Latest Here You Know VinFast of Vietnam Will Establish an EV Battery Factory in India, According to Sources
According to one of the sources, the company will manufacture EV batteries at its Thoothukudi factory, in addition to its preliminary plans to assemble vehicles packed into the corridor from Vietnam.
VinFast, which competes with Tesla (TSLA.O) and BYD (002594.SZ) in China, declined to note. According to two sources, the company will make an advertisement about the new factory in the coming days.
VinFast said in a statement on Wednesday that details of its plans would be revealed at” an applicable time.”
A Tamil Nadu government prophet didn’t incontinently respond to a request for comment.
“Several VinFast officers have visited Thoothukudi quarter in Tamil Nadu to check out spots,” said a fourth source, an elderly functionary directly involved in the matter, on Tuesday.
According to Reuters, VinFast has begun hiring for deals, legal, and back office positions in India, looking for campaigners who” dare to suppose, dare to do, and dare to face difficulties.”
It’s unclear how much money will be invested or when a VinFast plant will be functional in Tamil Nadu.
It’s unclear when or if a VinFast plant will open in Tamil Nadu.
VinFast blazoned in October that it would make assembly shops in India and Indonesia, each with a capacity of over 50,000 buses per time and an original capital expenditure of over $200 million. It also stated that the product will begin in 2026.
Independently, Green SM, a maturity-possessed EV hack driver by VinFast’s author, intends to establish itself in India, the world’s third-largest automotive market, according to VinFast CEO Le Thi Thu Thuy in October.
According to the first source, VinFast is also interested in bringing scooters and cars to India.
Chennai, the capital megacity of Tamil Nadu, has been dubbed the” Detroit of Asia,” and other sections are formerly home to several EV players, including Indian two-wheeler manufacturers Ola Electric and Ather, as well as China’s BYD (002594. SZ).
