Latest news with #Vingroup
India Today
2 days ago
- Automotive
- India Today
VinFast is all set to launch these cars in India
Vietnamese electric vehicle (EV) manufacturer VinFast is set to make its debut in the Indian market with the launch of much-anticipated electric SUVs. The company, which has rapidly gained attention in the global EV market, aims to capture a share of India's electric vehicle market. The company will open bookings for the two EVs this is VinFast?VinFast is a Vietnamese automotive company established in 2017 by Vingroup, Vietnam's largest private conglomerate. Headquartered in Haiphong, Vietnam, VinFast specialises in manufacturing electric vehicles (EVs), including cars, scooters, and buses. The company has rapidly expanded its global footprint, with operations in America, Europe, and Asia. VinFast's global strategy includes establishing manufacturing facilities and expanding its EV lineup to cater to diverse is VinFast planning to do in India?VinFast is set to enter the Indian market this year, marking its debut with the launch of two electric SUVs: the VF7 and VF6. Bookings for these models will open later this month. The company is investing 2 billion USD to establish an EV manufacturing facility in Thoothukudi, Tamil Nadu, with an initial production capacity of 50,000 vehicles per year, scalable up to 150,000 units. VinFast aims to expand its presence across 33 cities in India and is exploring further investments in states like Andhra Pradesh and VF6: What to expect? The VF6 measures 4,241mm in length, 1,834mm in width, and 1,580mm in height with a 2,730mm wheelbase. advertisement The VinFast VF6 will be the brand's most accessible offering in India, positioned below the VF7. Measuring 4,241mm in length, 1,834mm in width, and 1,580mm in height with a 2,730mm wheelbase, the VF6 enters the same segment as the Hyundai Creta Electric and Tata It showcases VinFast's signature design language with a sloping roofline that gives it a sporty coupe-SUV the hood, the VF6 is powered by a front-wheel-drive setup with two powertrain options—an Eco variant producing 174bhp and 250Nm of torque, and a Plus variant generating 201bhp and 310Nm. Both versions are equipped with a 59.6 kWh battery pack, offering a WLTP-certified range of up to 399km for the Eco and 381km for the Plus. The VF6 accelerates from 0 to 100 km/h in 8.89 seconds. Both versions of the VF6 are equipped with a 59.6 kWh battery pack. Inside, the VF6 mirrors the cabin layout of the VF7, offering a modern, minimalist interior. It features a 12.9-inch infotainment screen angled toward the driver, with most vehicle controls integrated into the touchscreen. A Head-Up Display (HUD) replaces the traditional instrument cluster. Other interior highlights include an edge-to-edge panoramic glass roof, vegan leather upholstery, an 8-way power-adjustable driver's seat with ventilation, dual-zone automatic climate control, rear AC vents, an air purifier with PM1.0 filtration, and wireless Android Auto & Apple CarPlay. The VF6 comes equipped with rain-sensing wipers and a powered tailgate. The VF6 also comes equipped with Level 2 ADAS as standard, offering features like Adaptive Cruise Control, Lane Centring Control, Blind Spot Detection, Rear Cross Traffic Alert, 360 Surround View Monitoring, and Automatic Emergency Braking. Additional convenience and safety tech includes 7 airbags, rain-sensing wipers, a powered tailgate, remote vehicle control via mobile app, OTA updates, and multiple special modes like Camp, Pet, Wash, and VF7: What to expect?The VinFast VF7 measures 4,545mm in length, 1,890mm in width, and 1,635.75mm in height, with a wheelbase of 2,840mm. Globally, the VF7 is available in two variants: Eco and Plus. Both variants are powered by a 75.3kWh battery (with a usable capacity of 70.8kWh), supporting different drivetrain configurations. The Eco variant is front-wheel drive, equipped with a single motor delivering 201 bhp and 310Nm of torque, offering a range of up to 450km (WLTP). The Plus variant, on the other hand, features a dual-motor all-wheel-drive setup that produces 348bhp and 500 Nm, achieving a range of up to 431km. Acceleration from 0 to 100 km/h takes 9.5 seconds in the Eco and just 5.8 seconds in the Plus. In terms of dimensions, the VinFast VF7 measures 4,545mm in length, 1,890mm in width, and 1,635.75mm in height, with a wheelbase of 2,840mm. advertisementOn the tech front, the VF7 includes a touchscreen infotainment system—12.9 inches in the Eco version and 15 inches in the Plus—along with support for over-the-air (OTA) updates complemented by a Head-Up Display (HUD) that replaces the traditional instrument cluster. The cabin features vegan leather upholstery, an edge-to-edge panoramic glass roof, dual-zone automatic climate control, and a PM1.0 air filtration system with ionizer. Both front seats come with ventilation and the driver's seat offers 8-way power adjustment. The overall layout is driver-focused, with most controls integrated into the infotainment interface for a clean, uncluttered look. Both variants of the VF7 are powered by a 75.3kWh battery (with a usable capacity of 70.8kWh). advertisementConnectivity is another strong point of the VF7, with wireless Android Auto and Apple CarPlay offered as standard. The vehicle also supports over-the-air (OTA) updates and can be remotely controlled via VinFast's mobile application. This app enables users to manage doors, windows, HVAC, and even access special driving modes such as Camp, Pet, Wash, and Valet. It also provides real-time updates on vehicle location, status, and system notifications, including intrusion alerts and maintenance updates. The VF7 comes with Level 2 ADAS. In terms of safety and driver assistance, the VF7 comes equipped with a comprehensive Level 2 Advanced Driver Assistance System (ADAS). This includes adaptive cruise control, lane centering assist, automatic lane changing, blind spot detection, and rear cross-traffic alert. The vehicle also features a 360-degree surround view monitoring system, automatic high beams, and seven airbags, including a driver knee airbag. With features like rain-sensing wipers, electronic parking brake with auto-hold, and roll-over to Auto Today Magazine
