Vietnamese EV Maker Planning Battery Plant in India

The Vietnamese electric car manufacturer VinFast is planning to open its first Indian manufacturing plant in the southern state of Tamil Nadu, said three people familiar with the matter.

According to Reuters, the company will make batteries for EVs at the plant, which will be located in the city of Thoothukudi, said one of the sources.

Though VinFast declined a request for comment from Reuters, two of the sources said that an announcement on the new plant will come in the next few days. VinFast said that it would reveal more details on the project at “an appropriate time” on January 3.

At this time, VinFast has not revealed the size of its investment or when the factory will be operational.

“Several VinFast officials have visited Thoothukudi district in Tamil Nadu to check out sites,” said a senior official directly involved in the matter January 2.

VinFast said in October 2023 it would build assembly factories in India and Indonesia that each have an annual capacity of up to 50,000 cars and a capital expenditure of up to $200 million at first. The company added that production at those facilities is expected to begin in 2026.

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• Source: https://www.supplychainbrain.com/articles/38774-ev-maker-vinfast-planning-battery-plant-in-india