Just 50 days after signing a deal with the Indian government, Vietnamese automaker VinFast is set to officially start construction on a large electric vehicle (EV) manufacturing facility in Tamil Nadu.
Also Read: Thinking out loud: Are electric vehicles as sustainable as we believe?
This $500 million investment is a significant move for VinFast’s global expansion. With India’s growing EV market, this factory aims to be a regional production center, producing up to 150,000 EVs per year.
The factory plans to export EVs to South Asia, the Middle East, and Africa.
The project is expected to create 3,000 to 3,500 jobs.
Additionally, VinFast has signed an MoU with three Indonesian clients to supply 600 EVs for their corporate fleets. The first two EV models in the A & B-SUV segments will soon be available in the Indonesian market to support the companies’ fleet expansion and the growth of the local green mobility industry.
Also Read: The growth of electric vehicles is saving the planet, one trip at a time
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The post VinFast to soon begin construction of $500M EV factory in India appeared first on e27.
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