Vinfast breaks ground on EV facility in TN, to hire 3,500 local employees

Spanning 400 acres, the EV facility represents a significant investment of $500 million over five years. Vinfast aims to bolster local economic growth
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Vinfast
Vinfast has officially broke ground on its first integrated electric vehicle (EV) manufacturing facility in the state of Tamil Nadu
Vinfast
Vinfast has officially broke ground on its first integrated electric vehicle (EV) manufacturing facility in the state of Tamil Nadu

The Vietnamese EV (electric vehicle) maker, Vinfast has officially broke ground on its first integrated electric vehicle (EV) manufacturing facility in Tamil Nadu, India and has announced that the plant will hire approximately 3,500 local worker.

Spanning 400 acres within the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) industrial estate, the EV facility boasts a total initial investment of $500 million over five years, with a projected capacity of 150,000 vehicles annually. Furthermore, the company also aims to bolster local economic growth through the promotion of localization efforts.

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In addition to the manufacturing facilities, VinFast plans to establish a nationwide dealership network to build a strong brand presence and swiftly connect with customers across the country. VinFast is aims to provide the Indian market with premium quality products, competitive pricing, and after-sales services to make electric mobility widely accessible and strengthen the comprehensive strategic partnership between Vietnam and India.

Pham Sanh Chau, CEO, VinFast India, said that by establishing an integrated electric vehicle facility, the company's commitment to job creation, green transportation, and strategic partnerships solidifies VinFast’s position as a major player in the electric vehicle industry.

He added that the milestone strengthens the bonds between the robust economies of Vietnam and India, and underscores VinFast's dedication to a zero-emission transportation future, setting the stage for economic growth, innovation, and environmental sustainability in the region.

Dr. T. R. B. Rajaa, Honorable Minister for Industries, Government of Tamil Nadu, said that VinFast’s entry into India reaffirms Tamil Nadu’s progressive industrial policies and its role as a global automotive innovation and manufacturing hub. Tamil Nadu will match VinFast’s ambitious growth plans in the country and is committed to making zero-emission mobility widely accessible.

He said, "We believe the project will substantially contribute to the local economic advancement, job creation, and technical skill development of the people of Tamil Nadu."

Also Read : VinFast walks Tesla route in India, seeks import duty cut for electric cars

Vinfast had previously requested a temporary reduction in import duties on its cars from the Indian government, aiming to ease customer acceptance until its local manufacturing plant becomes operational. This approach mirrors the strategy employed by Tesla, the American EV giant, which also sought a duty reduction but was denied by the Indian government.

First Published Date: 26 Feb 2024, 09:43 AM IST
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