Vietnamese EV Maker VinFast to Expand to India

06 Oct 2023 CW Team

These CKD facilities in Indonesia and India are designed with a combined planned capacity of up to 50,000 cars per year and an estimated initial capital expenditure ranging from $150 million to $200 million. VinFast anticipates commencing production by 2026.

VinFast aims to tap into the significant potential for increased EV adoption in India and Indonesia, where EV penetration currently stands at just 1%. These CKD facilities in these markets offer access to government incentives for local manufacturing, relief from certain tariffs and taxes, as well as favorable rates for raw materials.

Additionally, VinFast has streamlined its capital expenditure plan for global manufacturing in 2024 and 2025, expecting to realize savings of approximately $400 million compared to earlier projections. These cost savings will be allocated towards the establishment of CKD factories in Indonesia and India.

While VinFast is actively hiring in India for various positions, it has not disclosed the specific location of its planned facility in the country. If it proceeds with its India expansion, VinFast will compete with local automakers such as Tata Motors and Mahindra & Mahindra, both of which already offer EVs in the Indian market.

The Indian government has set an ambitious goal of achieving a 30% share of EVs for private cars by 2030.

VinFast, backed by Vietnam's largest conglomerate Vingroup, reported a 159% year-on-year increase in third-quarter revenue, reaching 8.25 trillion Vietnamese dong ($338 million). However, its net loss widened from 11.2 trillion Vietnamese dong to 15 trillion Vietnamese dong. The company delivered 10,027 EVs in the July-September quarter, a substantial increase compared to the 153 units delivered in the same period the previous year.

Vietnam's VinFast is planning to establish car assembly plants in India, aiming to capitalize on the growing demand for electric vehicles (EVs) in the world's third-largest automobile market. VinFast announced its intention to set up completely knocked down (CKD) facilities in both India and Indonesia as part of its strategy to expand its global presence. These CKD facilities in Indonesia and India are designed with a combined planned capacity of up to 50,000 cars per year and an estimated initial capital expenditure ranging from $150 million to $200 million. VinFast anticipates commencing production by 2026. VinFast aims to tap into the significant potential for increased EV adoption in India and Indonesia, where EV penetration currently stands at just 1%. These CKD facilities in these markets offer access to government incentives for local manufacturing, relief from certain tariffs and taxes, as well as favorable rates for raw materials. Additionally, VinFast has streamlined its capital expenditure plan for global manufacturing in 2024 and 2025, expecting to realize savings of approximately $400 million compared to earlier projections. These cost savings will be allocated towards the establishment of CKD factories in Indonesia and India. While VinFast is actively hiring in India for various positions, it has not disclosed the specific location of its planned facility in the country. If it proceeds with its India expansion, VinFast will compete with local automakers such as Tata Motors and Mahindra & Mahindra, both of which already offer EVs in the Indian market. The Indian government has set an ambitious goal of achieving a 30% share of EVs for private cars by 2030. VinFast, backed by Vietnam's largest conglomerate Vingroup, reported a 159% year-on-year increase in third-quarter revenue, reaching 8.25 trillion Vietnamese dong ($338 million). However, its net loss widened from 11.2 trillion Vietnamese dong to 15 trillion Vietnamese dong. The company delivered 10,027 EVs in the July-September quarter, a substantial increase compared to the 153 units delivered in the same period the previous year.

Infrastructure Transport

17 Oct 2025

Sonowal Unveils Eight Projects at NMPA’s Golden Jubilee

Union Minister for Ports, Shipping and Waterways, Shri Sarbananda Sonowal, inaugurated the Curtain Raiser Ceremony of the Golden Jubilee Celebrations of the New Mangalore Port Authority (NMPA) at Bharat Mandapam. To commemorate the milestone, he unveiled eight major maritime infrastructure projects designed to strengthen India’s port network, enhance logistics performance, and promote sustainability. These include a modern cruise terminal, new covered storage facilities, a 150-bed multi-speciality hospital, expanded truck terminals, and improved port access infrastructure aimed at enhancing..

Infrastructure Energy

17 Oct 2025

India To Boost US LPG Imports, Cut Middle East Reliance

India is planning to reduce imports of liquefied petroleum gas (LPG) from the Middle East as state-owned refiners prepare to ramp up purchases from the United States, according to sources familiar with the matter. The move aligns with New Delhi’s efforts to expand energy cooperation and secure a broader trade deal with Washington. State refiners have already notified their traditional LPG suppliers in Saudi Arabia, the United Arab Emirates, Kuwait and Qatar of the potential reduction in imports. Although the exact size of the supply cut was not disclosed, earlier reports suggested that Indi..

Infrastructure Energy

17 Oct 2025

UK Sanctions Nayara Energy in Crackdown on Russian Oil

The United Kingdom has announced fresh sanctions on 90 entities, including Indian refiner Nayara Energy Limited, in its latest bid to curb Russian oil revenues and weaken President Vladimir Putin’s war funding. The sanctions, unveiled jointly by the Foreign, Commonwealth and Development Office (FCDO) and the UK Treasury, aim to disrupt networks supporting Moscow’s crude exports amid the ongoing war in Ukraine. According to the FCDO, the new restrictions are intended to “strike at the heart of Putin’s war funding” by targeting firms and assets that enable Russia’s energy trade. “..