According to Reuters, Vietnamese electric vehicle manufacturer VinFast is set to open its first Indian manufacturing facility in the southern state of Tamil Nadu. The plant, located in the city of Thoothukudi, will produce batteries for electric vehicles, according to one of the sources1. This is separate from VinFast’s previously announced plans to assemble vehicles shipped in parts from Vietnam. The company has not yet commented on the matter, but an announcement is expected in the coming days.
VinFast officials have reportedly visited Thoothukudi district in Tamil Nadu to check out sites1. However, it is not immediately clear when the factory will become operational or what the size of the investment is.
In October 2023, VinFast announced that it would build assembly factories in India and Indonesia, with each having a capacity of up to 50,000 cars per year and capital expenditure of up to $200 million initially. Production is expected to commence in 2026.
Green SM, an EV taxi operator mostly owned by VinFast’s founder, also plans to establish in India, according to VinFast CEO Le Thi Thu Thuy.
VinFast is planning to enter the Indian market next year and is looking to enter the electric bus and scooter segments in addition to launching electric SUVs 1. The company has the capability and technology to produce electric buses and e-scooters, according to Ashwin Patil, Vice President & Director of Sales for VinFast in India . However, he did not provide a specific timeframe for their launch.
In October 2023, VinFast announced that it would build assembly factories in India and Indonesia, with each having a capacity of up to 50,000 cars per year and capital expenditure of up to $200 million initially. Production is expected to commence in 2026.
Tamil Nadu’s capital city Chennai, which is known as the Detroit of Asia, and other districts already host several EV players, including Indian two-wheeler makers Ola Electric and Ather, as well as China’s BYD.
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