Vietnam’s VinFast Auto is setting up an electric vehicle (EV) and battery manufacturing facility in the Indian State of Tamil Nadu, Thoothukudi, which will have the capacity to produce 150,000 EVs in the first phase as reported by Economic Times.
The total investment in the 400-acre facility could eventually touch $1 billion as reported by ET.
VinFast Auto Ltd. is a Vietnam-based multinational automotive company founded by Vingroup, one of the largest private conglomerates in Vietnam that was founded by Pham Nhat Vuong.
Last year the company said that it would build assembly factories in India and Indonesia with annual capacities of 50,000 cars each, entailing an initial capital expenditure of up to $200 million.
