Vietnamese electric vehicle (EV) manufacturer VinFast has announced it will conduct the ground-breaking ceremony for its upcoming India facility on February 25, 2024. The plant will be situated in Thoothukudi, Tamil Nadu, and is expected to create 3,000-3,500 job opportunities locally. 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.
Also Read: VinFast To Set Up EV Plant In Tamil Nadu With An Initial Investment Of Over Rs 4,000 Crore
Vehicles produced at the Tamil Nadu plant will also be exported to international markets
The new plant will have an annual capacity of 150,000 vehicles. Vehicles that roll out of the plant will be sold in the Indian market while also being exported to international markets such as South Asia, the Middle East, and African countries.
Also Read: VinFast Appoints Founder Pham Nhat Vuong As CEO
The VF8 is one of the SUVs offered on sale by VinFast globally
VinFast’s global portfolio consists of the VF9, VF8, VF7 and VF6, some of which will likely be offered in the Indian market. The brand has already commenced deliveries of the VF9 and VF8 worldwide with the other two models to follow shortly. The EV maker also showcased the VF3, a micro-SUV along with an all-new concept EV pickup truck at CES 2024.