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Business Standard
2 days ago
- Automotive
- Business Standard
VinFast's ₹16,000-cr EV plant in TN misses out on India's incentive scheme
Vietnam-based electric vehicle manufacturer VinFast's $2 billion (₹16,000 crore) investment in Tamil Nadu failed to qualify for incentives under the 'Scheme to Promote Manufacturing of Electric Passenger Cars in India'. Officials in the government explained that the scheme mandates investments to be capitalised in the applicant's books after the date of approval. This means that equipment and machinery must be put into use only after an applicant has been formally approved under the scheme. Investments made prior to approval do not count towards eligibility, news agency PTI reported. VinFast's plans and expansion strategy VinFast, the electric vehicle division of Vietnamese conglomerate Vingroup, is in the process of setting up its $2-billion manufacturing facility in Thoothukudi, Tamil Nadu. The company is also in talks with the governments of Andhra Pradesh and Telangana to expand its footprint further within India. VinFast aims to launch its VF7 and VF6 models in the Indian market ahead of the festival season this year. The company targets an annual production capacity of 150,000 electric vehicles in India over the next few years, with plans to export these vehicles to markets in West Asia and Africa. An official speaking to PTI said, 'They [VinFast] have already capitalised the investment so they will not qualify based on that investment for benefits under the scheme. They [VinFast] will have to make a fresh investment of ₹4,150 crore to qualify under the scheme. They are urging us to consider the investment already made, which we cannot accept.' Scheme guidelines and import concessions The recently announced guidelines for the Scheme to Promote Manufacturing of Electric Passenger Cars in India specify that approved applicants will be allowed to import Completely Built Units (CBUs) of electric four-wheelers with a minimum CIF value of $35,000 at a reduced customs duty rate of 15 per cent. This concession is valid for five years from the date of application approval. To remain eligible, applicants must invest at least ₹4,150 crore in accordance with the scheme's provisions. The Scheme to Promote Manufacturing of Electric Passenger Cars was officially notified on March 15, 2024, as part of India's broader efforts to boost electric vehicle production domestically.
Time of India
2 days ago
- Automotive
- Time of India
VinFast's $2 billion Tamil Nadu investment won't qualify for India's electric vehicle sops
NEW DELHI: VinFast's ambitious $2 billion (Rs 16,000 crore) electric vehicle project in Tamil Nadu has hit a regulatory roadblock. Officials clarified Monday that the investment, already capitalized by the Vietnam-based EV maker, will not be eligible for benefits under India's newly announced Scheme to Promote Manufacturing of Electric Passenger Cars. Why? The guidelines, released this week, mandate that only investments made after approval under the scheme will count toward incentives. "They (VinFast) have already capitalised the investment so they will not qualify based on that investment," an official told PTI. "They will have to make a fresh investment of Rs 4,150 crore to qualify." VinFast, part of Vietnam's Vingroup, is setting up its India plant in Thoothukudi and is reportedly in talks with Andhra Pradesh and Telangana to expand further. The company plans to launch its VF6 and VF7 models in India by the upcoming festival season and scale up production to 1.5 lakh EVs annually, part of a broader strategy to export to the Middle East and Africa. While VinFast is now urging the Indian government to consider its prior investment, officials insist that equipment must be 'put to use' only after the date of scheme approval to be eligible. The application window for the scheme will open in the coming weeks and remain open for 120 days or more. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Tìm hiểu thêm Undo Under the scheme, approved companies will also be allowed to import fully built electric four-wheelers (CBUs) priced above $35,000 at a concessional customs duty of 15% for five years. Announced on March 15, 2024, the policy aims to woo global automakers while ensuring they commit significant fresh capital to local EV production. For VinFast, that means starting over, on paper, at least. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
South China Morning Post
2 days ago
- Business
- South China Morning Post
Vietnam's US$67 billion North-South high-speed railway: privately built with public money?
