Tesla-rival VinFast’s first compact SUV EV to hit Indian roads in April 2024; check all details

Vietnam-based electric vehicle (EV) manufacturer VinFast is gearing up to make significant strides in India’s booming EV market with the initiation of its first electric vehicle manufacturing facility. The company, often considered a rival to Tesla, aims to capitalize on India’s flourishing EV sector, strategically setting up its plant in Thoothukudi, Tamil Nadu.

The construction of VinFast’s India plant is slated to commence on February 25, marking a crucial step in the company’s global expansion strategy. The integrated EV manufacturing site is a result of an MOU signed with the Tamil Nadu government on January 6, 2024, representing an investment commitment of approximately Rs 425 crore for the initial five years.

Notably, India will have VinFast’s fourth plant, after Vietnam, the USA, and Indonesia. The carmaker is also eying a collaboration with the Tamil Nadu government to establish a robust charging infrastructure.

VinFast’s foray into the Indian market is not just about domestic production. The company envisions the facility generating 3,000 to 3,500 local job opportunities, positioning Tamil Nadu as an electric vehicle production hub in the country. The plant’s annual capacity is projected to reach up to 1,50,000 units at full throttle, catering not only to the Indian market but also supporting VinFast’s export endeavors in South Asian, Middle Eastern, and African countries.

VinFast has a Promising SUV EV Line-Up

VinFast offers an exciting EV line-up in its V-series, featuring the VF6, VF7, VF8, and VF9 models. At Techtrackr, we anticipate the initial launch of the VF6 and VF7 models in India. Both SUVs come packed with cutting-edge technology features, aggressive styling, and practicality. The VF 6, lauded as one of the most technologically advanced subcompact eSUVs in its class, boasts features like vegan leather seats, spacious interiors, a panoramic sunroof, big head-up displays, and advanced highway driving assistance modes (ADAS).

VinFast’s entry into the Indian market is expected to heighten competition, positioning its offerings as slightly higher-priced alternatives. The VF series will compete with mid-luxurious EVs in India, presenting a challenge to established players like the Kia EV6, Hyundai Ioniq 5, and upcoming electric vehicles from BYD and Tesla.

As VinFast’s construction kicks off, all eyes are on the unfolding developments in this dynamic sector. The EV fight is just about to get a lot more exciting in India, which is the world’s third-largest automobile market.