VinFast to build integrated electric vehicle facility in Tamil Nadu, India

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TAMIL NADU, INDIA – Media OutReach Newswire – 6 January 2024 – VinFast, Vietnam’s leading electric vehicle (EV) manufacturer, and the Tamil Nadu State Government announce a landmark partnership in a Memorandum of Understanding (MoU) to charge the development of green transportation in India. VinFast and the State Government will work toward a total investment of up to USD 2 billion, with an intended commitment of USD 500 million for the first phase of the Project, spanning five years from the commencement date. This move indicates a significant step in VinFast’s expansion into the world’s third-largest vehicle market.

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 Government of Tamil Nadu 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.

​As Vietnam’s leading electric vehicle manufacturer with global aspirations, VinFast’s relentless dedication to innovation and research propels the Company towards its goal of being a global leader in the electric vehicle industry and its commitment to a sustainable future for all.

Hashtag: #VinFast

The issuer is solely responsible for the content of this announcement.

About VinFast

VinFast – a member of Vingroup – envisions driving the advancement of the global smart electric vehicle revolution. Established in 2017, VinFast owns a state-of-the-art automotive manufacturing complex with globally leading scalability that boasts up to 90 percent automation in Hai Phong, Vietnam.

Strongly committed to the mission of a sustainable future for everyone, VinFast constantly innovates to bring high-quality products, advanced smart services, seamless customer experiences, and pricing strategy for all to inspire global customers to jointly create a future of smart mobility for a sustainable planet. Learn more at: .