VinFast to Break Ground at its First Electric Vehicle Manufacturing Plant in India

Vietnam's VinFast Auto is set to break ground at its integrated electric vehicle (EV) manufacturing site in Tamil Nadu on February 25, 2024. The plant will be VinFast's first EV manufacturing plant in India.

The partnership between VinFast and the Government of Tamil Nadu, began from the signed Memorandum of Understanding (MoU) announced on January 6, 2024.

The collaboration aims toward an intended commitment of $500 million for the first phase of the facility, spanning five years from the commencement date.

The site is projected to create around 3,000 to 3,500 local job opportunities, demonstrating the company's commitment to the State’s socio-economic development.

In a press release, the company states: '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 in its full capacity. This facility not only caters development objectives in the Indian market, but also serves export demands to South Asian, Middle Eastern and African countries.

It adds: 'The project will catalyze green transportation development which is key agenda for the government of India and the States of curtailing carbon emissions in the transport sector, targeting 30% of newly registered private cars to be electric'.

VinFast is Vietnam’s leading EV manufacturer.