VinFast Signs LoIs With Over 50 Dealers to Launch Electric Two-Wheelers Across 34 Indian Cities

Vietnamese electric vehicle manufacturer VinFast has taken a major step toward launching its electric two-wheeler portfolio in India by signing Letters of Intent (LoIs) with more than 50 prospective dealership partners. The agreements, signed during an Indian delegation's visit to VinFast's primary manufacturing facility in Hai Phong, Vietnam, pave the way for the company’s first standalone retail and distribution network for electric motorcycles and scooters in the country.

The proposed rollout will encompass more than 50 dedicated showrooms across 34 cities in 15 states and union territories. The expansion reflects a strategy to build a widespread footprint from day one rather than limiting sales to select metro cities.

Pan-India Retail Footprint

The signed LoIs cover key volume centres across northern, western, southern, central, and eastern India:

• North: Delhi-NCR, Rajasthan, and Punjab
• West: Maharashtra and Gujarat
• South: Karnataka, Telangana, Tamil Nadu, Kerala, and Andhra Pradesh
• Central: Madhya Pradesh, Chhattisgarh, and Uttar Pradesh
• East: West Bengal and Odisha

According to the company, these regional clusters represent the country’s largest two-wheeler markets and offer immediate opportunities for rapid electric adoption.

Comprehensive Ecosystem and Strategy

VinFast, which initially entered the Indian market in 2025 focusing on passenger electric cars and setting up a manufacturing facility in Thoothukudi, Tamil Nadu, is keeping its electric two-wheeler distribution infrastructure distinct from its passenger vehicle network.

Commenting on the expansion, Vo Thi Cam Tu, Managing Director of VinFast E-Scooters Overseas Market, highlighted that India represents one of the most critical markets in the company’s global growth strategy due to its scale and accelerating demand for clean mobility.

Anurag Saxena, Chief Executive Officer of VinFast India E-Scooters, noted that establishing retail outlets is only the first phase of the company's entry strategy. Alongside dealer onboarding, VinFast is actively developing charging infrastructure and after-sales service operations to ensure long-term ownership viability for Indian customers.

Market Landscape and Investor Takeaways

India remains the world's largest two-wheeler market, clocking approximately 21.41 million total registrations in FY2025-26. However, electric two-wheeler penetration accounted for only 6.54% of that volume during the period, providing significant headroom for electrification.

For Indian stock market investors, VinFast’s aggressive push highlights intensifying foreign interest in India’s electric two-wheeler ecosystem. The arrival of global manufacturers with deep manufacturing scale is likely to test the pricing power and market share of incumbent listed players, including TVS Motor Company, Bajaj Auto, and Ola Electric Mobility. Success will ultimately hinge on localization levels, battery performance under Indian climate conditions, charging accessibility, and competitive entry price points.

Tags: VinFast Ola Electric Mobility TVS Motor Company Bajaj Auto Electric Vehicles Auto Sector