VinFast to build electric vehicle facility in India

This marks a significant step in VinFast's ongoing expansion plan into the world’s third largest vehicle market.

Under the terms of the MoU, VinFast and the government of Tamil Nadu State have agreed on an investment of up to US$2 billion, including an intended commitment of US$500 million for the first phase of the project, spanning a total of five years from the initial commencement date.

The construction of the battery and EV factories is due to begin this year with the project expected to create between 3,000 to 3,500 local jobs.

The VinFast Tamil Nadu project aims to evolve into a first-class electric vehicle production hub in the region, with an annual capacity of up to 150,000 units.

Along with various economic benefits, the project will also pave the way for green transportation development, targeting 30% of newly registered private cars to be electric, fully aligning with the state governments initiatives to minimize carbon emissions in the transportation sector.

Tran Mai Hoa, deputy CEO of Sales and Marketing of VinFast Global, said, “The MoU demonstrates VinFast's strong commitment to the sustainable development and vision of a zero-emission transportation future. We believe that investing in Tamil Nadu will not only bring considerable economic benefits to both parties, but will also help accelerate the green energy transition in India and the region.”

Dr. TRB Rajaa, Minister of Industries of the Government of Tamil Nadu, emphasized that, “EV manufacturing companies are not only important economic drivers but also powerful accelerators to the State’s green vision. We are delighted that VinFast has chosen to invest in Tamil Nadu to establish its integrated EV facility."

"Possessing robust capabilities and unwavering commitment to a sustainable future, I believe that VinFast will emerge as a reliable economic partner and substantial contributor to Tamil Nadu’s long-term development”, he noted.