Vingroup eyes new business ventures in India, in talks with three state govts to set up 2,000-acre township

Chau said that investing capital is not an issue with the group as it is the largest conglomerate in Vietnam like “Tata, Reliance and Infosys” combined. The group operates around 47 luxury resorts and now wants to get into the segment in the country as well.

Vingroup is a major Vietnamese conglomerate operating in Technology & Industry (VinFast, VinTech), Real Estate (Vinhomes, VinPearl), and Services (VinMec healthcare, VinSchool, VinUniversity). Founded by Pham Nhat Vuong, the company has expanded from real estate into technology, automotive (VinFast), retail, hospitality, and other segments.

In the automotive market, VinFast is working on e-buses and electric two-wheelers as well. “We are working on e-buses, two-wheelers… we are working with different states to get the orders and we are in the process of converting them from left-hand drive to right-hand drive,” he added.

The company on Saturday introduced the VF 6 and VF 7 at an introductory price of Rs 16.49 lakh and Rs 20.89 lakh, respectively.

VinFast has high hopes from the Indian market as it is in the process of spending $500 million in its Tamil Nadu plant. This investment is part of a larger $2 billion India commitment. The Tamil Nadu facility has an initial production capacity of 50,000 EVs annually which will be increased to 150,000 units in the second phase and 300,000 over the long term.