VinFast electric vehicle manufacturing complex in Hai Phong city. (Photo: VNA)This move represents a significant step towards astrategic partnership between VinFast and Tamil Nadu, contributing to promotingthe development of green transportation in India and the region.
The partnership between VinFast and Tamil Nadu began followingthe signing of a Memorandum of Understanding (MoU) on January 6. Thecollaboration aims toward an intended commitment of 500 million USD for thefirst phase of the integrated EV facility, spanning five years from thecommencement date. This is a significant milestone in VinFast's globalexpansion strategy of venturing into one of the world's fastest growing majoreconomies and its burgeoning EV market.
The groundbreaking ceremony of the EV manufacturingplant just over a month after the announcement of the MoU with Tamil Nadu affirmsVinFast's strong determination and roll-out speed in its global expansion plan.
The integrated EV manufacturing facility is projectedto generate about 3,000 to 3,500 local job opportunities. It not only caters to development objectives in the Indian market, but also serves exports toSouth Asian, Middle Eastern and African countries.
Additionally, the project will catalyse greentransportation development in India, contributing to materialising the Indiangovernment’s target of having 30% of newly registered private cars being electric./.
VNA
