According to three sources with knowledge of the situation, VinFast, a Vietnamese manufacturer of electric vehicles, plans to establish its first production plant in Tamil Nadu, southern India, where it will produce batteries.
One of the persons stated that the company’s previously announced plans to assemble automobiles sent in parts from Vietnam were not related to the fact that it will manufacture batteries for EVs at the Thoothukudi factory.
VinFast, a competitor of Chinese automakers BYD and Tesla, did not respond to requests for comment. According to two sources, the business will likely announce the new plant in the next few days.
In a statement released on Wednesday, the company stated that the company would provide more information about its plans at “an appropriate time”. An inquiry for comment was not immediately answered by a representative for the Tamil Nadu administration. As to a fourth source who is a senior official directly involved in the case, “Several VinFast officials have visited Thoothukudi district in Tamil Nadu to check out sites,” on Tuesday.
According to a September Reuters story, the company started hiring in India for positions in sales, law, and back office, looking for those who “dare to think, dare to do, and dare to face difficulties.”
Current update on the VinFast factory
The extent of the investment and the anticipated date of the Tamil Nadu VinFast factory’s opening are currently unknown. In October, VinFast announced that it would construct assembly plants in Indonesia and India, each capable of producing up to 50,000 cars annually and requiring an initial capital investment of up to $200 million. It also stated that production will start in 2026.
In addition, VinFast CEO Le Thi Thu Thuy told Reuters in October that Green SM, an EV taxi company primarily owned by VinFast’s founder, intends to open in India, the third-largest automobile market in the world.
The initial source stated that VinFast is willing to introduce e-cars and e-scooters to India. Several EV companies, notably Chinese BYD and Indian two-wheeler manufacturers Ola Electric and Ather, are already present in Chennai, the capital of Tamil Nadu and known as the Detroit of Asia, and other surrounding regions.
