Vietnam's EV Firm Vinfast Breaks Ground For Its Facility In India (Lead)


(MENAFN- IANS) New Delhi, Feb 25 (IANS) Vietnam's leading electric vehicle (EV) manufacturer VinFast on Sunday broke ground for its first integrated EV manufacturing facility in India.

The company will be setting up the plant in Thoothukudi, Tamil Nadu.

"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," Pham Sanh Chau, CEO of VinFast India, said in a statement.

Spanning 400 acres within the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) industrial estate, the EV facility boasts a total initial investment of $500 million over five years, with a projected capacity of 1,50,000 vehicles annually, the company said.

The company also noted that this will create jobs for 3,000 to 3,500 local people. While strengthening partnerships with world-leading suppliers, VinFast also plans to promote localisation, contributing positively to local economic growth.

"Tamil Nadu will match VinFast's ambitious growth plans in the country and is committed to making zero-emission mobility widely accessible. We believe the project will substantially contribute to the local economic advancement, job creation, and technical skill development of the people of Tamil Nadu," said Tamil Nadu Industries Minister T. R. B. Rajaa.

In addition to the manufacturing facilities, the EV maker plans to establish a nationwide dealership network to build a strong brand presence and swiftly connect with customers across the country.

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