VinFast Sparks India Entry with EV Assembly Plant Ready to Roll by June

Vietnamese car maker VinFast is planning to commission its auto assembly facility at Thoothukudi in the state of Tamil Nadu by June 2025 as a prime component of its strategic shift into Asian markets. The $2 billion facility having an initial outlay of $500 million can be expected to have a production capacity of 150,000 vehicles in its first phase a year and address the local Indian market as well as West Asia and Africa. Production of electric vehicles will begin in 2026, while an EV ecosystem including battery manufacturing and charging stations will be built.

VinFast CEO Pham Nhat Vuong highlighted choosing Thoothukudi because of its closeness to seaport and airport, facilitating export. This follows setbacks in the US market and represents VinFast's resolve to tap growth in India and neighboring regions.

 

Sources: Reuters, Bloomberg, Business Standard