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VinGroup to Invest USD 6.5 Bn in Maharashtra Across Urban Development, EV and Renewable Energy

Vietnam-based conglomerate VinGroup has signed an MoU with the Maharashtra Government to invest about USD 6.5 billion in Maharashtra over the next two years across urban development, tourism, electric mobility and the renewable energy sector.

April 10, 2026. By Mrinmoy Dey

Vietnam-based conglomerate VinGroup intends to invest USD 6.5 billion (approximately INR 60,000 crore) in Maharashtra across key sectors, including urban development, renewable energy, electric mobility and tourism, over the next two years.

Maharashtra CM Devendra Fadnavis recently presided over the MoU signing and exchange between the Government of Maharashtra (Industries Department), Mumbai Metropolitan Region Development Authority (MMRDA) and VinGroup.

“A significant investment of approximately USD 6.5 billion will be made in Maharashtra by VinGroup Joint Stock Company across key sectors, including sustainable urban development, industrial and tourism growth, renewable energy capacity, smart residential townships and electric mobility over the next two years, with projects to be developed across nearly 5,000 acres. These projects will be implemented across the Mumbai Metropolitan Region as well as other key locations in the state,” stated Fadnavis.

A key component of the MoU is the development of a 1,000-hectare integrated township, envisioned as a world-class urban hub combining residential, retail, and recreational infrastructure. On the tourism front, the partnership will be for strategic research for high-end hospitality and world-class amusement park experiences through Vinpearl.

The CM added, “VinGroup will strengthen social and public infrastructure by establishing world-class educational institutions, developing multi-speciality hospitals and an EV charging network. This MoU will unlock new opportunities in the tourism sector, with an international-standard theme park, zoo, and safari project proposed over approximately 865 acres.”

In the mobility segment, VinGroup will deploy 60,000 electric vehicles through its platform GSM India, backed by an investment of around USD 1.5 billion, alongside the development of a supporting EV charging network. Additionally, large-scale renewable energy initiatives will be explored through VinEnergo to support India’s net-zero ambitions.

Pham Sanh Chau, CEO of Vingroup Asia, said, “The signing of this MOU with Maharashtra marks another step in the well-defined and long-term strategy of Vingroup in India. Following Telangana and Tamil Nadu, we are progressively expanding our presence in key economic hubs, with the goal of building a fully integrated multi-sector ecosystem spanning urban development, service infrastructure, electric mobility, and green energy. We look forward to partnering with forward-looking localities to deliver meaningful socio-economic value for communities.”

In India, Vingroup has established cooperation agreements with the States of Telangana and Tamil Nadu to facilitate the exploration of multi-sector investment opportunities. In parallel, VinFast, the Group’s global electric vehicle brand, is expanding its footprint through the development of a comprehensive EV ecosystem.

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Vingroup MoU with Maharashtra government

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