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VINFAST OFFICIALLY BREAKS GROUND ON ITS INTEGRATED ELECTRIC VEHICLE FACILITY IN INDIA

25-02-2024

Thoothukudi, Tamil Nadu, February 25, 2024 – VinFast, Vietnams leading electric vehicle manufacturer, officially broke ground on its first integrated electric vehicle (EV) manufacturing facility in the state of Tamil Nadu, India. This landmark project, creating employment opportunities for approximately 3,500 local residents, affirms VinFasts commitment to global green transportation.

The groundbreaking ceremony was graced by Thiru M. K. Stalin, Honorable Chief Minister of Tamil Nadu; Thiru Dr. T. R. B. Rajaa, Honorable Minister for Industries, Government of Tamil Nadu; Thiru V. Arun Roy IAS, Industries Secretary, Member of Parliament – Thoothukudi constituency; Ministers of state, MLAs (Members of Legislative Assembly of Tamil Nadu), senior representatives from the State government and the VinFast India leadership team.

Spanning 400 acres within the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) industrial estate, the electric vehicle facility boasts a total initial investment of $500 million over 5 years, with a projected capacity of 150,000 vehicles annually. This will create jobs for 3,000 to 3,500 local residents. While strengthening partnerships with world-leading suppliers, VinFast also plans to promote localization, contributing positively to local economic growth.

Mr. Pham Sanh Chau, CEO of VinFast India, commented on this historic milestone, stating: "VinFasts groundbreaking ceremony for its plant in Thoothukudi, Tamil Nadu, is a significant stride towards sustainable and green mobility in India. By establishing an integrated electric vehicle facility, the companys commitment to job creation, green transportation, and strategic partnerships solidifies VinFast’s position as a major player in the electric vehicle industry. This milestone strengthens the bonds between the robust economies of Vietnam and India, and underscores VinFasts dedication to a zero-emission transportation future, setting the stage for economic growth, innovation, and environmental sustainability in the region."

Honourable Minister Dr. T. R. B. Rajaa added,“VinFast’s entry into India reaffirms Tamil Nadu’s progressive industrial policies and its role as a global automotive innovation and manufacturing hub. Tamil Nadu will match VinFast’s ambitious growth plans in the country and is committed to making zero-emission mobility widely accessible. We believe the project will substantially contribute to the local economic advancement, job creation, and technical skill development of the people of Tamil Nadu.”

India represents a key market in VinFasts global expansion plan, capitalizing on the potential presented by this rapidly growing market. The project not only affirms VinFasts global reach but also joins the existing manufacturing complex in Vietnam and future plants in the U.S. and Indonesia, solidifying VinFasts global manufacturing ecosystem.

In addition to the manufacturing facilities, VinFast plans to establish a nationwide dealership network to build a strong brand presence and swiftly connect with customers across the country. VinFast is committed to providing the Indian market with premium quality products, competitive pricing, and outstanding after-sales services to make electric mobility widely accessible and strengthen the comprehensive strategic partnership between Vietnam and India.

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