VinFast in talks with Adani Group, Megha Engineering for electric car venture

Vietnamese electric vehicle (EV) manufacturer, VinFast, is in talks with Indian companies Megha Engineering & Infrastructures (MEIL) and Adani Group to explore a potential partnership for its electric car venture in India, according to a report of the Times of India. The company is considering its options before committing to the Indian government's new EV policy.

VinFast is currently setting up a manufacturing plant in Tamil Nadu and aims to launch its electric cars in 2025. According to the report, the company is seeking a local partner to navigate India's regulatory landscape, manage labor relations, and establish a reliable supply chain for components.

While discussions are underway, no concrete decisions have been made. A VinFast spokesperson in India stated, "As a global company, we explore options for collaborations in various fields and countries. However, we don't comment on market speculations."


MEIL, known for its Olectra brand of electric buses, confirmed that discussions have taken place but emphasized their early stage. "They (VinFast) has approached us and initiated discussions. We are still evaluating the proposal and have not confirmed anything yet," a source within the group revealed.

Adani Group, while approached by VinFast, did not respond to requests for comment.

Initially enthusiastic about the Indian government's new EV policy, which offers import tax benefits for companies investing $500 million in local manufacturing, VinFast now appears hesitant. The company's concerns stem from potential stipulations in the policy that might not recognize certain investments.

VinFast plans to showcase its vehicles at the Bharat Mobility Expo early next year.