VinFast is changing its strategy in the Indian market. According to reports, the Vietnamese electric vehicle manufacturer is preparing two new models specifically adapted for the Indian market that will have a highly competitive price.
According to Reuters, one of these future vehicles could be released at a price below $12,000 USD, which is equivalent to approximately 10 lakh rupees. It is planned that the two expected electric vehicles have code names VF X and VF Y, although their planning is still in the early stages.
VinFast has not yet provided official information about these models, and the company reserves the right to change its plan as production approaches. This move differs from the company's initial plan, according to which it intended to carry out local production of the VF 3, VF 6, and VF 7 models in India.
Currently, the company sells the VF 6 and VF 7 models in India, which arrive via the CKD route and are assembled at the factory in Tamil Nadu. The company decided to cancel plans to produce international models in India.
The new models will be developed taking into account India's specific needs, focusing on cost. To this end, the company has started negotiations with Indian component suppliers. The goal is to simplify production in India, which will allow the company to increase the level of localization and control production costs.
The VF X model is particularly important among the upcoming new arrivals. Reports indicate that VinFast aims to set the price of this car below $12,000, meaning it will be available in the Indian segment in a budget of less than 10 thousand rupees. In size, the VF X will be between the VF 3 and VF 6 models.
This car will be compact and offer more interior space compared to the VF 3. If the company releases this model at a price below 10 lakh rupees, it will directly compete with Tata Motors, which currently leads in electric vehicle sales in the Indian market, especially in the budget segment up to 10 lakh rupees.