VinFast to hold groundbreaking ceremony for integrated EV facility in India

This move represents a significant step towards a strategic partnership between VinFast and India's state government aimed at advancing the development of green transportation in India and the region.

The partnership between VinFast and the government of Tamil Nadu began with a MoU announced on January 6, 2024. The collaboration aims towards an intended commitment of $500 million for the first phase of the integrated EV facility, spanning five years from the commencement date. This move is a significant milestone in VinFast's global expansion strategy of venturing into one of the world's fastest growing major economies and its burgeoning EV market.

The groundbreaking ceremony of the EV manufacturing plant just over a month after the announcement of the MoU affirms VinFast's strong determination and roll-out speed in its global expansion plan.

VinFast’s integrated EV manufacturing facility in Tamil Nadu is projected to offer 3,000 to 3,500 local job opportunities, demonstrating the company's commitment to the state’s socioeconomic development.

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 will not only cater for development objectives in the Indian market, but also serve export demands to South Asian, Middle Eastern and African countries.

Additionally, the project will catalyze green transportation development which is key agenda for the government of India and the state's goal of curtailing carbon emissions in the transport sector, targeting 30 per cent of newly registered private cars to be electric.

As Vietnam’s top electric vehicle manufacturer with global aspirations, VinFast's relentless dedication to innovation and research is driving the company towards its goal of being a global leader in the electric vehicle industry and its commitment to a sustainable future for all.

Vietnamese carmaker VinFast said it will build its first electric vehicle factory in India as part of a planned $2 billion investment, as it looks to expand into the rapidly growing market.

On January 6, VinFast announced its official foray into India by forming a landmark partnership with the Tamil Nadu state government in a MoU to charge the development of green transportation in the country.

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