A strategic partnership between VinFast and the Tamil Nadu Government has been established since the signing of the Memorandum of Understanding (MoU) on 06/01/2024. VinFast commits to invest $500 million for phase 1 of the electric vehicle manufacturing plant project, which will be implemented in 5 years. This is a significant milestone in VinFast’s global expansion journey, marking the company’s strong progress in one of the world’s potential electric vehicle markets.
The location of Thoothukudi in Tamil Nadu and the position of Tamil Nadu in India (small image) – Source: Wikipedia
The official groundbreaking of the electric vehicle production facility just over a month after the announcement of the MoU with the State Government affirms VinFast’s strong determination and implementation speed in its global expansion plan.
VinFast’s Integrated Electric Vehicle Production Facility project in Tamil Nadu is expected to create about 3,000 to 3,500 jobs for the local labor market, demonstrating VinFast’s commitment to contribute to the sustainable development of the community.
With the vision of becoming a leading electric vehicle production center in the region, the factory project has a capacity of up to 150,000 electric vehicles per year when officially put into operation. This production facility not only meets the development goals of the Indian market but also serves the goal of exporting to countries in South Asia, the Middle East, and Africa.
