VinFast Auto, a leading Vietnamese automaker, is set to commence construction at its integrated electric vehicle (EV) manufacturing site in Tamil Nadu on February 25, 2024. This plant will mark VinFast’s inaugural foray into EV manufacturing in India, following a partnership with the Government of Tamil Nadu that was formalized through a Memorandum of Understanding (MoU) announced on January 6, 2024.
The collaboration between VinFast and the Government of Tamil Nadu includes a commitment of $500 million for the initial phase of the facility over five years. The site is expected to generate approximately 3,000 to 3,500 local job opportunities, underscoring VinFast’s dedication to enhancing the state’s socio-economic landscape.
In a press release, VinFast expressed its vision for the Tamil Nadu project, stating, “The VinFast Tamil Nadu project aims to develop into a first-class electric vehicle production hub in the region, with an annual capacity of up to 150,000 units at full capacity.” The facility is designed not only to meet the development needs of the Indian market but also to cater to export demands in South Asian, Middle Eastern, and African countries.
The project aligns with India’s green transportation objectives, with the government aiming to have 30% of newly registered private cars be electric, thus curbing carbon emissions in the transport sector. VinFast’s entry into the Indian market is poised to catalyze the development of green transportation and further advance the country’s efforts toward sustainable mobility.
