VinFast pivots in India toward VF X and VF Y
VinFast, a Vietnamese electric vehicle maker, is switching gears for India by planning two India-specific vehicles, internally codenamed VF X and VF Y.
The company suspended plans to manufacture three of its current global models, the VF 3, VF 6 and VF 7, in India after realizing they couldn't hit the right price point for Indian buyers.
VinFast's VF X targeted under $12,000
The VF X is being developed as an entry-level electric car under $12,000, aiming straight at budget-friendly options. Right now, Tata Motors leads this space.
VinFast's current models in India cost far more ($19,000 to $24,250), so this move could shake things up.
To keep prices low and appeal to Indian tastes, VinFast is teaming up with local suppliers and ramping up plant capacity, hoping to make up to 150,000 cars a year.
The company is also eyeing markets in South Asia, the Middle East, and Africa with this new strategy.