(Hanoi/New Delhi Comprehensive News) Vietnam’s largest electric vehicle manufacturer, VinFast, has announced it will invest an additional $500 million in India to expand the production capacity of its local factory, including electric buses, electric motorcycles, and charging infrastructure, to support the company’s development plans.
On Thursday (December 4), VinFast signed a memorandum of understanding with the government of Tamil Nadu in southern India, receiving an allocation of approximately 200 hectares of land from the government for factory expansion. According to the memorandum, the Tamil Nadu government will assist with approval procedures and ensure seamless coordination of infrastructure such as electricity, water supply, park transportation, drainage, and waste treatment. VinFast pledged to build dedicated workshops and production lines focused on electric bus and electric motorcycle manufacturing.
VinFast’s factory in Thoothukudi started operations in July this year, covering 160 hectares and equipped with international standard production lines. Its initial annual capacity is 50,000 electric vehicles. The company plans to increase capacity to 150,000 units within a year and double it again over the next three years.
Tamil Nadu’s Minister of Industries, Rajaa, stated that this cooperation will inject new momentum into the region’s and India’s overall green transportation strategy.