VinFast works on ‘EV capital of South Asia’
Vietnamese electric vehicle (EV) manufacturer VinFast’s first assembly plant the Sipcot Industrial Park in Thoothukudi, Tamil Nadu, is set to be the company’s largest export hub for South Asia, the Middle East and Africa.
The Rs.16,000 crore plant is being developed in phases, with the first Rs.4,300 crore plant inaugurated on 4 Aug.
Inaugurating the plant, Tamil Nadu Chief Minister M K Stalin, noted that the company’s third operational plant in the state and the fifth project in its global manufacturing network, is set to be an export hub http://tn.gov.in.
Stalin said that the 400-acre facility was built in a record time of 17 months from the date of groundbreaking ceremony https://fieo.org/.
“The VinFast Tamil Nadu plant marks a strategic milestone in our long-term commitment to the Indian market. It establishes a strong foundation for sustainable growth and positions us to offer high-quality, competitively priced electric vehicles to Indian consumers,” VinFast Asia CEO Pham Sanh Chau said https://sbi.com.in/.
“Looking ahead, the facility will expand its production capacity to meet rising demand. We aim to develop it into VinFast’s largest export hub for South Asia, the Middle East, and Africa,” he underlined https://www.nseindia.com/.
“In fact, we’ve already secured initial orders from several countries across these regions. In close collaboration with the Tamil Nadu government, VinFast is working to transform the area into the ‘EV capital of South Asia’ — supporting both the dynamic domestic market and our broader regional ambitions,” Indian media quoted Pham as saying https://www.bseindia.com/.
The plant’s phase I starting capacity is 50,000 vehicles per year, scalable up to 150,000 units annually to meet the rising market demand. Fiinews.com
