VinFast Overtakes Tesla in India’s EV Market
Over the past few years, the electric vehicle (EV) market has witnessed rapid growth. In the Indian EV market, VinFast has surpassed Tesla. Vietnam-based VinFast has customized its electric vehicles to align with the country’s specific requirements. Consequently, VinFast’s sales have surged rapidly.
According to a media report, Tesla has sold 383 electric vehicles in India since September of last year. During this same period, VinFast’s sales stood at approximately 3,568 units. This company, which has expanded rapidly over the last few years, has not only prioritized localization but has also maintained competitive pricing. VinFast has established a manufacturing facility in Tamil Nadu. By manufacturing domestically, the company avoids having to pay hefty import duties. The starting price for the company’s VF6 electric SUV is approximately ₹17.29 lakh, while the VF7 is priced at around ₹21.89 lakh.
Last month, VinFast launched the VF MPV 7 in India. The starting price for this electric MPV is ₹24.49 lakh (ex-showroom). In India, sales for billionaire Elon Musk’s Tesla have fallen significantly short of expectations. The company imports its EVs from its factory in China; as a result, Tesla is subject to higher import duties, which drives up the prices of its electric vehicles. The starting price for Tesla’s Model Y is approximately ₹60 lakh. The Long-Range Rear-Wheel Drive variant of this electric SUV is priced at ₹67.89 lakh.
Recently, Tesla launched the Model Y L in India. This electric crossover is priced at ₹61.99 lakh (ex-showroom). This particular model features an extended wheelbase. The company had previously unveiled the Model Y L in China last year; it serves as the long-wheelbase, three-row variant of the company’s standard Model Y. This electric SUV features six seats. It is an ideal choice for customers who require ample cabin space. The Tesla Model Y L is being manufactured at the company’s Gigafactory in Shanghai, China. The company claims that this electric crossover has a WLTP range of approximately 681 kilometers. It can accelerate from 0 to 100 km/h in roughly five seconds.
