VINFAST EVS
Electric car sales nearly double in October
Electric car sales in India nearly doubled year-on-year to 35,777 units in October, taking their share of passenger vehicle sales to 7% from 3.2% a year earlier. Tata Motors led with a 40.7% market share, followed by Mahindra at 23.7%, as high fuel prices and expanding charging infrastructure supported demand.
Volkswagen freezes India EV investment as JSW partnership talks continue
Volkswagen has paused further investment in its India electric-vehicle programme pending greater clarity on a potential partnership with Sajjan Jindal’s JSW Group. The German automaker has completed preliminary design work using a low-cost EV platform developed for China but awaits a clearer business plan. The pause could delay its India EV push as competition intensifies and affordable electric-car sales accelerate.
VinFast signs letters of intent for over 50 electric two-wheeler showrooms in India
With these LOIs, the company plans to set up more than 50 two-wheeler showrooms across 34 cities in 15 states and Union Territories. The showrooms will be set up in Delhi-NCR, Rajasthan, Punjab, Madhya Pradesh, Chhattisgarh, Uttar Pradesh, Maharashtra and Gujarat, the company said in a statement.
Trev plans 2,500-vehicle premium EV fleet by 2031, raising $2 million
Aiming to elevate its electric vehicle fleet from 105 to 300 by the close of the financial year, Trev Mobility is in the process of raising $2 million, having almost reached $1 million in funding thus far. With its fleet comprising deluxe electric vehicles, Trev offers distinct services outside mainstream ride-hailing markets.
EV boom gathers pace as electric car sales jump 95% on fuel prices, new models
India's electric vehicle market recorded substantial growth in September, with sales reaching 34,894 units. This represents a 95% increase compared to last year's figures. Tata Motors maintained its market leadership with a 42.2% share, while Mahindra followed with 22.2%. Interestingly, newer entrants like VinFast and Maruti Suzuki captured significant market shares within a short span.
In CAFE 3, auto companies have wider choices and a better view of the road
India's new CAFE 3 emission norms are set to reshape automakers' investment strategies by promoting cleaner technologies alongside electric vehicles. These regulations introduce a credit system for various powertrains, encouraging firms to rethink their portfolios and investments through March 2032. This shift could impact companies heavily invested in battery EVs, offering a broader compliance path for others.
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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.
Electric two-wheeler maker Ultraviolette to invest Rs 779 crore in new manafacturing facility in TN over next 5 years: CEO Narayan Subramaniam
Electric two-wheeler maker Ultraviolette will establish a new manufacturing facility in Hosur, Tamil Nadu. The company plans to invest Rs 779 crore over the next five years for this expansion. This new BIGGA Factory will have an initial capacity of 250,000 vehicles annually. The facility will support the production of Ultraviolette's Tesseract electric scooter and future models.
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.
India's passenger vehicle market tilts towards cleaner fuels; alternatives cross petrol: Report
Cleaner-fuel vehicles now account for 42 percent of passenger car sales in India. This marks the first time these alternatives have outsold petrol-powered vehicles. Petrol's market share dropped to a record low of 41 percent in August. Compressed natural gas vehicles saw their share rise to 25 percent. Electric car sales increased significantly, reaching 7.7 percent penetration.
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.
VinFast India partners Shriram Finance for vehicle finance
VinFast India has joined hands with Shriram Finance Ltd to boost electric vehicle adoption through accessible retail finance. This collaboration offers customers up to 100% on-road funding, competitive interest rates, and flexible repayment plans. Leveraging Shriram Finance's wide network, the partnership aims to simplify EV ownership and accelerate its uptake across India, supporting a greener mobility future.
V-Green, ChargeZone partner to build charging infra for VinFast customers in India
Vingroup's V-Green and ChargeZone are joining forces to build electric vehicle charging stations across India. This collaboration will support VinFast's expansion in the country. Fifteen charging stations are already operational. The companies plan to add nearly 100 more stations in the next six months.
North Carolina sues Vietnam's VinFast over delayed EV project
North Carolina has sued Vietnamese EV maker VinFast for failing to meet its commitments to build a factory. The company has abandoned the site for over a year, despite agreements to create 7,500 jobs and invest over $3 billion. The state seeks repayment of $80 million and the right to acquire the land for another manufacturer.
