EV Maker VinFast Signs 13 Dealer Pacts, Partners with BatX for Battery Recycling

VinFast Auto India has announced two developments as it prepares to enter the Indian electric vehicle market. As per news reports, the company has signed dealership agreements in multiple cities and partnered with BatX Energies for battery recycling and material recovery operations.

Dealer Pacts for 32 Locations Across India

VinFast Auto India has entered into agreements with 13 dealer groups to open 32 dealerships in 27 cities. These are part of the company’s plan to establish a total of 35 dealerships across the country by the end of 2025.

The cities covered under the initial agreements include Delhi, Gurugram, Noida, Bengaluru, Chennai, Hyderabad, Pune, Jaipur, Ahmedabad, Kolkata, Cochin, Bhubaneswar, Thiruvananthapuram, Chandigarh, and Lucknow. 

Each dealership will follow the 3S model: sales, service, and spares. The company is preparing to open pre-bookings for 2 electric SUV models, VF 6 and VF 7, on July 15. These models are expected to be introduced ahead of the upcoming festive season.

Battery Recycling Deal with BatX Energies

In a separate update, VinFast has signed an agreement with BatX Energies to handle battery recycling and repurposing operations in India. BatX Energies is an Indian clean-tech company working in the area of battery waste management and metal recovery.

The agreement covers high-voltage battery recycling for VinFast’s factory and after-sales operations. The process will include recovery of materials such as lithium, cobalt, and nickel, which can be reused in the battery production cycle.

This arrangement is to create a local framework for managing end-of-life electric vehicle batteries. No financial details of the agreement were disclosed.

Manufacturing Facility in Tamil Nadu

VinFast is also setting up a manufacturing facility in Tuticorin, Tamil Nadu. The company is investing around $500 million in the plant, which is expected to be operational by the first half of 2025.

Once complete, the facility is expected to support an annual production capacity of up to 1.5 lakh electric vehicles. Apart from domestic sales, the company plans to export vehicles to countries in the Middle East and Africa.

Read more: VinFast and RoadGrid Join Forces for EV Charging and Servicing in India!

Conclusion 

With dealership signings, a recycling partnership, and a manufacturing facility underway, VinFast is executing its phased entry into the Indian electric vehicle market.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.