VinFast breaks ground for integrated EV plant in Thoothukudi, TN;  to invest USD 500mn, ET Auto

VinFast breaks ground for integrated EV plant in Thoothukudi, TN; to invest USD 500mn, ET Auto


While strengthening partnerships with major global suppliers, VinFast also plans to promote localization, positively contributing to local economic growth, the company said. “/>
While strengthening partnerships with major global suppliers, VinFast also plans to promote localization, contributing positively to local economic growth, the company said.

New Delhi: VinFast, Vietnam’s leading electric vehicle (EV) manufacturer, broke ground for its electric vehicle (EV) manufacturing facility in the port city of Thoothukudi, in Tamil Nadu, on Sunday. VinFast will invest 500 million dollars in the project for 5 years.

Occupying 400 acres in the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) industrial estate, the facility will have an estimated capacity of 150,000 EVs annually. It will create 3,000 to 3,500 local jobs, the company said.

While strengthening cooperation with the world’s leading distributors, VinFast also plans to promote localization, positively contributing to the growth of the local economy, the company said in a press release.

The foundation laying ceremony was presided over by the Chief Minister of Tamil Nadu, MK Stalin. Industries Minister TRB Rajaa, Industries Secretary V. Arun Roy, Kanimozhi Karunanidhi, Member of Parliament – Thoothukudi constituency, State ministers, MLAs, and the leadership team of VinFast India were present.

Pham Sanh Chau, CEO of VinFast India, said, “VinFast’s inauguration ceremony for its plant in Thoothukudi, Tamil Nadu, is an important step towards sustainable and green mobility in India. By establishing an integrated electric vehicle facility, the company’s mission to create jobs, green transportation and The strategic partnership strengthens VinFast’s position as a major player in the electric vehicle industry. This milestone strengthens the relationship between the strong economies of Vietnam and India, and underscores VinFast’s commitment to a future of zero-emission transportation, setting the stage for growth of economy, innovation and environmental sustainability in the country. Region.”

TRB Rajaa said, “VinFast’s entry into India reaffirms Tamil Nadu’s progressive industrial policies and its role as a global automotive innovation hub and manufacturing hub. Tamil Nadu will align with VinFast’s ambitious growth plans in the country and is committed to mobility We believe the project will contribute significantly to local economic development, job creation, and technical skill development of the people of Tamil Nadu.

India is a key market in VinFast’s global expansion plan, leveraging the potential presented by this fast-growing market. This project not only confirms VinFast’s global reach but also joins the existing manufacturing complex in Vietnam with future plants in the US and Indonesia, strengthening VinFast’s global manufacturing system, on the supply side.

In addition to manufacturing facilities, VinFast plans to establish a network of distributors across the country to build a strong brand presence and connect quickly with customers across the country. VinFast is committed to providing the Indian market with the best products, competitive prices, and excellent after-sales services to make electric mobility widely available and strengthen the comprehensive strategic partnership between Vietnam and India, the release added.

  • Posted on February 26, 2024 at 07:54 AM IST

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