VinFast Expands India Footprint: $500M for 2-Wheeler, Bus, Ride-Hailing Entry

• Vietnamese EV maker VinFast plans to invest an additional $500 million to enter India's electric two-wheeler, bus, and ride-hailing segments by H2 2026.
• The company's parent, Vin Group, through its Green and Smart Mobility (GSM) unit, will launch an EV ride-hailing service using VinFast cars and scooters.
• VinFast will introduce three new EV models this year, including a 7-seater MPV for taxi/fleet and a compact SUV to compete with models like Tata Nexon EV.
• The company aims to increase localization from 10% to reduce supply chain uncertainties and expand its retail network from 35 to 70 dealerships by 2026.
• VinFast's Tamil Nadu CKD plant has an annual capacity of 50,000 vehicles, expandable to 150,000 units, assembling kits imported from Vietnam.

Why It Matters: VinFast is making a significant $500 million investment to expand its EV presence in India beyond cars.