Archive · 26 Jan 2026
VinFast Eyes Indian EV Scheme Participation
VinFast, a company that makes electric cars, wants to join a special program in India called SPMEPCI.
This program helps companies set up factories to make electric cars in India.
VinFast needs to invest $500 million and make sure that at least 25% of their car parts are made in India within three years.
They also need to reach 50% local parts within five years.
VinFast is talking to other Indian companies to help them make more parts locally.
The Indian government started this program to attract big car companies from around the world, but so far, no one has joined.
The program is open for applications until March 2026.
VinFast seeks to participate in India's SPMEPCI scheme for EV manufacturing.
The company plans to invest $500 million in Tamil Nadu and aims for 25% localisation within three years.
VinFast is collaborating with Indian companies like Uno Minda and Spark Minda to increase local production.
The SPMEPCI scheme requires a minimum investment of ₹4,150 crore ($500 million) and 25% domestic value addition within three years.
The scheme allows approved applicants to import 8,000 completely built units per year at a reduced customs duty of 15%.
- Who
- VinFast, a Vietnam-based electric vehicle maker
- What
- VinFast seeks to participate in India's SPMEPCI scheme
- When
- Application window open until March 15, 2026
- Where
- Tamil Nadu, India
- Why
- To establish manufacturing facilities and benefit from subsidies
- Company
- VinFast
- Scheme
- SPMEPCI
- Investment
- $500 million
- Location
- Tamil Nadu
- Localisation Target
- 25% in 3 years, 50% in 5 years
- CBU Import Limit
- 8,000 units/year at 15% duty
- Application Window
- June 2025 - March 2026