Like Tesla, VinFast has also requested for a reduction to India's 100% import duty on fully built EVs.
25 Feb 2024 | 4817 Views | By Autocar Professional Bureau
VinFast has requested India to cut its import duties on cars for around two years, so customers can familiarise themselves with products while the local manufacturing plant begins, a company executive informed Reuters.
The Vietnam-based EV maker has begunbuilding the factory in Tamil Nadu and aims to begin ...
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VinFast has requested India to cut its import duties on cars for around two years, so customers can familiarise themselves with products while the local manufacturing plant begins, a company executive informed Reuters.
The Vietnam-based EV maker has begun building the factory in Tamil Nadu and aims to begin production by mid-next year, first for domestic sales and later on exports, India CEO Pham Sanh Chau informed the newswire.
The company and the Tamil Nadu government will work toward an investment of up to $2 billion, with a commitment of $500 million for the first five years, the newswire stated.
Like Tesla, VinFast has also requested for a reduction to India's 100% import duty on fully built EVs, a move that has not been held in favour by domestic automakers, Reuters noted. India has been considering the requests, but a decision has not been taken, a government official noted last month.
Chau said on the sidelines of the event that they requested for a reduction in import duties to 70-80%, for two years, and for a very limited number of cars, for customers to get used to the products, the newswire further reported.
He added that they will move ahead with the construction of the manufacturing facility while waiting for the final decision of the central government.
Chau, a former Vietnamese ambassador to India said the company is closely collaborating with around 55 dealers to establish a sales network and could also look to sell its two wheeler models later in the country, Reuters reported.