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VinFast to Open EV Battery Plant in India as Part of Global Expansion Plans

The plant, located in the southern state of Tamil Nadu, marks a significant step in VinFast's global expansion strategy.

January 06, 2024. By Abha Rustagi

VinFast, the Vietnamese electric vehicle (EV) manufacturer, is set to inaugurate its initial manufacturing facility in India, focusing primarily on battery production for electric vehicles.

The plant, located in the southern state of Tamil Nadu, marks a significant step in VinFast's global expansion strategy. VinFast has hinted at unveiling detailed plans for the new facility in Thoothukudi, Tamil Nadu, at an 'appropriate time.'

According to the sources, the manufacturing initiative in Tamil Nadu is distinct from VinFast's previous announcements about assembling vehicles using parts shipped from Vietnam. The company's foray into battery production aligns with the growing emphasis on sustainable energy solutions.

VinFast is expected to make a formal announcement about the new plant in the coming days. Senior officials from VinFast have reportedly visited Thoothukudi district to assess potential sites for the manufacturing facility.

This development comes on the heels of VinFast's recruitment drive in India, seeking talent for sales, legal, and back-office positions. The company's earlier declaration in October outlined plans to establish assembly factories in India and Indonesia, each capable of handling 50,000 units annually, with an initial capital expenditure of up to USD 200 million. Production at these facilities is slated to commence in 2026.

VinFast CEO Le Thi Thu Thuy also disclosed in October that Green SM, an EV taxi operator predominantly owned by VinFast's founder, has intentions to establish a presence in India.

The company is exploring opportunities to introduce both electric scooters and cars in the Indian market, further solidifying its commitment to sustainable mobility.

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