia and Vietnam’s former ambassador to India, confirmed that the corporate goals to launch its autos forward of the upcoming festive season. “We have our products in 16 countries, including Southeast Asia, the Middle East, the US… and VinFast will come to India with an entire ecosystem. Our first target is to position ourselves as the premium EV car in India through the VF7 and VF6, which we plan to roll out in the country by the festival season this year,” mentioned Chau, as quoted by information company PTI. Though Tesla is extensively anticipated to enter the Indian market with fanfare, Chau downplayed notions of rivalry. “We don’t see Tesla, or even BYD for that matter, as competition. Our mission is green mobility. Anyone who shares that dream will be our friend,” he mentioned. Still, VinFast’s plans clearly sign its intent to compete in the identical area Tesla is eyeing- prosperous city patrons prepared to pay a premium for electrical innovation.“In Vietnam, we are the biggest selling car company, the largest charger and taxi service provider. We have done everything in Vietnam, and this is the time for us to go global. We wanted to enter India as it is a growing, dynamic automobile market,” Chau introduced speaking about increasing in India.VinFast has already invested $500 million in its new manufacturing facility in Thoothukudi, Tamil Nadu, with a complete outlay of $2 billion dedicated by 2030. The plant, accomplished in simply 15 months with robust state and central authorities assist, will serve each the Indian market and export locations in the Middle East and Africa. Initial manufacturing capability is pegged at 50,000 models yearly, with a ramp-up to 150,000 deliberate primarily based on demand.To assist its launch, VinFast will showcase its fashions at high-traffic areas such as purchasing centres and airports earlier than bookings open. The VF7 and VF6, presently manufactured in Vietnam, will likely be imported initially, although localisation is central to the corporate’s long-term technique. “Localisation will help with government incentives, reduce costs, and make us more competitive,” Chau additionally mentioned, including that the corporate doesn’t presently profit from obligation exemptions in India.Pricing has not but been finalised, however Chau promised it could be “affordable” regardless of the premium positioning. “India is a sensitive market, and we will have an affordable price,” he mentioned, whereas stressing the VF7 and VF6 will likely be “premium vehicles.”Beyond manufacturing, VinFast is laying the inspiration for an EV ecosystem in India. This contains supplier networks, authorised service centres, charging infrastructure, and a used automobile alternate program. Talks with state governments are underway to determine charging stations, with Chau expressing confidence in attracting assist from Indian buyers as properly.By 2030, VinFast expects to make use of as much as 3,500 native employees, having already interviewed tons of of engineering graduates from Tamil Nadu, accordingto Chau’s assertion to PTI. The firm’s enlargement plan displays a deep dedication to India, which Chau described as a “growing, dynamic automobile market.”