Global Stocks: VinFast Q4 loss widens, aims to restart US plant construction
Vietnamese electric vehicle manufacturer VinFast said on Monday its fourth-quarter net loss widened from a year earlier as it increased impairment charges related to its U.S. plant, which it aims to resume construction of this year
After Tesla's desi debut, Vietnamese EV maker VinFast opens first showroom in India
Vietnamese EV maker VinFast has opened its first Indian showroom in Surat, Gujarat, ahead of launching a local manufacturing plant in Tamil Nadu. The showroom will feature right-hand drive versions of the VF 6 and VF 7 SUVs, now open for pre-booking. VinFast plans 35 dealerships by year-end. Entering a growing EV market, it faces competition from Tesla, which debuted in India this month.
EV maker VinFast signs pacts with 13 dealer groups; aims 35 dealerships in India by 2025-end
VinFast Auto India has partnered with 13 dealer groups to launch 32 dealerships across 27 Indian cities, aiming for 35 dealerships by 2025. This move supports VinFast's plan to establish a strong 3S network and facilitate the upcoming pre-booking of the VF 6 and VF 7 models on July 15.
VinFast partners with RoadGrid for EV charging, servicing in India
VinFast, the electric vehicle maker, is gearing up to launch in India. They have partnered with RoadGrid for EV charging and aftersales solutions. This collaboration aims to ensure convenient charging access for VinFast customers. VinFast plans to establish service workshops across India. The company is investing heavily in a manufacturing plant in Tamil Nadu.
VinFast in talks with Adani Group, Megha Engineering for electric car venture
Vietnamese EV maker VinFast is considering Indian companies MEIL and Adani Group as potential partners for its electric car venture in India. VinFast is looking for a local partner to help navigate the Indian market and establish a supply chain. While discussions are ongoing, no final decisions have been made.
VinFast VF e34 electric SUV spotted in India. Here's what we know about it
VinFast, an EV maker, has started building an integrated EV facility in India, particularly in Tamil Nadu. A test mule of its electric SUV, the VF e34, has been spotted on Indian roads.
Founder of EV maker VinFast launches global charging stations venture
V-Green, led by VinFast's founder Pham Nhat Vuong, focuses on global EV charging network expansion. With a $404 million investment over two years, Vuong aims for a comprehensive charging network while Green SM drives sales for VinFast.
A Tesla rival is driving into India. What lies ahead for it
VinFast, a small electric vehicle (EV) maker backed by Vietnam's largest conglomerate, is expanding into India. The company plans to establish a $2 billion EV facility in Tamil Nadu and intends to build a nationwide dealership network. VinFast aims to offer affordable alternatives to Tesla in the Indian market and capitalize on the growing demand for EVs. Despite the challenges of the Indian EV industry, VinFast could have an advantage as one of the first EV-only companies operating in the country.
VinFast's ground-breaking to take place on February 25
VinFast's integrated electric vehicle (EV) manufacturing facility is in Thoothukudi. Last month, VinFast had confirmed its plan to start manufacturing EVs in India and had committed $500 million for the first phase of the project.
Vinfast to build integrated electric vehicle facility in Tamil Nadu with total investment of $2 billion
The company, in a statement said that it has committed $500 million for the first phase of the project and that the total outlay will span five years from the commencement date.
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)
Vietnam's VinFast to set up EV battery plant in Tamil Nadu: Sources
Vietnamese electric vehicle maker VinFast is set to open its first Indian manufacturing facility in Tamil Nadu, where it will manufacture batteries for electric vehicles (EVs). The plant will be located in Thoothukudi, separate from its previous plans to assemble vehicles from Vietnam. VinFast, which competes with carmakers like Tesla and China's BYD, declined to comment on the new plant.
Vietnam's Vinfast committed to selling EVs to US despite challenges, intense competition
Worldwide, Vinfast sold just 19,562 EVs from April-September, well below its 2023 target of 50,000. But Vinfast is committed to riding the wave of countries trying to switch to EVs to cut emissions, Thuy said while speaking with The Associated Press at Vinfast's sleek headquarters in Hanoi.
VinFast revenues jump on EV sales to Vietnam affiliate
VinFast, which is backed by Vietnam's largest conglomerate Vingroup, is gearing up to strengthen its foothold overseas, including India.
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