VinFast will build an EV factory in Tamil Nadu.
VinFast will build an EV
factory in Tamil Nadu.
Vietnam-based electric vehicle
manufacturer VinFast Auto Ltd began
constructing a new integrated EV manufacturing facility in Thoothukudi,
southern Tamil Nadu. The company plans to invest ₹4000 crore over five years
for this project.
Ground Breaking Ceremony:
The construction commenced as
State Chief Minister M K Stalin initiated the groundbreaking ceremony. The
event was attended by State Ministers, government officials, and VinFast's top
management.
Investment in Tamil Nadu:
Last month, VinFast signed an
agreement with the Tamil Nadu government to invest ₹16,000 crore over time. The
CEO of VinFast India stated that Tamil Nadu was chosen due to its skilled
workforce, progressive policies for the EV sector, and existing EV manufacturing
ecosystem.
Job Opportunities:
Spanning a 400-acre site at
the Tamil
Nadu Industrial Promotion Corporation's industrial park in Thoothukudi, the
new factory is expected to create employment for 3,000 to 3,500 individuals. It
aims to produce up to 150,000 units annually, focusing on electric cars and
two-wheelers.
Expansion Plans:
VinFast intends to establish a
nationwide dealer network and serve markets in South Asia, the Middle East, and
Africa.
Request for Import Duty Cut:
VinFast has appealed to the Central government for a temporary reduction in import duties on its EVs until it establishes its brand and commences factory operations. Similar requests have been made by Tesla, a leading global EV manufacturer. However, the Union government's decision on this matter is pending
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