VinFast to break ground on electric vehicle factory in Tamil Nadu, India

The strategic partnership between VinFast and the Tamil Nadu state government has been established since the signing of the Memorandum of Understanding (MoU) on January 6, 2024. Under the agreement, VinFast commits to investing $500 million for the Phase 1 of the electric vehicle manufacturing plant project, to be implemented within 5 years. This is an important milestone in VinFast’s global expansion journey, marking the company’s strong progress into one of the world’s leading potential electric vehicle markets.

The official groundbreaking of the integrated Electric Vehicle Manufacturing Plant only a little over a month after the signing of the MoU with the state government affirms VinFast’s strong determination and speed of implementation in its global expansion plan.

VinFast’s Integrated Electric Vehicle Manufacturing Plant project in Tamil Nadu is expected to create around 3,000 to 3,500 jobs for the local labor market, demonstrating VinFast’s commitment to contributing to the sustainable development of the community.

With the vision of becoming a leading electric vehicle manufacturing center in the region, the plant project has a capacity of up to 150,000 electric vehicles per year when officially operational. This manufacturing facility not only caters to the development goals in the Indian market but also serves the export goals to South Asian, Middle Eastern, and African countries.

Furthermore, the project will contribute significantly to the promotion of green transportation development in India, contributing to the realization of the Indian government’s target of having 30% of newly registered private cars as electric vehicles. This is a strategic plan that helps reduce carbon emissions in the transportation sector and protect the environment.

TT (Tuoitrethudo)