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| VinFast Begins Building EV Plant in Tamil Nadu |
Vietnam-based electric vehicle manufacturer VinFast Auto Ltd has initiated the construction of a cutting-edge integrated EV manufacturing facility in Thoothukudi, situated in southern Tamil Nadu. With a staggering investment of ₹4000 crore earmarked for the project over a span of 5 years, VinFast is poised to make significant strides in the Indian EV market.
The ground-breaking ceremony was graced by the esteemed presence of Chief Minister M K Stalin, along with State Ministers, government dignitaries, and top executives from VinFast. This event marks a pivotal moment in the collaboration between VinFast and the Tamil Nadu government.
Having recently inked an agreement with the state government, VinFast committed to a total investment of ₹16,000 crore, reflecting its long-term vision for the region. The decision to choose Tamil Nadu as the base for its EV manufacturing hub underscores the state's conducive environment, including its skilled workforce, progressive policies, and well-established EV ecosystem.
Occupying a sprawling 400-acre site within the Tamil Nadu Industrial Promotion Corporation (SIPCOT) industrial park in Thoothukudi, the new facility is anticipated to create employment opportunities for an estimated 3,000 to 3,500 individuals. With an envisaged annual production capacity of up to 150,000 units, the plant will focus on manufacturing electric cars and two-wheelers, catering not only to the domestic market but also to regions spanning South Asia, the Middle East, and Africa.
In addition to its manufacturing endeavors, VinFast is committed to establishing a robust nationwide dealer network to bolster its brand presence across diverse markets. To facilitate its entry into the Indian market, the company has appealed to the Central government for a temporary reduction in import duties on its EVs, a move akin to the requests made by other global EV giants such as Tesla.
While VinFast awaits a decision from the Union government regarding import duties, its steadfast commitment to innovation and sustainable mobility heralds a promising future for the EV landscape in India and beyond.