Vietnam-based electric vehicle (EV) manufacturer VinFast has officially commenced construction of its first integrated EV manufacturing facility in Tamil Nadu, India.
This move is expected to generate approximately 3,500 jobs for residents and represents the company's commitment to promoting global green transportation.
The ground-breaking ceremony for the facility was attended by various dignitaries, including Tamil Nadu Chief Minister MK Stalin, senior government officials, and the VinFast India leadership team.
VinFast India CEO Pham Sanh Chau said: “VinFast's ground-breaking ceremony for its plant in Thoothukudi, Tamil Nadu, is a significant stride towards sustainable and green mobility in India.
“This milestone strengthens the bonds between the robust economies of Vietnam and India, and underscores VinFast's dedication to a zero-emission transportation future, setting the stage for economic growth, innovation, and environmental sustainability in the region.”
Last month, the company signed a memorandum of understanding with the Tamil Nadu state government to build this facility.
The partnership involves a total investment of up to $2bn.
Covering 400 acres within the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) industrial estate, the plant represents an initial investment of $500m over five years.
The factory plans to have an annual production capacity of 150,000 vehicles.
The facility will join VinFast's manufacturing network, which includes its complex in Vietnam and future plants in the US and Indonesia.
The Indian market is noted to be a key focus in VinFast's strategy to extend its reach and influence in the EV sector.
