Vietnamese Auto Manufacturer Vinfast EV Facility Plant In India

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Vietnamese auto manufacturer Vinfast is planning to set up an EV manufacturing plant in India. Vinfast will start the construction of its ev manufacturing facility on 25th Feb 2024. As per media reports, Vinfast Auto is planning to invest 2 billion dollars in India in the upcoming years. Electric vehicles are getting popular in India because of increasing fuel prices. On the other hand, electric vehicles come with very low operation and maintenance costs. Other than this Indian government is also working on setting up EV charging Infrastructure, offering multiple subsidy benefits, discounts on registration fees, etc.

Details of Vinfast Auto

VinFast is a Vietnamese automotive manufacturer, It is a subsidiary of the Vingroup conglomerate. Vingroup is one of the largest private enterprises in Vietnam. VinFast was founded in the year in 2017 to offer quality products at affordable prices. The company made its debut at the 2018 Paris Motor Show and unveiled its first two car models and electric scooters. VinFast Auto has a strong vision of developing advanced electric vehicles (EVs) and sustainable transportation.

Currently, the company is focusing on developing feature-rich and performance-oriented electric vehicles and as a part of this strategy, Vinfast is investing 2 billion dollars in India to build its EV manufacturing plants and research and development of multiple electric vehicles

Vinfast Auto is Planning to Invest 500 Million Dollars In EV Facilities in Tamil Nadu

In a joint statement, Vinfast Auto and the State of Tamil Nadu confirmed that the Vietnamese auto giant is planning to invest 2 billion dollars in setting up an EV manufacturing unit in Tamil Nadu. In the statement, it is stated that Vinfast will invest 500 Million Dollars in the first phase of this project. Vinfast will invest the remaining amount strategically. With this project, Vinfast will start its business operation in India, the third-largest vehicle market in the world.

Highlights of Vinfast EV Manufacturing Unit In Tamil Nadu

Setting Up an EV manufacturing Unit in Tamil Nadu, India is a Crucial part of Vinfast’s strategy to establish a strong presence in the biggest emerging EV markets of the world. Here we are sharing key highlights of Vinfast EV Manufacturing Unit.

  • This EV manufacturing unit will be situated in Thoothukudi Tamil Nadu.
  • Construction of the EV manufacturing plant will start on 25th Feb 2024.
  • The capacity of the Vinfast electric vehicle manufacturing facility will be 1,50,000 vehicles annually.
  • This investment in Vinfast will be the largest in the entire state of Tamil Nadu
  • Vinfast EV manufacturing facility will generate around 3500 job opportunities directly and thousands of indirect job opportunities.

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