VinFast, Vietnam’s leading electric vehicle (EV) manufacturer, and the Tamil Nadu State Government announce a landmark partnership in a Memorandum of Understanding (MoU) to invest US $2 billion in establishing an integrated electric vehicle facility in Tamil Nadu.

VinFast and Tamil Nadu government will work toward a total investment of up to US $2 billion, with an intended commitment of US $500 million for the first phase of the project, spanning five years from the commencement date.

This move indicates a significant step in VinFast's expansion into the world's third-largest vehicle market.

The establishment of VinFast's integrated electric vehicle facility in Tamil Nadu is anticipated to generate approximately 3,000 - 3,500 employment opportunities locally. In addition to creating jobs and improving the skills of the local workforce, VinFast remains dedicated to fostering gender equality and offering career advancement opportunities for the community.

Situated in Thoothukudi, the VinFast Tamil Nadu project aims to evolve into a first-class electric vehicle production hub in the region, with an annual capacity of up to 150,000 units. Construction of the plant is anticipated to begin in 2024. This project is set forth to lay a strong foundation for economic growth in Tamil Nadu and India as a whole.

Tran Mai Hoa, Deputy CEO of Sales and Marketing, VinFast Global said, “The MoU demonstrates VinFast's strong commitment to the sustainable development and vision of a zero-emission transportation future. We believe that investing in Tamil Nadu will not only bring considerable economic benefits to both parties, but will also help accelerate the green energy transition in India and the region.”

Dr. T. R. B. Rajaa, Minister of Industries of the Government of Tamil Nadu said, “EV manufacturing companies are not only important economic drivers but also powerful accelerators to the state’s green vision. We are delighted that VinFast has chosen to invest in Tamil Nadu to establish its integrated EV facility. Possessing robust capabilities and unwavering commitment to a sustainable future, I believe that VinFast will emerge as a reliable economic partner and substantial contributor to Tamil Nadu’s long-term development.”

In addition to building the manufacturing facilities in Tamil Nadu, VinFast also has intentions to inaugurate a nationwide dealership network. This approach is to establish a strong brand presence and swiftly connect with customers across the country.