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New Delhi. Vietnam’s electric car manufacturer VinFast is planning to manufacture and sell electric cars in India. The company has also set up a plant in Tamil Nadu. Earlier the company was going to sell only imported EVs in India but now this plan has been changed. VinFast is seen as a big competitor of Elon Musk’s Tesla. It is worth noting that Tesla is also trying to enter the Indian market. However, Tesla is reportedly not able to agree on the conditions that the government is placing before it in view of the interests of the Indian economy.
Vinfast is setting up a plant in Tamil Nadu. Production is expected to start here from March 2025. Earlier it was scheduled to start from June-July in 2025. According to an ET report, the first car assembled in India by Vinfast may go on sale in the festive season of 2025. Its price is expected to be Rs 25-30 lakh. The company will target the premium affordable section of India at this price. It is being said that this car can cover a distance of 300-500 km in a single charge.
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What will be the mileage
When the company assembles cars in India, it can eliminate heavy import duty. If a car worth $40,000 or more is imported into India, 100 percent import duty is imposed on it. On the other hand, 70 percent import duty is imposed on cars below $40,000. Vinfast will avoid this duty and will be able to provide its cars in India at competitive prices.
What the company expects
Vinfast believes that it will manufacture 50,000 cars in India in the first year itself. According to the company, the electric car market in India will grow to 1,50,000 units this year from 90,000 units last year. The company may lay out the roadmap of its future plans in India at the India Mobility Global Expo next year.
Tag: auto news, Car Bike News
first published : July 3, 2024, 4:07 PM IST
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