Vietnamese electric vehicle maker VinFast will enter the Indian market with two premium electric SUVs, taking on homegrown rival Mahindra & Mahindra and China's BYD, which already has a presence in the world's third-largest car market.

VinFast is currently evaluating whether to import the vehicles as completely built units (CBUs) or manufacture them locally during the initial phase. The company had committed $50

VinFast has taken covers off its VF6 and VF7 electric SUVs in India, marking the company's entry into the Indian market.

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Vietnamese EV maker VinFast announces plans to launch its VF 7 and VF 6 SUVs in India later this year, aiming for the premium market segment. The company is also investing USD 500 million in a manufacturing facility in Tamil Nadu.

The company, which is investing USD 500 million to set up its manufacturing plant at Tuticorin in Tamil Nadu, expects completion of the facility in the second half of 2025 after which it will launch the products.

These two models are expected to meet the electrification needs of consumers and set a new benchmark in the green transportation industry in India

VinFast (NASDAQ: VFS), a subsidiary of Vingroup JSC, one of Vietnam's largest conglomerates, is a pure-play electric vehicle ("EV") manufacturer with the mission of making EVs accessible to everyone.

Electric vehicle maker VinFast Auto Ltd. said it plans to begin selling two made-in-India cars in the South Asian country later this year, marking the Vietnamese carmaker’s debut in the world’s third-biggest car market.

Vietnam's electric vehicle maker VinFast Auto on Saturday said its two electric SUVs -- VF 7 and VF 6 -- will hit the Indian market later this year to mark its foray into the country, which it says has a huge growth potential.