Vietnamese electric vehicle maker VinFast launched its first manufacturing facility in southern India on Monday, marking a key step in its expansion into the world’s third-largest auto market.
Vinfast plans to roll out cars to the showroom later this month, Pham Sanh Chau, CEO of VinFast Asia, told Reuters at the sidelines of the inauguration of its Indian plant in Thoothukudi.
Last year, VinFast and Tamil Nadu state agreed to work towards an investment of up to $2 billion, with an intended commitment of $500 million for the first five years. The plant is expected to have an annual production capacity of up to 150,000 vehicles.
Reuters
