VinFast Starts Construction of EV Plant in Tamil Nadu, India

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 market before expanding to exports.

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.

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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.

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.

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. For more information about the projects executed by VinFast, explore our database.

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