Vietnamese electric vehicle maker VinFast has secured its position among India's top five EV manufacturers through strategic partnerships with its promoter-owned ride-hailing service. According to data from the government's Vahan portal reviewed by Mint, GreenSM accounted for 21% to 33% of VinFast's monthly sales between April and July as the ride-hailing service expanded across Delhi-NCR. Sales to the captive fleet business accounted for about 27% of VinFast's 5,178 total units sold in FY27, helping the company maintain its position as India's fifth-largest EV maker. This internal demand has enabled VinFast to outpace competitors like Hyundai, Kia, and BYD, positioning it ahead of established players in the commercial fleet segment.
VinFast's commercial fleet strategy has delivered consistent monthly growth, with month-on-month growth remaining in the 8-18% range from April to June when excluding commercial fleet sales. However, overall growth spiked to 69% in April with commercial fleet sales included, before normalizing to negative 1% in May and 11% in June. As reported by Mint, VinFast would still remain India's fifth-largest EV maker without GreenSM's purchases, but the trailing distance behind fourth-placed Maruti Suzuki would widen from under 1,000 units to more than 2,000 units. This performance demonstrates the significant impact of the captive fleet arrangement on the company's overall market position.
GreenSM entered India in June, launching its premium EV cab service in Delhi-NCR using VinFast's Limo Green MPV, an electric seven-seater that debuted for retail customers in April. According to Mint, other VinFast models available in India include the VF6 and VF7 electric SUVs, which range between ₹17-22 lakh ex-showroom, with the VF MPV 7 being the most expensive at ₹24 lakh. The company began manufacturing at its Thoothukudi facility in August 2025 and launched its VF6 and VF7 models in September, backed by a $2 billion investment commitment in India over the next few years.
The commercial fleet strategy reflects broader trends in India's EV market, where taxi registrations rose 9% year-on-year to roughly 312,665 units in calendar year 2025—nearly triple the 114,535 vehicles registered in 2022. As reported by Mint, this approach mirrors VinFast's playbook in Vietnam, where sales to its affiliated cab fleet initially boosted volumes but raised investor concerns over demand concentration. The company's long-term strategy focuses on building a premium brand for individual customers while leveraging commercial fleet partnerships to accelerate market adoption and understand product performance.
