ENA Sectors 2025-04-24 18:15:49 <p><span style="font-size:14px"><strong>Thoothukudi, Apr 24 (KNN) </strong>Vietnamese electric vehicle (EV) manufacturer VinFast is set to inaugurate its first Indian assembly plant in Thoothukudi, Tamil Nadu, by the end of June 2025. </span></p> <p><span style="font-size:14px">This move is part of the company's strategic shift towards Asian markets, including India, Indonesia, and the Philippines, following challenges in the U.S. market.​ </span></p> <p><span style="font-size:14px">The Thoothukudi facility, representing a USD 2 billion investment, will commence with an initial USD 500 million phase. Once operational, it aims to produce up to 150,000 vehicles annually. </span></p> <p><span style="font-size:14px">The plant will also encompass battery manufacturing and the development of charging infrastructure across India, with V-Green, a VinFast group company, seeking co-investors for this initiative.​ </span></p> <p><span style="font-size:14px">Thoothukudi was chosen for its proximity to seaports and airports, facilitating exports to markets in West Asia and Africa. The project is expected to generate approximately 3,000 3,500 local jobs.​</span></p> <p><span style="font-size:14px">At the Bharat Mobility Global Expo 2025, VinFast unveiled two all-electric premium SUVs, the VF 7 and VF 6, slated for launch in India later this year.</span></p> <p><span style="font-size:14px">This development coincides with Tesla's plans to enter the Indian market. The company has leased office space in Pune and initiated hiring for positions in Mumbai and Delhi. </span></p> <p><span style="font-size:14px">Tesla CEO Elon Musk has engaged in discussions with Indian Prime Minister Narendra Modi and announced intentions to visit India later this year.​</span></p> <p><span style="font-size:14px">VinFast's expansion into India underscores the country's growing significance in the global EV landscape, attracting major players aiming to establish a foothold in the region.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 41853 https://knnindia.co.in/news/newsdetails/sectors/vietnamese-carmaker-vinfast-sets-up-usd-2-billion-ev-plant-in-tamil-nadu 2025-04-24 18:15:49 knnindia.co.in