Vietnamese Carmaker Vinfast Sets Up USD 2 Billion EV Plant In Tamil Nadu

(MENAFN- KNN India) Thoothukudi, Apr 24 (KNN) Vietnamese electric vehicle (EV) manufacturer VinFast is set to inaugurate its first Indian assembly plant in Thoothukudi, Tamil Nadu, by the end of June 2025.

This move is part of the company's strategic shift towards Asian markets, including India, Indonesia, and the Philippines, following challenges in the U.S. market.​

The Thoothukudi facility, representing a USD 2 billion investment, will commence with an initial USD 500 million phase. Once operational, it aims to produce up to 150,000 vehicles annually.

The plant will also encompass battery manufacturing and the development of charging infrastructure across India, with V-Green, a VinFast group company, seeking co-investors for this initiative.​

Thoothukudi was chosen for its proximity to seaports and airports, facilitating exports to markets in West Asia and Africa. The project is expected to generate approximately 3,000–3,500 local jobs.​

At the Bharat Mobility Global Expo 2025, VinFast unveiled two all-electric premium SUVs, the VF 7 and VF 6, slated for launch in India later this year.

This development coincides with Tesla's plans to enter the Indian market. The company has leased office space in Pune and initiated hiring for positions in Mumbai and Delhi.

Tesla CEO Elon Musk has engaged in discussions with Indian Prime Minister Narendra Modi and announced intentions to visit India later this year.​

VinFast's expansion into India underscores the country's growing significance in the global EV landscape, attracting major players aiming to establish a foothold in the region.

(KNN Bureau)

MENAFN24042025000155011030ID1109469765