Just 50 days after inking a deal with the Indian government, Vietnamese automaker VinFast is ready to officially break ground on a massive electric vehicle (EV) manufacturing facility in the southern state of Tamil Nadu.
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This US$500 million investment marks a major step for VinFast’s global ambitions. India’s booming EV market presents a strategic opportunity, and this factory aims to become a regional production hub, churning out up to 150,000 EVs annually.
The factory plans to export EVs to South Asia, the Middle East, and Africa.
The project is expected to generate 3,000 to 3,500 jobs.
Separately, VinFast has signed a Memorandum of Understanding (MoU) with three Indonesian clients to provide 600 EVs for their corporate fleets. Under the terms of the MoU, VinFast will provide 600 EVs to Jakarta-based firms PT. Energi Mandiri Bumi Pertiwi, PT. Sumber Amarta Jaya and PT. Teknologi Karya Digital Nusa Tbk.
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The first two EV models in A & B-SUV segments that are open for order and soon to be launched in the Indonesian market will serve the companies’ goal of expanding their respective corporate fleets and cultivating the growth potential of the local green mobility industry.
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