VinFast Targets Top-Four Position in India's EV Market as Product Push Gathers Pace

Vietnamese electric vehicle maker VinFast is targeting a place among the top four electric vehicle sellers in India, as it steps up its product rollout, localisation efforts, and ecosystem investments in one of the world's fastest-growing EV markets, Pham Sanh Chau, CEO of VinFast Asia, told Autocar Professional.

VinFast broke into the top 4 brands in retail sales for December, behind Tata Motors, JSW MG Motor, and Mahindra & Mahindra, with deliveries of over 400 vehicles. 

Chau said the company is focused on retaining that position through 2026, even as competition intensifies with the entry of new models and the expansion of established players.

"Our objective for 2026 is to maintain the fourth position in the EV OEM list. It is not easy, given the number of players and the intensity of competition, but that is the target we are working towards," Chau said.

VinFast's current India product portfolio includes the VF6 and VF7 electric SUVs, both of which have already been launched and are assembled locally. As part of its next phase of expansion, the company plans to introduce the smaller VF5 electric SUV and the Limogreen electric MPV, while also exploring the VF3 as a potential entry-level offering for India, according to people in the know. 

VinFast's India strategy is anchored in the steady expansion of its product portfolio, with the company planning to launch one new model every six months rather than flooding the market with multiple products at once. 

Chau said this phased approach allows customers time to understand and absorb each new offering, while enabling the company to build scale sustainably.

The company believes its early establishment of local assembly, combined with competitive pricing and an expanding sales and service network, has helped it gain traction faster than several other new entrants.

"One key factor is that we have an assembly factory in India. Another is that we have been very clear about our target customer group and pricing. And finally, we have invested in sales and after-sales to ensure customer confidence," Chau said.

VinFast is also leaning on fleet sales and institutional demand as part of its growth strategy, a playbook it has used in other markets to build volumes and brand visibility. Chau said this, along with continued investments in charging infrastructure through its V-Green arm, forms part of a broader effort to strengthen its EV ecosystem in India.

While the company faces stiff competition from legacy manufacturers and newer EV-focused players alike, Chau reiterated that VinFast views India as a long-term strategic market, not a short-term volume play.

"We do not come all at once. We move step by step. The focus is on building a strong foundation and growing steadily," he said.