Vietnamese automaker VinFast, despite facing challenges in the U.S., is making a major play to enter the EV game in full swing. VinFast has announced a new manufacturing plant being setup in India.
The investors will set up a new facility for producing electric vehicles in Thoothukudi, Tamil Nadu, with a total investment of USD 2 billion. This significant investment, marking the first phase of a larger project, aims to establish VinFast as a key player in the world’s third-largest car market and rapidly expanding EV sector.
Why India?
The answer lies in the country’s immense potential. With a booming population and a growing appetite for vehicles, India presents a lucrative opportunity for automakers. Additionally, the government’s push for electric vehicle adoption creates fertile ground for VinFast, known for its electric scooters and cars.
VinFast’s ambition extends beyond mere production. The company plans to establish a nationwide dealership network to ensure brand visibility and customer outreach. This comprehensive approach signifies a long-term commitment to the Indian market.
Production Facility
The project is expected to have a significant ripple effect on the Indian economy. The estimated $500 million investment in the first phase is likely to create thousands of jobs, boost local infrastructure development, and attract further foreign investment. Furthermore, VinFast’s expertise in EV technology could accelerate India’s transition towards a more sustainable automotive landscape.
Benefits To The UAE
With the manufacturing plant being setup in India and at a location where shipping is easily accessible, this could help VinFast export its electric cars. Car manufactured in India could be then shipped to the UAE joining the EV game in the country alongside Tesla and BYD; among other brands.
VinFast At GIMS Qatar 2023
VinFast premiered their electric cars in the Middle East at the GIMS Qatar 2023 motor show last year. The Vinfast VF6, VF7, VF8 and VF9 were showcased. The top-spec VF9 is an MPV that features a range of over 550km on a single charge. Read the linked article to know more about the VinFast electric cars.
VinFast Global’s Deputy CEO of Sales and Marketing, Tran Mai Hoa, said, “The new facility 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.”
Find used electric cars for sale in the UAE and new electric cars for sale in the UAE.
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