VinFast's EV plant in India nears completion

The New Indian Express cited its sources from the Industries Department showing that VinFast's integrated EV manufacturing facility is 90 per cent complete and is expected to commence within the next two to three months.

Thoothukudi is quickly becoming as a prominent player in India's automotive sector, with the construction of VinFast's new plant nearing completion in the region.

"Thoothukudi is now emerging as the state’s fourth major auto-cluster after Chennai, Krishnagiri, and Coimbatore, further strengthening our position in the sector," said Industries Minister TRB Rajaa.

VinFast executives spoke earlier this week about the import of critical EV components. The discussions also included efforts to create shipping logistics and liner connectivity with Haiphong. This will make it easier to import key parts and export finished vehicles to markets in India and around the world.

According to industry insiders, VinFast wants to bring in 2,000 twenty-foot equivalent units of components to begin production in May, with an official inauguration of the factory scheduled for June. Initially, the company will concentrate on the home market before extending its exports internationally.

According to Guidance, Tamil Nadu's investment promotion agency, Thoothukudi is poised to become the state's next major hub for EV and battery production.

"The first phase will produce 150,000 units per year, with support from a supplier park that is now being developed. Thoothukudi's superior seaport link ensures speedier exports and higher efficiency. The undertaking is also expected to create 3,500 new jobs," Guidance noted.

On February 25, VinFast broke ground on its first integrated EV manufacturing facility in India. Spanning 400 acres within the State Industries Promotion Corporation of Tamil Nadu's industrial estate, the EV facility boasts a total initial investment of $500 million over five years, with a projected capacity of 150,000 vehicles annually.

India represents a key market in VinFast's global expansion plan, capitalising on the potential presented by this rapidly growing market. The future of EVs in India is promising, driven by strong governmental support, technological progress, and shifting consumer preferences.

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