Building begins on Vinfast”s $500 million EV manufacturing facility in India

VinFast broke floor on its first built-in electrical automobile (EV) manufacturing facility within the state of Tamil Nadu, India, on February 25.

Construction starts on Vinfast's $500 million EV factory in India

The landmark mission will create employment alternatives for roughly 3,500 locals and exemplifies VinFast‘s world dedication to inexperienced transportation.

Spanning 400 acres throughout the State Industries Promotion Company of Tamil Nadu Industrial Park, the power boasts an preliminary funding of $500 million over 5 years, with a projected annual capability of 150,000 automobiles.

Pham Sanh Chau, CEO of VinFast India, mentioned, “VinFast’s EV plant in Tamil Nadu is a big step in direction of sustainable mobility in India. This milestone strengthens the bond between Vietnam and India, and underscores VinFast’s dedication to a zero-emission future, setting the stage for financial development, innovation, and environmental sustainability within the area.”

Dr. T. R. B. Rajaa, Minister for Industries in Tamil Nadu, added, “VinFast’s entry into India alerts Tamil Nadu’s progressive industrial insurance policies and its function as a worldwide automotive innovation and manufacturing hub. Tamil Nadu will match VinFast’s formidable development plans and is dedicated to creating zero-emission mobility extensively accessible. We imagine this mission will considerably contribute to the development of the native economic system, create jobs, and assist develop the technical abilities of the individuals of Tamil Nadu.”

India is vital to VinFast’s world growth plan, because it needs to capitalise on the potential offered by this quickly rising market. The Tamil Nadu plant demonstrates VinFast’s substantial world attain and joins the prevailing manufacturing community in Vietnam, and future initiatives in the USA and Indonesia, in solidifying the corporate’s world manufacturing ecosystem.

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By Thanh Van

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