Whalesbook
VinFast's Indian Taxi Service Begins
VinFast has launched its Green SM electric taxi service in Delhi-NCR with an initial fleet of 1,000 vehicles, marking a major expansion into India's transportation sector. The company aims to grow this fleet to 15,000 vehicles across India by the end of 2026. This move seeks to benefit from the increasing demand for electric mobility and an opportunity opened by the recent operational halt of BluSmart, a key player in the all-electric cab market.
Competitive Fares and Driver Earnings
The Green SM service will charge Rs 8 per kilometer. VinFast will not use surge pricing or charge extra during peak hours or bad weather, unlike many competitors. The company anticipates drivers could earn ₹35,000 to ₹40,000 monthly.
VinFast Limo Green Model
The VinFast Limo Green, a seven-seater electric MPV, will be the primary vehicle. It is designed for commercial use and offers a large 1,240-litre boot space when the third-row seats are folded. The Limo Green uses a 60.13 kWh battery, providing a range of up to 450 km. It supports fast charging, reaching 70% from 10% in about 30 minutes.
India as a Key Manufacturing Base
India is central to VinFast's global plans. The company operates an integrated EV manufacturing plant in Thoothukudi, Tamil Nadu, which began production in August 2025. This facility can produce up to 150,000 vehicles annually and may serve as an export hub. VinFast also plans to expand its dealer network to 75 locations in 60 cities by the end of 2026 to support sales of its passenger vehicles, including the VF 6 and VF 7 SUVs.
Market Position and Competition
VinFast's entry into India's ride-hailing market comes at a dynamic time. The challenges faced by BluSmart have created an opening for VinFast. This is in contrast to Tesla, which withdrew its Indian manufacturing plans due to tariff issues. The Indian taxi market is highly competitive, with major players like Ola and Uber, as well as other EV fleet operators like Everest Fleet and Evera.
The Challenge of EV Depreciation
A significant issue in India's EV market, especially for fleets, is how quickly electric vehicles lose value. BluSmart's collapse highlighted this, as its fleet saw a sharp drop in value due to uncertainties about battery life. This rapid depreciation could affect the financial sustainability of fleet operations like VinFast's Green SM service, unless measures like battery-as-a-service or extended warranties are implemented.