The EV sales have been rising rapidly in India, but some new car companies are a bit more successful than others
Updated on 06.02.2026 – VinFast has established a collaboration with Bank of Baroda to offer attractive financial solutions for its exclusive dealer network. The Memorandum of Understanding (MoU) aims to deliver a seamless suite of credit solutions to accelerate network expansion. This will be instrumental in popularizing the brand across various parts of the country. Having more touchpoints invites new customers to experience these products and services. That is what leads to more demand and sales. Under this deal, Bank of Baroda will lend Rs 200 Crore to VinFast dealers on flexible terms.
The collaboration enables VinFast to leverage Bank of Baroda’s extensive pan-India branch network and digital platforms to reach customers across the nation. The MoU was signed by Mr. Pham Sanh Chau, CEO of VinFast Asia, along with Mr. Madhur Kumar, Chief General Manager – MSME Banking, Co-Lending, and Supply Chain Finance and Mr. D Ananda Kumar, General Manager, Supply Chain Finance, BANK OF BARODA at Baroda Corporate Centre, BANK OF BARODA, Mumbai. It will be intriguing to see how well this translates to sales.
VinFast India Sells 5x More EVs Than Tesla
Originally published on 02.01.2026 – In a rather interesting turn of events in terms of monthly sales, the new entrant, VinFast, has been able to secure significantly more EV sales than the famed Tesla. We know that both these carmakers began selling their products around the same time in India. On the one hand, we have the new Vietnamese carmaker with its mass-market EVs to grab a chunk of the colossal Indian automobile market. On the other hand, Tesla brings an eminent brand image for being the pioneer in this regard, globally. Hence, the competition between the two is quite distinct and intriguing.
VinFast India Sells 5x More EVs Than Tesla
As per the latest reports, VinFast managed to sell 375 EVs in the month of December 2025. These include the VF6 and VF7 models. These two are relatively budget-friendly vehicles, aimed at the masses. On the other hand, Tesla just sold 68 units of the Model Y in the same month. Understandably, the Model Y is considerably more expensive than the VF cars. Nevertheless, Tesla entered our market with a huge brand name to pull top celebrities. Unfortunately, that didn’t translate into sales.
VinFast has been working tirelessly for the past couple of years to raise brand awareness with tons of press releases and media interactions. It studied the Indian market extensively and launched products it believes would entice more buyers. That is something Tesla didn’t have to do. It brought in its most popular vehicle with the hope that just the brand image would be enough to get the buyers interested. That could be the reason it is not selling in as high numbers as it would’ve liked. Let us see if this trend changes going forward.
VinFast-HPCL Collaboration
Interestingly, VinFast’s V-GREEN Global Charging Station Development Company has announced a strategic partnership with Hindustan Petroleum Corporation Limited (HPCL) to develop electric vehicle charging infrastructure in India. Note that HPCL already has 5,300 EV charging stations under the HP e-Charge brand across the nation. This number is rising rapidly. On the other hand, V-GREEN is an experienced player in this space with over 1,50,000 charging ports in Vietnam, along with operations in Indonesia and the Philippines. Now, it wants to establish its strong presence in India.
Also Read: Upcoming VinFast Limo Green Spied Testing, To Be Part of Ride-Hailing Service
