KEY HIGHLIGHTS
- Vietnam's EV maker VinFast started construction of its first factory in India
- The facility is located in TamilNadu
VinFast, the prominent Vietnamese electric vehicle company, has inaugurated the groundbreaking ceremony for its inaugural facility in India. The first stone for VinFast's EV manufacturing facility has been laid in the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) industrial estate, located in Tamil Nadu. Explore more details about VinFast below. Also, you can join our 91Wheels WhatsApp Group for the latest automotive updates.
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VinFast EV Manufacturing In India
The new VinFast electric vehicle manufacturing facility in Tamil Nadu covers an area of 400 acres and is capable of producing 150,000 vehicles per year. The brand has committed a total investment of Rs. 4,165 crore over the span of five years. Localization will be a key focus of this facility. It will create job opportunities for over 3,500 locals.
VinFast has also strategized to establish a nationwide dealership network in India, aiming to expand its footprint across the country. While the brand has not yet announced any specific models for the Indian market, it is anticipated to introduce some of its models there. Potential models could include the VF6 and VF7 EVs, though the exact launch timeline remains unclear at present. However, with the brand's investment in India, it's reasonable to anticipate a product announcement for the Indian market soon.
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Verdict
The strategic investment made by the Vietnamese EV manufacturer in India will bolster the presence of international manufacturers in the Indian market. VinFast's modern and feature-rich EVs are poised to enter India's competitive EV market soon, where other international EV manufacturers are eyeing entry, alongside several Indian manufacturers that are already performing strongly.
