Vietnam-based EV (electric vehicle) company VinFast will set up an EV battery manufacturing facility in Thoothukudi, Tamil Nadu. This will be the first manufacturing facility in India where VinFast will manufacture batteries for electric vehicles.

Tamil Nadu is already a hub for EV manufacturing in India, with players like Ola Electric and Ather Energy establishing their presence. VinFast's entry further strengthens the state's position as a leader in the EV sector.

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Having a local battery production facility will allow VinFast to be more competitive in the Indian EV market by reducing dependence on imported batteries.

VinFast stated that the company would reveal further details at an appropriate time. Vinfast has already started hiring for sales and legal back office jobs in India. VinFast stated in October that it would develop EV assembly factories in India and Indonesia.

The factories will have a production capacity of up to 50,000 cars per year. The initial capital expenditure for the project is around USD 200 million. The facilities are expected to commence operations by 2026.

About VinFast

VinFast is a Vietnamese multinational automotive company headquartered in Haiphong, Vietnam. VinFast, founded in 2017 by Vingroup, the largest private conglomerate in Vietnam, is one of the first car manufacturers in the country. The company produces electric vehicles (EVs), gasoline-powered cars and motorcycles, and e-buses.

VinFast is a rapidly growing company. In 2021, the company became the best-selling car manufacturer in Vietnam in all three segments it competes in. VinFast is a major player in the Vietnamese automotive industry. The company is also making a name for itself in the global electric vehicle market.

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