VinFast gears up to break ground for an integrated EV facility in Tamil Nadu

Vietnam's leading electric auto manufacturer, VinFast, has announced that will break ground for its integrated electric vehicle manufacturing facility in Thoothukudi City, Tamil Nadu on Sunday, February 25.

Just over a month ago, VinFast signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu, India, to build an EV manufacturing plant with a capacity of up to 150,000 electric vehicles per year to advance green transportation in India and the broader region.

"The collaboration aims toward an intended commitment of $500 million for the first phase of the integrated EV facility, spanning five years from the commencement date," VinFast said in a statement.

"This move is a significant milestone in VinFast's global expansion strategy of venturing into one of the world's fastest-growing major economies and its burgeoning EV market."

VinFast's Tamil Nadu facility will cater to development objectives in the Indian market and also serve export demands emerging from South Asia, the Middle East, and African nations.