Vinfast has begun operations at a $500 million electric vehicle plant in Tamil Nadu, planning a total investment of $2 billion in India. The factory will produce 50,000 electric vehicles annually, with potential expansion to 150,000 units. Situated near a major port, it aims to be an export hub. This investment is expected to create over 3,000 local jobs and marks a strategic pivot to Asian markets as Vinfast enhances its manufacturing presence, focusing on potential collaborations in various sectors like green energy and tourism.
"This investment will lead to an entirely new industrial cluster in south Tamil Nadu, and more clusters is what India needs to emerge as a global manufacturing hub."
VinFast Asia CEO Pham Sanh Chau expressed aspirations to export cars across the region and hopes to turn the new factory into an export hub.
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