Vietnam's VinFast to set up EV battery plant in Tamil Nadu
VinFast, the Vietnamese automotive company, is set to establish its first manufacturing facility in India, focusing on electric vehicle (EV) batteries. The plant will be located in Thoothukudi, Tamil Nadu, and will be dedicated to the production of batteries for electric vehicles. This development is separate from VinFast’s previously announced plans to assemble vehicles in India using parts shipped from Vietnam.
While the company has not officially commented on the matter, sources indicate that an official announcement from VinFast regarding the new plant in Tamil Nadu is expected in the coming days. VinFast, often considered a competitor to companies like Tesla and China’s BYD, has already initiated the hiring process for various roles in India, signaling its entry into the market.
The specific details, such as the size of the investment and the operational timeline of the Tamil Nadu plant, remain undisclosed. However, in October, VinFast revealed plans to establish assembly factories in both India and Indonesia, each with a capacity of up to 50,000 cars per year and an initial capital expenditure of up to $200 million. Production at these facilities is slated to commence in 2026.
VinFast’s expansion into India aligns with its broader strategy, and the company is reportedly open to introducing both electric scooters and electric cars in the Indian market. This move comes as several other EV players, including Ola Electric, Ather, and BYD, have already established a presence in Tamil Nadu, positioning the state as a hub for electric mobility in the country