At a VinFast-hosted forum in Vietnam, journalists, industry experts and automakers agreed that winning mainstream buyers will require more than cheaper electric cars.
At a VinFast-hosted forum in Vietnam, journalists, industry experts and automakers agreed that winning mainstream buyers will require more than cheaper electric cars
Before the Iran conflict sent fuel prices soaring, India’s electric passenger vehicle market was already building momentum, driven in part by growing consumer awareness and a shift in how families make car-buying decisions.
Experts broadly agree that growing concerns over air pollution in cities such as Delhi, combined with increasing awareness of climate change, are shaping consumer attitudes toward electric vehicles. They also note that car purchases in India are typically family decisions, with children playing an increasingly influential role. Younger family members are often drawn to the modern, stylish designs of EVs, which can further encourage households to choose electric models.
The conflict simply reinforced a trend that had been gathering pace, as more consumers began weighing not just what a car costs to buy, but what it costs to own.
According to the Federation of Automobile Dealers Associations (FADA), India retailed a record 31,823 electric passenger vehicles in June, more than double the volume a year earlier and enough to lift EV penetration to 7.7% of passenger vehicle sales, up from 4.8% a year ago . Alternative-fuel vehicles, including EVs, hybrids and CNG models, accounted for more than 40% of passenger vehicle sales for the first time.
Yet despite the rapid growth, electric cars remain a minority choice in a country where more than four million passenger vehicles are sold annually. The opportunity is enormous, but so is the gap between consumer interest and actual purchases. The question now is what will persuade millions more mainstream buyers to make the switch.
That question was the focus of a recent discussion organized by VinFast in Vietnam, where journalists, industry experts and automakers debated what it will take to move EVs into India’s mainstream. While participants approached the issue from different perspectives, they reached a similar conclusion: accelerating four-wheeler EV adoption will require more than cheaper batteries or additional charging stations. It will require giving consumers confidence that an electric car fits seamlessly into everyday life.
Confidence Is the New Currency
That starts with changing how consumers evaluate an EV. And the debate around EV adoption is gradually shifting away from sticker prices toward a longer-term measure: total cost of ownership.
According to Shams Raza Naqvi, senior editor at car&bike, the buying decision has evolved as the price gap between EVs and conventional vehicles continues to narrow.
“Upfront expenditure is not as much of a concern now because the gap between the cost of EVs and ICE cars is reducing,” he said. “What they worry about more is spending 5,000 to 6,000 rupees every time they go to a fuel pump versus the much cheaper cost of charging at home.”
That assessment was echoed by Dr. Javeid Khan, an automotive reviewer at CarAdvice, who said rising fuel prices are prompting consumers to look beyond the showroom price.
“Fuel prices have increased significantly, sometimes three or four times in a week. An EV has a very low cost of running compared to an ICE car, and that is a very big factor for Indian consumers.”
Technology is also helping strengthen the value proposition. For example, Khan pointed out that EVs, once seen primarily as second or third cars for daily commuting, are becoming increasingly practical for longer journeys as driving ranges stretch to 450 to 500 kilometers.
But if economics are becoming easier to justify, ownership still needs to feel less uncertain. While driving range has improved significantly, range anxiety persists. Panelists pointed to inconsistent charger uptime, fragmented payment systems and uneven highway coverage as continuing pain points. Apartment residents often struggle to install home chargers, while concerns over battery life, resale value and fire safety continue to shape perceptions among first-time buyers.
In other words, India’s EV challenge is less about making electric cars cheaper and more about making ownership feel predictable.
Winning the Ownership Experience
That is where automakers believe they can make the biggest difference.
If affordability gets consumers through the showroom door, the ownership experience is increasingly what determines whether they sign the purchase agreement. As a result, manufacturers are competing less on specifications alone and more on the ecosystem that surrounds the vehicle.
“To nudge customers, we need three stakeholders: customers, government and OEMs,” said Tapan Ghosh, CEO of VinFast India. While calling for governments to maintain supportive tax policies until the market reaches an inflection point, he argued that manufacturers also have to make EV ownership less intimidating.
At VinFast, that has translated into a strategy of building a comprehensive ownership ecosystem alongside its vehicles. Beyond expanding its charging and service network, the company is partnering with third-party providers to strengthen aftersales support while offering free charging, free maintenance, a residual value guarantee and warranties of up to 10 years, depending on the vehicle, to reduce ownership concerns.
That emphasis on the broader ownership ecosystem resonated with other participants, who pointed out that confidence is shaped as much by the surrounding infrastructure and support network as by the vehicle itself. Participants who recently visited Vietnam said the country’s mature charging network, built by VinFast’s sister company V-Green, offered a glimpse of what widespread adoption could look like.
“When you land in Vietnam, you notice the number of electric cars on the roads,” said Ranojoy Mukerji, assistant editor at The New Indian Express’ Indulge. “Seeing hundreds of cars charging simultaneously removes the mental block people have.”
Policy support, however, remains indispensable. Panelists called for greater policy clarity, continued investment in charging infrastructure, innovative financing from banks and non-banking financial companies, and consistent long-term policies that give both consumers and manufacturers the confidence to invest.
About VinFast
VinFast (NASDAQ: VFS), a subsidiary of Vingroup JSC, one of Vietnam’s largest conglomerates, is a pure-play electric vehicle (“EV”) manufacturer with the mission of making EVs accessible to everyone.
VinFast’s product lineup today includes a wide range of electric SUVs, e-scooters, and e-buses. VinFast is currently embarking on its next growth phase through rapid expansion of its distribution and dealership network globally and increasing its manufacturing capacities with a focus on key markets across North America, Europe and Asia.
Learn more at: www.vinfastauto.in
