Tamil Nadu Welcomes VinFast: A $500 Million (Rs 4,000+ Crores) Boost for Electric Vehicle Manufacturing
VinFast, Vietnam’s premier electric vehicle manufacturer, marked a historic moment today as it officially broke ground on its first integrated electric vehicle (EV) manufacturing facility in the state of Tamil Nadu, India. The ceremony, attended by esteemed dignitaries including Thiru M. K. Stalin, the Honorable Chief Minister of Tamil Nadu, signifies VinFast’s commitment to global green transportation.
VinFast’s Integrated EV Facility Takes Shape
The sprawling electric vehicle facility, spanning 400 acres within the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) industrial estate, is poised to make a substantial impact on the local economy. The $500 million investment over the next 5 years is expected to create approximately 3,500 employment opportunities for the local workforce, solidifying VinFast’s position as a major player in the electric vehicle industry.
Thiru M. K. Stalin, Chief Minister of Tamil Nadu, and Thiru Dr. T. R. B. Rajaa, Minister for Industries, Government of Tamil Nadu, graced the groundbreaking ceremony along with other senior government officials, including Thiru V. Arun Roy IAS, Industries Secretary, and Members of Parliament. The event showcased the collaborative efforts between the State government and VinFast India’s leadership team.
VinFast’s electric vehicle facility in Tamil Nadu is projected to have an annual production capacity of 150,000 vehicles, contributing significantly to the Indian EV market. The company aims to strengthen partnerships with global suppliers while focusing on promoting local manufacturing, aligning with the ‘Make in India’ initiative and fostering economic growth in the region.
Mr. Pham Sanh Chau, CEO of VinFast India, expressed his enthusiasm about the project, emphasizing its importance in advancing sustainable and green mobility in India. “VinFast’s groundbreaking ceremony for its plant in Thoothukudi is a significant stride towards a zero-emission transportation future, setting the stage for economic growth, innovation, and environmental sustainability in the region,” said Mr. Chau.
From Vietnam to India: VinFast’s Global Expansion Accelerates
Honourable Minister Dr. T. R. B. Rajaa highlighted the positive impact of VinFast’s entry into India on the state’s industrial landscape. “VinFast’s entry into India reaffirms Tamil Nadu’s progressive industrial policies and its role as a global automotive innovation and manufacturing hub,” said Dr. Rajaa. “We believe the project will substantially contribute to local economic advancement, job creation, and technical skill development in Tamil Nadu.”
India plays a crucial role in VinFast’s global expansion strategy, with the Indian market being a key focus. The new facility in Tamil Nadu complements VinFast’s existing manufacturing complex in Vietnam and future plants planned in the U.S. and Indonesia, establishing a robust global manufacturing ecosystem.
In addition to the manufacturing facilities, VinFast aims to establish a nationwide dealership network to build a strong brand presence and connect with customers across the country. The company is committed to providing the Indian market with premium quality electric vehicles, competitive pricing, and exceptional after-sales services.
VinFast, a member of Vingroup, envisions leading the global smart electric vehicle revolution, and this groundbreaking ceremony in Tamil Nadu marks a significant step towards realizing that vision. The company’s commitment to sustainability, innovation, and global partnerships positions VinFast as a key player in shaping the future of smart mobility for a sustainable planet.
Source: Electric - rushlane.com
