In a groundbreaking move that heralds a new era in India’s electric vehicle (EV) landscape, Vietnam-based EV manufacturer VinFast has recently announced its plans to establish a state-of-the-art “integrated EV facility” in Tamil Nadu. The company’s strategic move comes on the heels of a Memorandum of Understanding (MoU) inked with the Tamil Nadu state government, solidifying its commitment to set up a manufacturing unit in the vibrant city of Thoothukudi.

Unveiling the Investment Commitment

VinFast is set to make a substantial investment of up to US$2 billion in its Indian venture over the next five years. As a testament to its dedication, the company has earmarked an impressive US$500 million for the initial phase of the project. This substantial investment reflects VinFast’s confidence in the potential of the Indian market and its commitment to fostering innovation in the EV sector.

Commencement of Construction in 2024

The wheels are set in motion as VinFast plans to commence construction on its cutting-edge facility in 2024. The facility, once completed, will boast an annual production capacity of 150,000 units, signifying the company’s ambition to be a major player in the Indian EV market. Moreover, this initiative is anticipated to create a substantial number of job opportunities, with an estimated 3,000-3,500 jobs set to be generated, providing a significant boost to the local economy.

Commitment to Green Vision

The Minister of Industries of the Government of Tamil Nadu, TRB Rajaa, expressed his enthusiasm, stating, “EV manufacturing companies are not only important economic drivers but also powerful accelerators to the State’s green vision.” This underlines the alignment of VinFast’s mission with Tamil Nadu’s commitment to sustainable development. The collaboration is poised to be a pivotal step in realizing the state’s green aspirations.

VinFast’s Vision for India: Beyond Manufacturing

Beyond establishing a manufacturing powerhouse, VinFast has broader plans for its foray into the Indian EV market. The company aims to set up a robust dealership network across the country, ensuring widespread accessibility to its cutting-edge electric vehicles.

Unveiling the Tesla-Rivaling EVs

VinFast is not merely entering the Indian market; it’s doing so with a bang. The company, often regarded as a Tesla rival, is set to introduce 2-3 electric SUVs, starting with the much-anticipated VF e-34 crossover. This SUV, expected to make its mark in India, is likely to be imported via the Completely Built-Up (CBU) route, emphasizing VinFast’s commitment to delivering top-notch products.

A Glimpse into the Future: VF6 and VF7 Electric SUVs

The excitement doesn’t end with the VF e-34. VinFast has plans to bring its VF6 and VF7 electric SUVs to the Indian market, further diversifying its offering. With a commitment to cutting-edge technology and design, these SUVs are poised to redefine the Indian EV landscape.

Tamil Nadu’s Delight: A Testament to VinFast’s Capabilities

The enthusiasm from the Government of Tamil Nadu highlights the significance of VinFast’s decision to choose the state as its investment destination. Minister TRB Rajaa’s statement reflects the confidence in VinFast’s robust capabilities and unwavering commitment to a sustainable future.