Two of Vietnam 's largest conglomerates are vying to lead the country's largest infrastructure project to date: a US$67 billion high-speed railway linking the northern capital, Hanoi, with the southern economic hub of Ho Chi Minh City. Advertisement Vingroup and Truong Hai Group Corporation (Thaco) have entered bids to build the more than 1,500km (930-mile) North–South high-speed rail line. But both are seeking substantial state support – either in the form of massive interest-free loans or government-backed financing. The proposals have raised questions about the potential for cost overruns and the risk of Vietnamese taxpayers ultimately footing the bill. Originally proposed in 2010, the high-speed rail project was rejected by the National Assembly at the time due to its prohibitive cost. But after more than a decade of rapid economic growth, the government approved the plan in November as part of an effort to modernise Vietnam's colonial-era railway system and propel the nation 'into a new era of growth', according to a statement from the transport minister. Vietnam's Communist Party General Secretary To Lam has vowed to boost the country's private sector. Photo: AFP The proposals, submitted last month, followed Communist Party chief To Lam's pledge to boost the country's private sector amid intensifying regional competition for large-scale infrastructure contracts – including from Chinese state-backed giants that dominate high-speed rail development across the Mekong region.
Time of India
2 days ago
- Automotive
- Time of India
Asian underdog & global biggies hit accelerator when Musk dodges desi market challenge
As India's EV race heats up, Vietnamese giant Vingroup is throwing its hat into the ring through its EV arm VinFast—just as Elon Musk 's Tesla , after years of sitting on the fence, gears up for its long-awaited India entry. VinFast , a small and unprofitable EV maker, briefly became the world's third most valuable automaker in 2023, behind Tesla and Toyota, after its Nasdaq debut sent shares soaring nearly 700%. Now, the company plans to open a car assembly plant in the world's third-largest car market by the end of June. Formed in 2017, VinFast began making EVs in 2021. It is backed by Vingroup, Vietnam's largest conglomerate. VinFast in January last year signed an agreement with Tamil Nadu to invest as much as $2 billion in the country. Work on the plant started soon after, with an initial investment of $500 million. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Linda Kozlowski, 67, Shows Off Her Perfect Figure In A New Photo Investructor Undo ALSO READ: Tesla not interested in manufacturing in India, minister says The introduction of its VF7 and VF6 models, expected before the upcoming festival season, will mark the official desi debut of the company. Live Events The loss-making startup had initially planned to focus on America for its foreign sales, but slow progress in the United States, even before growing uncertainty caused by U.S. tariffs, pushed the company to change strategy. VinFast's entry in itself may not be a significant challenge for Tesla in India, but it points at a crowded EV space, which might make it hard for Tesla to cruise into the Indian market, which is now 'not interested' in making in India. ALSO READ: Is Tesla-killer BYD chasing Elon Musk to India? The statement comes after Europe's Mercedes Benz, and Skoda-Volkswagen (VW), South Korean Hyundai, and Kia, have shown interest in manufacturing EVs in India. Musk is late to the India party Heavy Industries Minister Kumara Swamy today said that Elon Musk's Tesla is not interested in manufacturing in India. Former US President Donald Trump had earlier stated that it would be 'very unfair' if Musk were to set up a factory in India. Moreover, Musk's company may have lost much of its sheen, novelty and competitive edge. VinFast is not the only challenge Tesla will face in India. VinFast has joined a host of local and Asian EV makers in India which have crowded the EV space. Tesla's reluctance to enter India — it had registered a local unit more than four years ago — has given competitors a head start in the country's nascent but rapidly expanding EV market. If all the carmakers are going to converge in India and participate, Tesla should have 'a little bit of FOMO in coming days,' Amit Bhatt, India managing director at the International Council for Clean Transportation told Bloomberg in January. Competition in the Indian market VinFast is set to enter the Indian market at a time when both local and global players are already establishing their presence, yet significant opportunities remain in this rapidly growing sector. The central government aims to boost electric vehicle (EV) sales from just 2.5% of the total 4.3 million car sales in 2024 to 30% by 2030, highlighting the market's vast potential. Capitalizing on this opportunity, major players like Suzuki Motor Corporation's India unit, MG Motors, Hyundai, and BYD are aggressively expanding their footprint in India's nascent EV market. VinFast Asia CEO Pham Sanh Chau has stated that the company does not see Tesla—or even BYD—as direct competitors. However, the Indian market poses its own unique challenges. BYD, a global rival to Tesla, currently sells imported EVs in India and is reportedly considering setting up a local manufacturing facility, with media reports indicating a potential plant in Telangana. Meanwhile, Tesla's prolonged hesitation in entering India may have cost it a crucial first-mover advantage in one of the world's fastest-growing auto markets. Domestic powerhouse Maruti Suzuki is also gearing up to enter the EV segment. As India's largest carmaker by volume, Maruti Suzuki has a proven ability to capture substantial market share—even as a late entrant—demonstrated by its past successes with diesel vehicles and compact SUVs. For VinFast, the challenge extends beyond international competitors like Tesla and BYD. It must also navigate a complex domestic landscape shaped by established Indian incumbents, pricing sensitivities, and evolving consumer preferences.
