VinFast Accelerates Construction of New Electric Vehicle Plant in Tamil Nadu, India

Views: 0

VinFast to launch its first electric SUV in India in April 2024 | Team-BHP

Vietnamese electric vehicle manufacturer, VinFast, is speeding up the development of its upcoming production facility in Tamil Nadu, India. Originally scheduled to commence operations in the latter half of 2025, the plant’s launch has now been moved up by six months to the first half of that year.

This new plant, located in the SIPCOT industrial estate in Thoothukudi (formerly Tuticorin), will be VinFast’s third manufacturing site globally and its second outside of Vietnam. The facility is expected to have an annual production capacity of 150,000 electric vehicles and generate employment opportunities for up to 3,500 people.

VinFast’s CEO, Pham Nhat Vuong, has outlined ambitious plans to expand the company’s presence across Asian markets. In addition to the Tamil Nadu project, the automaker is also set to begin construction on a new plant in Indonesia soon.

The Vietnamese EV maker’s rapid progress in India, moving from a memorandum of understanding to the start of construction within just two months, underscores its determination to grow quickly. VinFast aims to capitalize on India’s large and fast-growing automobile market, using the country as a production base to export electric vehicles to South Asia, the Middle East, and Africa.

Speed has been a hallmark of VinFast’s approach. In Vietnam, the company built a sizable manufacturing facility near Hai Phong in just 21 months. It is replicating this rapid construction timeline for its upcoming North Carolina plant in the United States, where production is slated to commence in 2025.

For its Indian debut, VinFast plans to introduce two electric models – the VF e34 SUV and the VF 5 crossover – before transitioning to local manufacturing. The company will also work to establish a network of dealerships and charging infrastructure across the country.

The strategic location of the Tamil Nadu plant near the Thoothukudi Port, combined with India’s robust automotive component industry, positions VinFast favorably for both domestic sales and exports. By setting up operations in the southern state, the company aims to leverage India’s market potential and manufacturing capabilities to drive its global growth aspirations.

 

Leave a Reply

Your email address will not be published. Required fields are marked *