Ev Maker Vinfast to geting ready to get started manufacturing unit in Bharat, Elon Musk, Tesla

The Vinfast’s factory in India, including the large electric vehicle (EV) companies, may begin on 30 June. This Vietnam company is trying to increase its sales in Asian countries rather than expansion in North America and Europe. Vinfast plans to set up a factory in Indonesia in October.

The company’s founder, Pham Nhat Vuong said at a shareholders meeting that the Vinfast factory in India could start on June 30. Vinfast has postponed the start of its factory in North Carolina, USA for three years. Its plan has been delivered more than two lakh vehicles in Vietnam this year. Vuong has invested about one billion dollars in the company in the last two years.

The Vinfast factory is being made in Tamil Nadu. EVs to be built in this factory will also be exported along with sale in the country. Like Tesla, Vinfast also demanded to reduce import duty on EV. Large automobile companies like Tata Motors are opposing to reduce import duty on EV to be imported. The world’s third largest vehicle market is being considered by the Central Government in India to reduce import duty on EVs, but no decision has been taken in this regard. Electric cars hold about two percent in the total sales of cars in the country. The government has targeted to increase it from 2030 to 30 percent. The annual capacity of this factory of Vinfast will be about 1.5 lakh units.

Recently the company introduced the VF7 SUV in India. Earlier, testing of some models of the company was seen. This is the second fully EV company to enter the country’s market after China’s byd. Tesla of Billionaire Elon Musk may also start business in the country soon. The first showroom of this American company can be opened in Mumbai. Initially Tesla can import vehicles from its factory in Germany. Musk has also demanded tax on the import of vehicles.