The
plan to expand into India aims to seize growth opportunities in the
world's most populous nation and rapidly expanding EV market. This
initiative forms a crucial part of VinFast's strategy to establish a
strong presence in key markets and strengthen its supply chain for
global expansion.
The
establishment of VinFast's integrated EV facility in Tamil Nadu is
anticipated to generate approximately 3,000-3,500 employment
opportunities locally. In addition to creating jobs and improving the
skills of the local workforce, VinFast remains dedicated to fostering
gender equality and offering career advancement opportunities for the
community.
Situated
in Thoothukudi, the VinFast Tamil Nadu project aims to evolve into a
first-class electric vehicle production hub in the region, with an
annual capacity of up to 150,000 units. Construction of the plant is
anticipated to begin in 2024. This project is set forth to lay a strong
foundation for economic growth in Tamil Nadu and India as a whole.
Besides
the economic benefits, the project will also pave the way for green
transportation development, targeting 30% of newly registered private
cars to be electric. This aligns with the state government's initiatives
to minimize carbon emissions in the transportation sector.
VinFast's green transportation development project is its third manufacturing project and the largest investment in Tamil Nadu's history. Considering the tangible economic and social benefits that are engendered due to the establishment of the project, the Tamil Nadu State Government also commits to providing cleared land for the manufacturing facilities, uninterrupted power supply, and other infrastructure support on a best-effort basis. Additionally, both parties will continue to collaborate and discuss opportunities for charging stations to steer toward a clean mobility future.
This investment decision in Tamil Nadu leads to mutual economic growth for both VinFast and the state, while also strengthening the Comprehensive Strategic Partnership between Vietnam and India.
In addition to building the manufacturing facilities in Tamil Nadu, VinFast also has intentions to inaugurate a nationwide dealership network. This approach is to establish a strong brand presence and swiftly connect with customers across the country.
