VIETNAMESE AUTOMAKER
India’s cab game has a new green player: A Vietnamese behemoth aiming to win fast
Green SM enters India with a controlled electric vehicle fleet, challenging the aggregator model. This Vietnamese company aims for a premium segment, unlike Uber and Ola's mass-market approach. BluSmart's prior electric fleet operations faced challenges after regulatory issues arose. Green SM's strategy is closely linked to VinFast, its parent automotive ecosystem. Success hinges on managing fleet costs and attracting customers to its premium electric service.
VinFast plans to develop two India-specific EVs in strategy shift, sources say
Vietnamese automaker VinFast is developing two new electric vehicles for India. These new models will be more affordable than current offerings. This strategic shift follows the suspension of plans for global models in India. VinFast aims to build these vehicles using local suppliers from the start. The company is investing significantly in India as a manufacturing hub.
VinFast puts the brakes on manufacturing some cars in India
VinFast has temporarily halted development and local manufacturing plans for three electric vehicles in India, asking suppliers to stop work while it reassesses costs. The move affects the VF3, VF6 and VF7 programmes and comes amid the automaker’s struggle to gain scale in India, despite its $2-billion expansion plans.
7-seater EV race heats up as VinFast, Mahindra & Mahindra, BYD, JSW MG, Kia target big families in India
The electric vehicle revolution in India is not just about getting from point A to B; it’s now about enhancing family journeys. With the emergence of seven-seater electric vehicles, automakers are capitalizing on this fast-growing segment. Designed for comfort, versatility, and efficiency, these models are attracting the attention of affluent city dwellers eager to embrace modern, eco-friendly transportation.
Vietnam's Vingroup to develop $3 billion ecosystem in Telangana, strengthens India push
Vietnam's Vingroup plans a significant $3 billion investment in Telangana, India. The conglomerate will establish a multi-sector ecosystem covering urban development, electric mobility, healthcare, education, tourism, and renewable energy. This ambitious project aims to create a substantial presence for Vingroup in India's rapidly growing economy. Telangana's government will support land allocation and approvals for the initiative.
Tesla takes a hit as money-minded Indians prefer Vinfast instead
India's electric vehicle market is booming. Vietnamese automaker VinFast is gaining traction with affordable models and a growing showroom network. American giant Tesla, meanwhile, is taking a slower approach, focusing on premium imports. Other companies are also expanding their EV plans.
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Global automakers seek local tie-ups to steer India plans
Global automakers are finding India a challenging market, with many exploring local partnerships to navigate policy, market insights, and distribution hurdles. Companies like MG Motor have already found success through joint ventures, while others like Ford and GM have exited. New entrants and established players are now considering alliances to achieve sustainable growth and profitability in this dynamic market.
VinFast to make in India: This is the landscape that awaits the Vietnamese EV maker
VinFast's $500-million EV plant is located in Tamil Nadu's Thoothukudi district, and is part of a planned $2 billion investment in India and a broader expansion across Asia. The facility will initially make 50,000 electric vehicles annually, with room to triple output to 150,000 cars.
Tesla’s reputation tanks: Survey ranks it the least-trusted car brand in US - this Japanese brand scores big
Tesla's popularity is plummeting among American consumers, with the lowest net trust and brand perception scores in the US, according to a recent report. Only 26% of respondents view Tesla positively, while 39% hold a negative view. Toyota, despite a late entry into the EV market, now leads in positive brand perception.
Why global EV giants like Tesla, BYD can't challenge India's Tatas and Mahindras: Anand Rathi report cites key reasons
India’s passenger vehicle market is unlikely to face major disruption from new competition in the near future. Reports suggest that global players like Tesla and BYD struggle with local regulations, pricing, and market dynamics. Despite government efforts to encourage electric vehicles (EVs), challenges such as high import duties and localisation requirements keep the sector largely dominated by homegrown brands. Experts argue that established Indian automakers hold a strong advantage, making it difficult for new entrants to gain ground.
VinFast in search for a partner to go biking in India
Vietnamese electric vehicle maker VinFast is exploring options to enter the Indian market for high-speed electric two-wheelers, including potential technical alliances or contract manufacturing partnerships with local firms. VinFast showcased its models at the New Delhi auto show and aims for maximum localisation in India.
VinFast to enter India with premium electric SUV to take on rivals
Vietnamese electric vehicle maker VinFast is set to enter the Indian market with its premium electric SUVs, VF6 and VF7. It aims to compete with local company Mahindra & Mahindra and China's BYD. VinFast plans to invest $500 million in a car and battery factory in Tamil Nadu and is also focusing on establishing charging infrastructure.
New Delhi auto show: Maruti Suzuki, Hyundai and Skoda Auto unveil a slew of electric car models
Senior industry executives said that new launches, especially in the high-volume mid-size SUV market will propel a doubling of EV sales in India within two years. Electric car penetration stood at a modest 2.4% in calendar 2024 that saw record domestic sales of 4.3 million passenger vehicles.
