Pham Sanh Chau, the CEO of Vinfast Asia, has set a target that many in the auto industry might call audacious, even unachievable – he wants to position the Vietnamese EV maker among India’s top-three carmakers within a decade.
“We launched our first models in India in September 2025 – the VF 6 and VF 7 – and in December we became the country’s fourth-largest EV maker,” he told FE. “We aim to maintain this position in 2026, and rise year over year to be among India’s top-three carmakers within a decade.”
“Not just in the EV market, but in the overall car market,” Chau emphasised.
His confidence rests on a bold prediction about the Indian market. “I think that, within a decade, 70% of car sales in India will be electric, giving Vinfast a vast playing field, which right now is just about 4%,” Chau said. This projection underpins the company’s aggressive strategy, which began with the inauguration of a 400-acre manufacturing plant in Thoothukudi, Tamil Nadu, in August 2025.
“The success of our initial models has given us the confidence to launch an EV in India every six months,” he said. “Our next launch is the Limo Green, a luxury EV, followed by much more affordable EVs than the VF 6 and VF 7.”
The VF 6, priced Rs 16.49-18.29 lakh, has a range of 468 km. Its larger sibling, the VF 7, claims a range of up to 532 km with prices starting at Rs 20.89 lakh. Both these models helped Vinfast beat Tesla in India, which launched in July – Tesla sold 226 EVs in 2025, far lesser than Vinfast’s 1,026 EVs, and auto analysts told FE that Tesla, despite its global hype, could manage far lesser units than lesser-known Vinfast because India is a value-driven market. “Brand name alone is insufficient if the infrastructure, localised pricing, and after-sales support aren’t aligned with the Indian consumer’s expectations,” they said.
Vinfast’s roadmap extends beyond cars
“We are bringing in the entire ecosystem – cars, electric scooters, electric buses, and even charging infrastructure,” Chau said. “In December, we signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to acquire an additional 200 hectares for producing buses and scooters. We also have strategic partnerships, including agreements with Castrol India for after-sales service and with BatX Energies for battery recycling.”
Beyond 4-Wheelers
Chau, the former ambassador of Vietnam to India (2018-22), said he may lack the financial or marketing background of a traditional CEO, but his diplomatic experience is a unique asset, which can take Vinfast to the podium finish.
Analysts, however, reacted to this target with a pinch of salt. “For 20 years, Hyundai tried to upstage Maruti Suzuki, but finally admitted in mid-2010s that it cannot be at the very top. Mahindra and Tata Motors are trying, and were among the top-3 in 2025, but do you think they will cede space to Vinfast, or any other carmaker? Then there is the rising Toyota, a resurgent Kia, Honda, Nissan, Renault, and the Volkswagen Group. Even the Chinese are making inroads,” they said. “A decade is a long time, and a lot can change, but what won’t change is the difficulty level in getting to the top-three in India.”
