VinFast Invests US$ 2 Billion in Indian EV hub
VinFast Auto Ltd, a Vingroup electric vehicle manufacturer from Vietnam, has announced a substantial investment plan in India. An arrangement with the Tamil Nadu State Government allows the corporation to access the world’s third-largest vehicle market. VinFast will invest US$ 500 million to develop an integrated electric vehicle manufacturing plant in Tamil Nadu. US$2 billion in investments are estimated. The company plans to start building the factory soon to produce 150,000 units each year.
This strategic move supports the company’s global expansion strategy, which includes a US$2 billion manufacturing facility in North Carolina and an alleged factory project in Indonesia.