NEW DELHI, Jan 17 (Reuters) - Vietnamese electric

vehicle maker VinFast will enter the Indian market with

two premium electric SUVs, taking on homegrown rival Mahindra &

Mahindra and China's BYD, which already has a presence in the

world's third-largest car market.

VinFast unveiled its VF6 and VF7 SUVs at the India Auto Show

in New Delhi, as it hopes to draw buyers to its EVs and

contribute to India's goals of eliminating carbon emissions on a

net basis, said Pham Sanh Chau, VinFast's Asia CEO.

"We are turning our focus to India - our next growth

frontier," Chau told reporters.

Nasdaq-listed VinFast counts North America and Vietnam as

its primary markets but is trying to expand aggressively

elsewhere. But the automaker has been reporting deepening losses

as EV demand softens.

Electric models accounted for about 2.5% of the more than 4

million vehicles sold in India last year. The government,

targeting 30% by 2030, is working on a programme to attract EV

makers.

VinFast said last year it would invest $500 million in India

over five years to build a car and battery factory, now under

construction in the southern state of Tamil Nadu, and launch new

car models.

The factory will have an initial capacity of 50,000 cars a

year and can be scaled up to 250,000 based on demand, Chau said,

adding the company is appointing dealers in India and studying

investments in setting up charging infrastructure.

Like Tesla, VinFast has sought a reduction from the

Indian government on the 100% import tax on fully built EVs to

allow it to launch cars while its factory comes online. The move

has been opposed by domestic automakers.