The LoIs will pave the way for establishing e-motorcycle showrooms across 34 cities in 15 states and UTs, including Delhi NCR, Uttar Pradesh, Maharashtra, Karnataka, among others
With this, VinFast is entering the Indian E2W space, which is being driven by government incentives, new launches, rising fuel prices and EV mandates
As part of its local push, the company also plans to build charging infrastructure and strengthen after-sales services in the new cities
With an eye on entering the homegrown electric two-wheeler (E2W) market, Vietnamese EV maker VinFast has signed letters of intent (LoIs) with more than 50 dealers across India.
The EV maker said that the agreements will pave the way for establishing 50+ e-motorcycle showrooms across 34 cities in 15 states and union territories (UTs). These showrooms will be set up across Delhi NCR, Rajasthan, Uttar Pradesh, Maharashtra, Karnataka, Tamil Nadu, West Bengal, among others.
In a statement, the EV giant said that the agreements will expand its distribution network and strengthen its position in the Indian E2W market. The LoIs were signed at VinFast’s manufacturing facility in Vietnam’s Hai Phong.
Citing its rationale for signing the agreements, VinFast said that the aforementioned cities have large two-wheeler markets, which offers a significant headroom for electrification. The company said that it plans to leverage these dealer locations to bring electric mobility solutions “closer to local consumers”.
As part of its local push, the company also plans to build charging infrastructure and strengthen after-sales services in the new cities.
“Partnering with more than 50 dealer partners across 15 states and territories and 34 cities marks the beginning of our journey to bring VinFast e-motorcycles across India. Alongside, we are also building charging infrastructure and strengthening after-sales services to ensure that customers across these locations receive the support they need throughout their ownership journey,” said Anurag Saxena, the India CEO of VinFast’s e-scooter division.
With this, VinFast is entering the burgeoning Indian E2W space, which is being driven by government incentives, new launches by domestic manufacturers, rising fuel prices, EV mandates, a growing charging infrastructure and rapid adoption by gig platforms.
The E2W segment is currently dominated by legacy players such as TVS Motor, Bajaj Auto and Hero MotoCorp. But the space has also spawned the rise of listed homegrown new-age mobility players such as Ather and Ola Electric.
However, unlike incumbents that focus on e-scooters, VinFast claims to be eyeing the Indian e-motorcycle market. Even here, the company will lock horns with homegrown players such as Oben Electric, MATTER and Ultraviolette.
This comes nearly a year after VinFast first said that it would enter the Indian E2W market in 2026. At the time, the company had said that it would invest $2 Bn in India to scale its annual production capacity from 50,000 units to 1.5 Lakh.
However, much has happened since then. Earlier this year, reports surfaced that the company was halting the production of select cars in India to reassess costs. Last month, it was also reported that the Vietnamese EV maker was in initial discussions with local suppliers to develop two new models for the Indian market.
That said, EVs continue to increase their share of India’s two-wheeler market. E2W registrations surged 12.2% month-on-month (MoM) to 2.07 Lakh units in September from 1.84 Lakh units in August.
Source: Inc42
