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Discover how VinFast’s India plant is set to become a global EV export hub. Production begins mid-2025, fueling VinFast’s international expansion.
With the opening of its first production facility in India, Vietnamese electric vehicle (EV) maker VinFast is preparing for a major global expansion. The facility is expected to become a pillar of VinFast's international operations and is scheduled to start production by mid-2025, six months ahead of its initial schedule.
At first, the Tamil Nadu-based plant will generate 50,000 electric cars a year.
The plant will be a major hub for exporting automobiles to countries including the US, Canada, the Middle East, and Southeast Asia in addition to serving the Indian market.
As part of a $2 billion initiative to support India's EV industry, VinFast has pledged an initial investment of $500 million.
The plant will assemble Complete Knocked Down (CKD) parts, with production capacity scalable up to 300,000 vehicles per year, depending on market demand.
VinFast’s India venture aligns with its international ambitions, as highlighted during its Q3 2024 earnings call:
VinFast has 173 showrooms across the globe as of October 2024, and it just opened a dealership in Dubai to penetrate the Middle East market. In fifteen Indian locations, the business has obtained Letters of Intent with dealers. VinFast has strengthened its long-term commitment by increasing its permitted capital in India from ₹208 crore to ₹1,250 crore.
VinFast's aggressive strategy, which includes quicker production schedules and more funding, demonstrates its desire to take the lead in the worldwide EV industry. The Tamil Nadu facility is well-positioned to make a substantial contribution to the company's growth trajectory with a strong plan to access both domestic and foreign markets.
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