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VinFast, a Vietnamese electric vehicle manufacturer, has asked India to reduce import charges on its vehicles for around two years so that customers can become acquainted with them while a local manufacturing unit is built, according to an executive. VinFast has begun construction on a factory in the southern state of Tamil Nadu, to start production by the middle of the next year, initially for domestic sales before expanding internationally.
Tamil Nadu and VinFast said last month that they had agreed to pursue a $2 billion investment, with a $500 million commitment planned for the project's first five years. Like Tesla, VinFast has also asked for a reduction to India’s 100% import duty on fully-built EVs, which domestic automakers have opposed. India, the world’s third-largest vehicle market, has been considering the requests but has not decided, a government official said last month.
“We … proposed a reduction of import duty tax … for instance by bringing it to 70% to 80% just for two years and for a minimal number of cars for the customers to get used to our products,” Pham Sanh Chau said at the sidelines of VinFast’s groundbreaking ceremony in Thoothukudi district.
“The central government is still considering it. But while waiting for the final decision of the central government, we move ahead with our construction of the manufacturing facility.”
Electric models accounted for just about 2% of India’s car sales last year, but the federal government is targeting 30% by 2030 and is working on a programme to attract EV makers. The Tamil Nadu project would have a capacity of up to 150,000 vehicles annually, compared with 250,000 at its main plant in Vietnam, according to VinFast.
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