VinFast’s Strategic Move: Prioritizing India
In a recent interview with international media, Ms. Lê Thị Thu Thủy, Chairwoman of VinFast and Vice Chairwoman of Vingroup, emphasized that the company’s competitive edge extends beyond its products to its entire ecosystem.
She stated, “Our competitive advantage is unique; we bring an entire ecosystem—electric motorcycles, electric buses, factories, and more.”
Ms. Lê Thị Thu Thủy, Chairwoman of VinFast and Vice Chairwoman of Vingroup.
This means the launch of VinFast VF 6 and VF 7 in India is just the beginning. VinFast plans to introduce electric motorcycles to India, potentially making it the first international market for this segment.
This aligns with Vingroup’s vision to bring its entire ecosystem to India, spanning healthcare, education, retail, and smart cities. India, with its 1.4 billion population and high reliance on two-wheelers, offers VinFast a massive market and a platform to compete globally against giants like Hero MotoCorp, Bajaj Auto, TVS, and Honda.
India: A Challenging Market
India is the world’s largest motorcycle market, with annual sales of 15–16 million units, accounting for over 25% of global sales. Motorcycles are essential for personal use, business, and delivery services.
Domestic brands like Hero, Bajaj, and TVS dominate with vast production and distribution networks.
The TVS iQube is one of India’s best-selling electric scooters, starting at approximately ₹29,000.
However, consumer trends are shifting rapidly. Younger Indians are increasingly drawn to electric motorcycles due to cost savings and government incentives. The FAME II program (2019) offers subsidies of ₹10,000–15,000 per kWh, covering 15–40% of the vehicle’s cost. Subsequent schemes like EMPS 2024 and PM E-DRIVE (2024–2026) further support electric mobility.
Despite this, India remains a price-sensitive market. Popular electric models include:
The Ola Electric S1-X starts at approximately ₹69,999.
– Ola Electric S1-X, priced at ₹69,999, competes directly with affordable petrol scooters.
– Odysse HyFy, a low-speed electric scooter, costs ₹42,000 with a 70 km range.
– Hero Vida VX2 offers a battery rental option starting at ₹44,990, appealing to middle-class consumers.
VinFast must balance competitive pricing with durability and infrastructure compatibility, a challenge in India’s diverse market.
VinFast’s Prospects
Despite challenges, VinFast has significant advantages. As Vietnam’s leading electric motorcycle brand, it offers a diverse product range, including battery-included, removable, and swappable models, catering to India’s varied needs.
Its assembly plant in Tamil Nadu leverages the “Make in India” initiative, reducing costs and enhancing competitiveness. VinFast’s success in India could pave the way for expansion into Southeast Asia, particularly Indonesia, the region’s largest motorcycle market with 3.17 million units sold in H1 2025. Indonesia’s $455 million subsidy program and Yadea’s investment highlight its potential.
VinFast is developing various electric motorcycle models, including battery-included, removable, and swappable options.
With its strategic focus and robust ecosystem, VinFast is well-positioned to establish itself in India and beyond.
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