Call +1(917) 993 7467 or connect with one of our experts to get full access to the most comprehensive and verified construction projects happening in your area. Close Section

News_Release

VinFast Starts Construction of EV Plant in Tamil Nadu, India

Last Updated on 15th July 2024

The Vietnamese car manufacturer VinFast broke ground on its integrated electric vehicle manufacturing unit in Thoothukudi, Tamil Nadu. The EV manufacturing facility spans 408 acres in the SIPCOT Industrial Complex at Sillaanaththam, near Thoothukudi. The company anticipates a production capacity of 150,000 vehicles annually and expects the facility to create around 3,000–3,500 jobs. VinFast aims to commence production by mid-2025, initially targeting the domestic Indian EV market before expanding to exports.

 

VinFast Starts Construction of EV Plant in Tamil Nadu, India

 

Several dignitaries, including the VinFast India leadership team and Tamil Nadu Chief Minister MK Stalin, attended the facility's groundbreaking ceremony. VinFast India CEO Pham Sanh Chau stated that this milestone strengthens the bonds between the robust economies of Vietnam and India and underscores VinFast’s dedication to a zero-emission transportation future.

 

Find Battery Manufacturing Projects and Tenders in IndiaGet Started Now!

 

The facility will complement VinFast’s manufacturing network, which includes its complex in Vietnam and future plants in the US and Indonesia. The Indian market is a key focus of VinFast’s strategy to extend its reach and influence in the EV sector. To further learn about VinFast's upcoming and ongoing projects, check out our EV manufacturing projects database.

 

The commencement of construction of the VinFast EV manufacturing facility marks a significant stride towards sustainable and green mobility in India. It sets the stage for economic growth, innovation, and environmental sustainability in the region.


Project Cost

The project cost for VinFast's EV plant in Tamil Nadu is outlined in two ways:

 

Initial investment

VinFast has committed an initial investment of USD 500 million (approximately INR 4,144 crore) over the next five years. This covers the first phase of construction and aims to lay the foundation for further development.

 

Total investment potential

While the initial investment focuses on the first five years, the project holds the potential for a total investment of up to USD 2 billion (approximately INR 16,577 crore). This signifies VinFast's long-term commitment to the Indian market and its vision for the plant to become a major EV production hub.

 


Read: Odisha Government Approves JSW’s Proposal to Set Up 5 Billion EV Manufacturing Units


Objectives and Background of the Project

VinFast aims to establish a strong foothold in the rapidly growing Indian EV market, currently the world's third-largest automobile market. This aligns with their global expansion strategy, targeting major economies with significant growth potential.

 

The project aims to develop a first-class electric vehicle production hub in Tamil Nadu, capable of catering to the Indian market and serving as an export base for South Asian, Middle Eastern, and African countries. This aligns with India's goals to become a global manufacturing hub for EVs.

 


Read: BYD Announces $1.3 Billion Investment to Build an EV Manufacturing Facility in Indonesia


About VinFast

VinFast, established in 2017, is a Vietnamese multinational automotive company headquartered in Haiphong, Vietnam. It's a subsidiary of Vingroup, one of the largest private conglomerates in Vietnam. They offer a range of electric cars, electric motorbikes, and electric buses, contributing to Vietnam's and the world's transition towards sustainable transportation. 

 

VinFast is known for its commitment to innovation and collaboration. They partnered with leading global companies like Pininfarina, BMW, and Magna Steyr to design their initial vehicle models, demonstrating their pursuit of quality and cutting-edge technology.

 

VinFast established itself in North America (North Carolina, USA) and now, India, showcasing their ambitious global aspirations. VinFast plays a pivotal role in the global electric vehicles Market

 


Read: Andhra Pradesh CM Invites VinFast to Set up EV Manufacturing Plant in the State


Discover the Latest  Battery Manufacturing Plant Projects with Ease

Are you looking for a platform that gives you reliable, high-quality, and timely project insights for the latest Battery Manufacturing Plant Projects in India?

 

Discover the Global Project Tracking (GPT) platform by Blackridge Research, designed to provide you with the most recent updates regarding Battery Manufacturing Plant Projects in India and faster across various stages of development:

  • Upcoming projects
  • Tender Notices
  • Contract award announcements
  • Projects in progress or under construction
  • Successfully completed projects.

 

The user-friendly interface helps you obtain early-stage awareness of projects and find the right business opportunity quickly.

 

With its user-friendly interface, this platform empowers you to gain early-stage awareness of projects and swiftly identify the right business opportunities.

 

Each project will have all the essential details, such as scope, capacity, CapEx, status, project description, companies involved, funding information, location, periodic updates, important event dates like construction start date, commissioning dates, and key contact information of project owners and stakeholders.

 

The database is a vital resource for a wide range of entities, including energy storage companies, battery companies, facility operation and maintenance (O&M) companies, consulting and advisory firms, investors, investment firms, project finance agencies, research and development organizations, regulatory bodies, and law firms.


Book a Free demo to learn more about the Battery Manufacturing Projects and Tenders database and how we can help you achieve your goals

How can we help
you today?

CONTACT AN EXPERT