VinFast to establish major EV facility in Tamil Nadu, India
VinFast, the electric vehicle (EV) manufacturer from Vietnam, has announced a significant partnership with the Tamil Nadu State Government in India. This collaboration, formalised through a memorandum of understanding (MoU), marks a major step in VinFast’s global expansion and the development of green transportation in India. The partnership involves a substantial investment of up to USD2 billion, with an initial commitment of USD500 million for the first phase, spanning five years from the commencement date.
The establishment of VinFast’s integrated electric vehicle facility in Tamil Nadu is expected to create approximately 3,000 3,500 local jobs. This initiative aligns with the state government’s efforts to reduce carbon emissions in the transportation sector.Tran Mai Hoa, deputy CEO of Sales and Marketing at VinFast Global, expressed the company’s commitment to sustainable development and vision for a greener future.
Situated in Thoothukudi, the VinFast Tamil Nadu project aims to evolve into a first-class electric vehicle production hub in the region, with an annual capacity of up to 150,000 units. Construction of the plant is anticipated to begin in 2024. This project is set forth to lay a strong foundation for economic growth in Tamil Nadu and India as a whole.
In addition to building manufacturing facilities in Tamil Nadu, VinFast plans to launch a nationwide dealership network in India. This strategy aims to establish a strong brand presence and connect with customers across the country. The investment in Tamil Nadu is expected to foster mutual economic growth for both VinFast and the state, while also strengthening the Comprehensive Strategic Partnership between Vietnam and India.
VinFast’s commitment to innovation and research drives its goal of becoming a global leader in the electric vehicle industry and contributing to a sustainable future. The company’s efforts in Tamil Nadu represent a significant step towards achieving these objectives and promoting green transportation development in the region.