Vietnamese automaker Vinfast is set to begin construction on a $500 million electric vehicle (EV) plant in Thoothukudi, Tamil Nadu, India, marking a major milestone in its expansion across Asia.
This new factory is a key component of Vinfast’s larger $2 billion investment plan focused on India and the broader Asian market. The initial production capacity of the plant will be 50,000 EVs per year, with plans to increase output to 150,000 vehicles annually in the future.
Strategically, the facility is located close to a major port in Tamil Nadu, one of India’s most industrialized states, enabling the plant to serve as an export hub for the region. This move reflects Vinfast’s dedication to harnessing the growing demand for electric vehicles across Asia, while also advancing India’s sustainable transportation initiatives.
Industry experts view this development as beneficial for:
- Local economies through job creation and investment
- The electric vehicle ecosystem by promoting EV adoption in the region
- Supporting India’s goal of enhancing sustainable mobility
Vinfast’s entry into India is expected to stimulate economic growth and contribute significantly to the emerging electric mobility market. For more updates, stay connected with Questiqa World News.
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