In a charged move that’s energizing Tamil Nadu’s green ambitions, VinFast Auto, Vietnam’s trailblazing electric vehicle (EV) manufacturer, is all set to dig into its new integrated EV manufacturing site in Thoothukudi City, Tamil Nadu. Scheduled for February 25, 2024, this groundbreaking event is more than just a ceremonial dig – it’s a concrete step towards electrifying India’s transportation landscape.
This electrifying venture, kick-started by a Memorandum of Understanding inked on January 6, 2024, between VinFast and the Tamil Nadu Government, is a USD 500 million drive into the future. Over the next five years, VinFast’s global expansion will plug into one of the world’s fastest-growing major economies and its surging EV market.
Just over a month post-MoU announcement, VinFast is not just revving up its engines but is also putting the pedal to the metal in its global expansion race. This Tamil Nadu project is more than just an assembly line; it’s a job-creating powerhouse, expected to generate 3,000 to 3,500 local jobs, thereby turbocharging the State’s socio-economic growth.
Aiming to be a regional leader, the VinFast Tamil Nadu hub is gearing up to roll out up to 150,000 units annually at full capacity. This facility isn’t just catering to India’s EV appetite; it’s also set to be a major exporter to South Asian, Middle Eastern, and African markets.
This project aligns with the Indian Government’s green gears, driving towards 30% of newly registered private cars being electric, and curbing carbon emissions in the transport sector.
VinFast’s entry into Tamil Nadu is more than just a business expansion; it’s a commitment to a sustainable future, accelerating India’s journey into an electrified, eco-friendly tomorrow. With a battery of innovations and a charged vision, VinFast is steering not just towards being a global EV leader but also towards a greener, cleaner planet.
