While American EV giant Tesla continues to delay its India entry, two other ambitious electric carmakers—Vinfast from Vietnam and Leapmotor from China—have confirmed their plans to launch in India during the festive season this year. The timing coincides with the Indian government’s new EV policy, which offers lower import duties for manufacturers investing locally.
Vinfast: Made in Vietnam, Assembling in Tamil Nadu
Founded in 2017, Vinfast is Vietnam’s largest carmaker and has rapidly expanded across global markets including the US and China. In early 2024, Vinfast began building a factory in Tamil Nadu, backed by an initial investment of $500 million. The plant will eventually scale to a $2 billion investment, targeting an annual production capacity of 1.5 lakh vehicles.
At the Bharat Mobility Global Expo, Vinfast showcased its full lineup, including the VF6 and VF7—mid-range electric SUVs set to be launched first in India. The VF6, a compact SUV with a 59.6 kWh battery and 380 km WLTP range, will compete with rivals like Mahindra XUV400 and Tata Harrier EV. The larger VF7 offers a 70.8 kWh battery, over 400 km range, and both FWD and AWD options, priced around ₹25 lakh.
Leapmotor: China’s EV Ambition Arrives Through Stellantis
Chinese EV startup Leapmotor, also founded in 2017, will enter India via Stellantis, which owns brands like Jeep and Citroen. The two companies formed Leapmotor International, giving Stellantis the right to sell Leapmotor EVs outside China.
India will first see the T03, a compact city EV with a 265 km range, and the C10, a mid-size SUV with longer range and advanced features. Leapmotor’s B10, a new compact SUV with ADAS features, may follow later.
Strategic Timing and Market Play
Both Vinfast and Leapmotor are leveraging the festive season to make their India debut and take advantage of the recent EV policy. Their early investments and model range suggest serious intent to challenge existing Indian and global EV players. With Tesla still undecided, these two Asian automakers might just steal the spotlight in India’s evolving electric mobility space.
