Vietnam's VinFast surprises with No. 4 ranking in India's EV market, registering more than Hyundai and Kia combined

[NEW DELHI, India — Pragya Awasthi, correspondent] Vietnamese automaker VinFast ranked fourth in India's electric vehicle (EV) market last October by brand, based on the number of vehicle registrations. It surpassed major automakers such as Hyundai Motor Company, Kia and Maruti Suzuki, and is emerging as a new competitor in India's EV market.
According to figures compiled on the 5th by automotive market research firm Autopunditz, based on vehicle registration data from the Indian government, VinFast registered 2,571 EVs in India last October. That accounted for 7.1% of the 36,064 EVs registered across India.
During the same period, Tata Motors ranked first with 14,669 units, followed by Mahindra with 8,542 and MG with 5,940. VinFast placed fourth, behind those three companies.
By contrast, Kia registered just 1,395 units, Maruti Suzuki 1,200, Hyundai 760 and BYD 737.
In particular, VinFast's October registrations were more than triple Hyundai's, and the total was only 24 units short of the 2,595 registered by Kia and Maruti Suzuki combined.
VinFast's growth is also reflected in its sales performance over the past few months. The company reported dealer dispatches of 1,853 units in September, a sharp increase from 376 in the same month a year earlier. By model, the Limo Green accounted for 850 units, or 45.9% of the total, followed by the VF 7 with 625 and the VF 6 with 323. However, dealer dispatches and actual vehicle registrations are measured using different criteria, which should also be taken into account.
VinFast's growth strategy is not limited to EV sales. It is focused on building an electric mobility ecosystem encompassing everything from manufacturing facilities and sales networks to charging infrastructure and after-sales service. The company opened a manufacturing plant in 2025 in Thoothukudi, Tamil Nadu, India. The plant has an annual production capacity of 50,000 units and is reportedly capable of expanding that to 150,000 in the future.
VinFast's strength lies in its ability to reduce the tariff burden on imported finished vehicles through local production and supply products to the Indian market at more competitive prices. It is also expanding its sales and service network. Tapan Ghosh, CEO of VinFast Asia, said the company had achieved by September 2026 its year-end target of securing 75 dealerships. This is part of a strategy to expand customer touchpoints across India and improve access to services after vehicle sales. 
[email protected] Pragya Awasthi, correspondent Reporter