Vietnamese Electric-Vehicle Manufacturer Enters MOU With India

The memorandum of understanding between VinFast and the Tamil Nadu government is intended to “charge the development of green transportation in India,” according to VinFast.

A Vietnamese electric-vehicle manufacturer has partnered with the Indian state of Tamil Nadu to establish an EV facility in country.

The memorandum of understanding between VinFast and the Tamil Nadu government, announced in early January, is intended to “charge the development of green transportation in India,” according to VinFast.

VinFast
VinFast Lux A2.0 sedan car is showcased at the Paris Motor Show in 2018. (Photo: Adobe Stock/VanderWolf Images)

“The MOU demonstrates VinFast’s strong commitment to the sustainable development and vision of a zero-emission transportation future,” said Tran Mai Hoa, Deputy CEO of Sales and Marketing for VinFast Global. “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.”

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A total investment of $2 billion is expected, with $500 million for the first phase. The EV facility is projected to result in upwards of 3,500 jobs, according to VinFast.

“EV manufacturing companies are not only important economic drivers but also powerful accelerators to the state’s green vision,” said Dr. TRB Rajaa, Minister of Industries of the Government of Tamil Nadu. “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.”

The company expects construction to begin this year.

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