Carmakers in India plan EV onslaught in 2025 despite slowing global demand
Automakers in India are set to launch around a dozen new electric vehicle models in 2025, with companies like VinFast, BYD, Hyundai, and Maruti Suzuki showcasing their latest advancements. India's EV market, though small, showed a 20% growth in 2024, outpacing overall car sales. New models offering longer ranges and faster charging times are expected to boost demand.
Investments in new EV assembly line within a factory eligible for sops
The Indian government clarified that investments in dedicated EV assembly lines within existing factories will qualify for incentives under the SMEC. This clarification was sought by global EV makers, including those already present in India, who are considering participating in the scheme. Some automakers are awaiting final guidelines before committing, while others, like Mercedes-Benz, currently have sufficient local production capacity.
EV maker VinFast narrows Q3 losses, beats revenue estimates on strong demand
The Haiphong, Vietnam-based company delivered 44,773 cars in the first nine months of 2024, more than 55% of its 80,000 target for the year. About one-fifth of these deliveries were to related parties, the company said.
Ford in talks to make EVs in way back to India: Tamil Nadu Industries Minister T.R.B. Rajaa
Ford Motor Co. is considering producing electric vehicles at its Tamil Nadu plant in southern India, marking its return to the region after a three-year hiatus. The move aligns with India's plan to enhance EV manufacturing and capitalize on Tamil Nadu's growing status as a hub for electric vehicle production.
Bharat Mobility Show 2025: From Tata to BYD, auto giants line up for Delhi ramp; set to become world's biggest auto expo
India's Bharat Mobility Show in January featured 28 automakers, including Tata Motors and Maruti Suzuki, focusing heavily on electric vehicles. The event showed heightened interest, with participation surpassing previous records and competing with major global auto expos. Emerging markets like India are experiencing robust growth in the auto sector.
Changes likely in India's new EV policy, may benefit legacy car companies
The move comes as US electric carmaker Tesla Inc is still to make any firm commitment on building a factory in India. The policy, which aims to accelerate the local manufacturing of high-end electric cars, currently supports only fresh investments. Consultations are also on with stakeholders on another key issue troubling carmakers.
VinFast making a tiny EV for about Rs 8 lakh to change its fortunes. Is it coming to India?
Designed specifically for the Vietnamese and other Asian markets, the VF3 is priced for "mass appeal", according to VinFast. The VF3 might also appeal to Indian families looking for a compact car with a range suitable for getting around in India's crowded cities.
India's electric car incentives limited to new investments: Officials
The Indian government's scheme to promote local production of electric cars will offer incentives only to automakers investing in new manufacturing facilities in the country, officials have revealed. Foreign firms, including those already operating in India, can apply for benefits under the Scheme for Manufacturing of Electric Cars (SMEC) but with no retrospective approval for previous investments.
Musk, Ambani on a drive? Tesla likely seeks JV with Reliance for Indian EV manufacturing
Reliance-Tesla: Tesla is making strides towards entering the Indian automobile market, with talks of a potential joint venture with Mukesh Ambani's Reliance Industries to establish a manufacturing facility. The move aligns with India's push for electric vehicles, with attractive land proposals from states like Maharashtra and Gujarat.
India EV sales to rise 66% this year after nearly doubling in 2023, report says
India's EV market is growing rapidly, with sales expected to rise by 66% this year. By 2030, EVs could make up nearly a third of the country's personal vehicle market, attracting investments from companies like Tata Motors, Tesla, and VinFast.
It is up to Tesla to lay down EV plant investment plans: DPIIT Secy
India's industry secretary, Rajesh Kumar Singh, has urged Tesla to announce its investment plans in the South Asian nation following the government's cut in import duty on electric vehicles. The department released a policy to boost EV manufacturing, and it is up to Tesla to make the announcements. Tesla plans to send a team to India for a proposed $2 billion to $3 billion electric car plant and increase purchases of auto parts from the nation to $15 billion.
VinFast echoes Tesla's demand for India to cut import duty on electric cars
Vietnamese electric vehicle maker VinFast has requested India to reduce import duties on its cars for about two years while a local manufacturing plant comes on stream in Tamil Nadu. VinFast hopes to start production, for domestic sales first and then exports, by the middle of next year. India is considering the requests but has not made a decision.
Vietnam EV maker VinFast names founder as CEO, replaces CFO
Pham Nhat Vuong, 55, replaces Le Thi Thu Thuy, who had held the post since late 2021, VinFast said in a statement. Thuy, a finance expert, will serve as chairwoman and lead engagement with external stakeholders.
Vietnam EV maker VinFast names founder as CEO, replaces CFO
Vuong, 55, replaces Le Thi Thu Thuy, who held the post since late 2021, VinFast said in a statement. The company named Nguyen Lan Anh as chief financial officer. (Reporting by Phuong Nguyen; Editing by William Mallard)
Now, Tesla rival VinFast looks to make in India
No clarity yet on whether Vietnam co looking at exports or new unit would only serve India market
Vietnamese automaker VinFast to manufacture electric vehicles in North Carolina
A Vietnamese automaker recently disclosed plans to set up a plant in North Carolina to manufacture electric vehicles (EVs). The move is likely to create 7,500 job opportunities in the state and augurs well in the long run.
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