VinFast to build car factory in India
Reuters has learned about the plant plans from three people familiar with the plan. According to the insiders, VinFast’s battery plant is to be built in the city of Thoothukudi in the southern Indian state of Tamil Nadu. Information on the amount of the investment and the schedule is not yet available.
As reported, VinFast also wants to produce electric cars in Indonesia from 2026. Construction of a factory in the USA is also already underway. According to Reuters, VinFast is also planning an electric car plant in India. As production ramped up, the company also managed to deliver its 10,000th vehicle in October.
VinFast has been expanding production capacities at home and abroad steadily, and was practically “given” a battery manufacturer in October, as the parent company VinGroup restructured and turned VinES into a subsidiary for the automaker. In the same month, the Vietnamese EV manufacturer also revealed its plans to construct factories in India and Indonesia, with a capacity of up to 50,000 cars per year and capital expenditure of up to $200 million initially.
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