Vietnam’s Vingroup Expands into India with EVs and Real Estate
Vingroup, Vietnam’s largest conglomerate, is set to enter the Indian market with a comprehensive ecosystem including electric vehicles (EVs), real estate, and renewable energy. VinFast Asia will debut with its VF7 and VF6 EV models, with bookings opening in June.
VingroupVinfastEvsReal EstateIndiaReal Estate NewsJun 01, 2025
“We would like to enter India with our whole ecosystem and a long-term commitment,” said Pham Sanh Chau, CEO of VinFast Asia, the group's automotive arm.
VinFast will debut in India with its VF7 and VF6 electric vehicle (EV) models, with bookings opening in June. The company aims to build a strong brand presence across tier-2 and -3 cities, and will grow its dealership network according to each city's potential.
“VinFast will stand out in the Indian market for offering high-quality vehicles at an affordable price,” said Chau.
Looking ahead, VinFast will also introduce four electric taxi models—Minio Green, Nerio Green, Herio Green, and Limo Green—in 2026. Currently, EVs account for 3-3.5% of India’s auto market. Chau emphasised that India presents a strategic opportunity due to its high purchasing power, promising growth, and low EV adoption. “We aim to become one of the leading players in India within five years,” he said.
In 2024, the company began establishing a manufacturing plant in Thoothukudi in Tamil Nadu, with an investment commitment of up to $2 billion. The facility will have an annual production capacity of 50,000 vehicles and is expected to create around 3,500 jobs. VinFast plans to expand the production capacity to 150,000 vehicles annually to meet the market demand and explore export opportunities.
VinFast aims to enter India with a comprehensive ecosystem, which will include a nationwide dealer network, authorised third-party repair shops for quick customer service, and charging stations. The company is in talks with banks to facilitate financing solutions for both customers and dealers, said Chau. For charging infrastructure, he indicated openness to partnering with local firms.
Beyond EVs, Vingroup is exploring opportunities in real estate, renewable energy (wind and solar), and infrastructure development, including resorts like its Vinpearl brand in Vietnam, schools, and shopping malls. The company is in discussions with state governments, including Telangana and Andhra Pradesh, for smart cities projects. For renewable energy generation, talks are ongoing with Gujarat and Tamil Nadu.
“We’re very excited and optimistic about our operations in India,” Chau concluded. “India is a large and growing market—and we have prepared well for it.”
Vingroup is a leading Vietnamese conglomerate with a diverse portfolio of businesses. The company is known for its high-quality products and services, and its entry into the Indian market is expected to bring significant economic benefits and job opportunities.
Frequently Asked Questions
When will VinFast start accepting bookings for its EVs in India?
VinFast will start accepting bookings for its VF7 and VF6 EV models in June 2023.
What is the production capacity of VinFast's manufacturing plant in Thoothukudi?
The initial production capacity of VinFast's manufacturing plant in Thoothukudi, Tamil Nadu, is 50,000 vehicles annually, with plans to expand to 150,000 vehicles.
What other sectors is Vingroup exploring in India besides EVs?
Vingroup is exploring opportunities in real estate, renewable energy (wind and solar), and infrastructure development, including resorts, schools, and shopping malls.
Which states is Vingroup in talks with for smart cities projects?
Vingroup is in discussions with state governments, including Telangana and Andhra Pradesh, for smart cities projects.
What is the target market share for VinFast in India?
VinFast aims to become one of the leading players in India within five years, capitalizing on the growing EV market and high purchasing power.
Related News Articles
India's Tax Authorities Crack Down on Wealthy Indians with Foreign Properties
The Indian government is intensifying its efforts to combat black money and ensure transparency, with the income tax department now scrutinizing real estate investments made by high-net-worth individuals (HNIs) abroad.
Nagpur Set to Witness a Property Boom this Festive Season with Credai's 14th Mega Property Expo
Nagpur: Get ready to find your dream home as Credai Nagpur Metro is all set to host its 14th Mega Property Expo from October 4 to 7 at Chitnavis Centre.
Atharv Lifestyle Receives Prestigious Excellence in Luxury Homes Award
Mumbai's real estate landscape has been significantly enriched by the recent recognition of Atharv Lifestyle. The company was honored with the Excellence in Luxury Homes Award at a high-profile event, attended by notable dignitaries and industry leaders.
Indian Real Estate Anticipated to Flourish in 2025: Report
According to a recent report by Colliers India, the year 2025 is expected to bring significant consolidation and continued innovation in the Indian real estate sector.
Starwood Property Trust Secures $500M in Senior Notes
Starwood Property Trust (NYSE:STWD), a $6.5 billion market cap real estate investment trust, has successfully issued $500 million in senior notes amid challenging market conditions. The company, currently trading near its 52-week low at $19.30, aims to st
Real Estate Sector Urges Higher Tax Benefits for Home Loans and Rental Housing
The real estate industry has called for increased attention to rental housing and higher tax benefits on home loans in a recent pre-Budget consultation with the finance minister.