Vietnam Mega Auto Company to set up EV plant in Indian State

09 January 2024
GeoSpatial World

AI Generated Summary

Vietnam’s VinFast Auto is planning to establish an electric vehicle and battery manufacturing facility in Thouthukudi, Tamil Nadu, India.

The facility, which will have the capacity to produce 150,000 EVs in the first phase, could eventually cost up to $1 billion.

The company, which is based in Vietnam and is part of Vingroup, a major private conglomerate, has previously announced plans to build assembly factories in India and Indonesia with annual capacities of 50,000 cars each, each requiring an initial capital expenditure of up to $200 million.