After being established in the United States with a plant in North Carolina dedicated to the production of electric vehicles, VinFast continues its global expansion with the signing of a memorandum of understanding with the Government of Tamil Nadu to establish new manufacturing plant in India.

Located at the address Tutukudithe upcoming VinFast plant in Tamil Nadu aims to become a state-of-the-art electric vehicle manufacturing hub with a production capacity of up to 150,000 copies per year. Construction of this new factory is expected to begin in 2024 and is expected to contribute significantly to India’s economic and social growth.

Investment of 2 billion dollars

For its new plant in India, VinFast will invest up to 2 billion dollars Americans with investment commitments of 500 million dollars for the first phase of the project, which will last five years. This project of Frinstallation in India is strategic for VinFast, which seeks to conquer the market of the most populous country in the world, dealer network on a national scale.

VinFast’s EV factory in India is also expected to generate approx From 3,000 to 3,500 new jobs at the local level. The project will also enable the development of green mobility solutions in this Indian state, which aims to ensure that 30% of newly registered passenger cars are electric, as well as to minimize carbon emissions in the transport sector.

From traffic in the direction of VinFast

This project is the largest investment in the history of Tamil Nadu : The government of this southern Indian state is also committed to providing VinFast with cleared land for production facilities, uninterrupted power supply, and other infrastructure. The parties are also discussing possibilitiesinstallation of charging stations throughout the territory.

VinFast also recently announced a change in management, with Le Thi Thu Thuy replaced as CEO. CEO of VinFast by Pham Nhat Vuong, the current president of Vingroup, which owns the VinFast car manufacturer. Vingroup founder Pham Nhat Vuong is also the richest man in Vietnam, with a fortune estimated by Forbes at $4.6 billion.

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