VinFast, the Vietnamese electric vehicle manufacturer, is in discussions with Hyderabad's Megha Engineering & Infrastructures (MEIL) and the Adani Group to explore potential partnerships as it prepares to launch its cars in India.

According to a report by The Times of India, VinFast is still undecided on whether to participate in India's new electric vehicle (EV) policy, which offers import tax breaks for companies investing $500 million in local manufacturing.

VinFast is currently setting up a manufacturing plant in Tamil Nadu and aims to launch its electric cars in 2025. According to the report, the company is seeking a local partner to navigate India's regulatory landscape, manage labor relations, and establish a reliable supply chain for components.

According to TOI sources, while discussions with both MEIL and the Adani Group are ongoing, no final decision has been made regarding a joint venture. A spokesperson for VinFast in India confirmed that the company is still exploring collaboration opportunities globally but declined to comment on the specifics of the talks.

MEIL, recognized for its Olectra brand of electric buses, acknowledged that talks with VinFast have occurred but stressed that they are in the early stages. "VinFast approached us and initiated discussions. We are still evaluating the proposal and have not made any confirmations yet," a source from the group revealed.

The Adani Group did not confirm the talks yet according to TOI.

VinFast's concerns are due to potential conditions in the policy that may not acknowledge certain types of investments.

The Vietnamese company plans to showcase its vehicles at the Bharat Mobility Expo early next year.