VinFast Breaks Ground On EV Manufacturing Facility In India
- VinFast has conducted the ground-breaking ceremony for its upcoming India facility.
- VinFast has signed an MOU with the Tamil Nadu state government where it plans to invest USD 2 billion.
- The vehicles produced in the facility will be sold in India while also being exported to international markets.
VinFast conducted the ground-breaking ceremony for its upcoming India facility on February 25, 2024. The new facility will have an annual capacity of 150,000 units and is expected to create 3,000-3,500 job opportunities locally upon completion. The vehicles produced in the facility will be sold in India while also being exported to international markets. Situated in Thoothukudi, Tamil Nadu, the ceremony was attended by the likes of Tamil Nadu Chief Minister MK Stalin, Minister for Industries T. R. B. Rajaa, and Industries Secretary, V. Arun Roy.
Also Read: VinFast To Begin Construction Of EV Manufacturing Plant In India On February 25
VinFast CEO Pham Sanh Chau (Right) with Tamil Nadu Chief Minister MK Stalin (Left)
The setting up of this plant is part of a Memorandum of Understanding (MoU) that the EV brand has signed with the Tamil Nadu state government. The proposed investment amounts to USD 2 billion (Rs 16,638 crore approx), with an initial investment of USD 500 million (Rs 4,160 crore approx) for the first five years.
Pham Sanh Chau, CEO of VinFast India, commented on this historic milestone, stating: "VinFast's groundbreaking ceremony for its plant in Thoothukudi, Tamil Nadu, is a significant stride towards sustainable and green mobility in India. By establishing an integrated electric vehicle facility, the company's commitment to job creation, green transportation, and strategic partnerships solidifies VinFast’s position as a major player in the electric vehicle industry. This milestone strengthens the bonds between the robust economies of Vietnam and India, and underscores VinFast's dedication to a zero-emission transportation future, setting the stage for economic growth, innovation, and environmental sustainability in the region."
Also Read: VinFast Appoints Founder Pham Nhat Vuong As CEO
Models like the VF7 and VF6 are expected to make their debut in India eventually
Aside from this, VinFast also aims to establish a nationwide dealership network in India for its EVs. While there is currently no confirmation on what all models it will retail in India, models in its global portfolio like VF7 and VF6 are expected to make their debut here eventually.
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