Vietnamese electric vehicle (EV) manufacturer VinFast has commenced recruitment efforts in India, signaling its intent to expand operations into the country. In a LinkedIn advertisement, the company is seeking individuals who are “daring to think, daring to do, and daring to face difficulties.”
Despite experiencing financial losses and a significant decrease in market value since its $85 billion Wall Street debut last month, VinFast is pressing forward with its global expansion plans. While the company previously announced its intentions to establish a presence in various countries, including India, it has not provided specific details or a timeline for its entry into the Indian market.
The LinkedIn posting indicates that VinFast is actively recruiting for various positions in India, including sales, legal, and back-office roles. These job opportunities will be based in Gurugram, a satellite city located on the outskirts of New Delhi.
VinFast, primarily controlled by Pham Nhat Vuong, Vietnam’s wealthiest individual and the founder of parent conglomerate Vingroup, currently holds a valuation of nearly $39 billion. The company is preparing to enter the Indian market by offering a range of positions across different sectors of the automotive industry.
The job ad mentions the recruitment of dealer managers, sales training managers, and service quality control personnel. Additionally, the company is seeking candidates for legal, finance, and human resource roles. The advertisement emphasizes the need for candidates with a minimum of three years of experience and specific personal qualities, including daringness and the ability to confront challenges. VinFast intends to provide attractive compensation packages to successful candidates.
VinFast’s entry into India would place it in competition with Tesla and domestic giant Tata Motors in the emerging but rapidly growing electric vehicle segment. While electric cars accounted for only about 2% of total car sales in India in the previous year, the Indian government has set ambitious goals to increase this figure to 30% by 2030. To attract EV manufacturers, the government is developing a new scheme that offers lower import taxes in exchange for investments in local manufacturing, as reported by Reuters last month.
Notably, Tesla is also exploring opportunities in the Indian market and is engaged in discussions with New Delhi regarding the establishment of a manufacturing facility. In a recent U.S. regulatory filing, VinFast revealed plans to invest $1.2 billion in Indonesia to sell cars and build a factory, demonstrating its broader ambitions in the Southeast Asian region.