VinFast, Vietnam's largest electric vehicle (EV) manufacturer, is preparing to enter the Indian market with the ambition to make a significant impact on the world's third-largest automotive industry.

The company has already established a strong presence in its domestic market. VinFast has secured it's position as Vietnam's best-selling automotive brand for both October and the first ten months of 2024.

In January 2024, the company signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to establish a manufacturing facility.

The factory is expected to have an annual production capacity of 150,000 units at full scale, reflecting VinFast's confidence in the Indian market. The company's formal debut is anticipated at the Bharat Mobility Show in early 2025.

VinFast's impressive October sales highlight the growing demand for its EV models, particularly the VF 3 and VF 5. The current 21% sales growth of Vinfast compared to September indicates a strong consumer shift towards EVs in Vietnam.

The company not only leads the EV sector but has also surpassed traditional internal combustion engine (ICE) competitors in terms of market share. In just over five years since its launch, VinFast has rapidly become a trailblazer in Vietnam's automotive industry, positioning the country among the few where an EV brand leads in domestic auto sales.