VinFast to Build Two India-Specific EVs, One Could Cost Under Rs 10 Lakh

VinFast is working on two new electric vehicles designed specifically for India. One of them could be priced under Rs 10 lakh, according to a report by Gaadiwaadi.com. The Vietnamese carmaker, which is building a factory in Tamil Nadu, wants a bigger slice of India's growing EV market.

The affordable model would compete with the Tata Tiago EV and MG Comet. Both are already on sale and start around Rs 8 lakh. VinFast's entry could shake up that end of the market, where price matters more than range or fancy features.

The second EV will likely sit higher up, though details are scarce. The report didn't say when either car would launch or what they would look like. VinFast hasn't confirmed the names or specifications.

Why India-Specific Models Matter

India's EV market is small but growing fast. Electric cars made up about 2% of total passenger vehicle sales last year. Most of those were in the premium segment. The sub-Rs 10 lakh hatchback segment is where mass adoption could happen, but few options exist.

VinFast's plan to localise production in Tamil Nadu should help keep costs down. The company broke ground on its factory earlier this year. Local manufacturing avoids hefty import duties, which can double the price of a fully imported EV.

Other global automakers have struggled to crack the affordable EV code in India. Tesla stayed away for years because of import taxes. MG and BYD sell electric cars here, but neither has a model under Rs 10 lakh. Tata Motors dominates the affordable EV space with the Tiago EV and Tigor EV.

What We Know So Far

• VinFast is developing two India-specific EVs.
• One could be priced under Rs 10 lakh.
• The company is building a plant in Tamil Nadu.
• No launch timeline or specifications have been announced.

VinFast has been aggressive about expansion. It entered the US and European markets with the VF 8 and VF 9 SUVs. But sales have been slow, and the company has faced quality complaints. India is a different challenge. Buyers here are price-sensitive and care about after-sales service.

The company hasn't said whether the two new EVs will be hatchbacks, sedans, or small SUVs. It also hasn't revealed battery range or charging times. Those details will decide whether VinFast can actually sell cars in a market where Tata and Mahindra already have a head start.

For now, the sub-Rs 10 lakh EV segment has just a handful of players. Tata's Tiago EV starts at Rs 7.99 lakh. MG's Comet is priced from Rs 6.99 lakh. Both are small cars with modest range. A new entrant with better specs at a similar price could find takers.

VinFast's India plans are still in the early stages. The company will need to set up a dealer network, service centres, and charging partnerships. That takes time and money. The two India-specific EVs are part of a longer game.

Gaadiwaadi.com reported the story on September 12, 2026. VinFast has not issued an official statement on the pricing or launch date of the two models.