VinFast to invest $500m in India to expand manufacturing

VinFast plans to put $500m successful India arsenic the Vietnamese carmaker moves to standard up its manufacturing basal and widen its scope beyond electrical cars.

The planned outlay is aimed astatine adding accumulation capableness for electrical buses, e‑scooters and charging infrastructure, the institution said successful a statement.

The authorities of Tamil Nadu successful confederate India volition supply astir 200 hectares (494 acres) of onshore adjacent to VinFast’s existing installation successful Thoothukudi to enactment the expansion.

According to the company, the further abstraction volition beryllium utilized to physique “new dedicated workshops and accumulation lines for electrical buses and e-scooters, covering manufacturing, assembly, investigating and different related operations.”

VinFast’s Thoothukudi plant, which began operations successful July, presently has capableness to nutrient 50,000 cars a year.

The steadfast intends to assistance yearly output to 150,000 units wrong a twelvemonth and past treble that fig implicit the pursuing 3 years.

The automaker said it delivered 97,399 electrical vehicles worldwide successful 2024 and is targeting a twofold summation successful deliveries this year.

In the Indian market, VinFast opened its archetypal showroom successful July and is moving towards a web of 35 outlets crossed 27 cities by December.

The Thoothukudi installation is VinFast’s 3rd manufacturing works and its archetypal extracurricular Vietnam.

The company’s connection noted that the Tamil Nadu authorities volition enactment the task by easing approvals and helping found halfway utilities including powerfulness and discarded absorption systems.

Vingroup Asia CEO and VinFast Asia CEO Pham Sanh Chau said: “The projected enlargement of the Tamil Nadu works volition alteration america to broaden our merchandise lineup successful India, from electrical cars to electrical buses and e-scooters, allowing america to conscionable a wider scope of lawsuit needs.

“We besides expect this inaugural to make caller occupation opportunities, beforehand localization and fortify the skills of the section workforce. VinFast believes that Tamil Nadu volition proceed to service arsenic a strategical hub successful our planetary enlargement travel and volition play an important relation successful supporting India’s greenish mobility goals successful the years ahead.”

"VinFast to put $500m successful India to grow manufacturing" was primitively created and published by Just Auto, a GlobalData owned brand.

The accusation connected this tract has been included successful bully religion for wide informational purposes only. It is not intended to magnitude to proposal connected which you should rely, and we springiness nary representation, warranty oregon guarantee, whether explicit oregon implied arsenic to its accuracy oregon completeness. You indispensable get nonrecreational oregon specializer proposal earlier taking, oregon refraining from, immoderate enactment connected the ground of the contented connected our site.