EV Manufacturer VinFast To set up EV Battery Plant in India By CIOTechOutlook Team

EV Manufacturer VinFast To set up EV Battery Plant in India

CIOTechOutlook Team | Thursday, 04 January 2024, 03:46 IST

VinFast, a Vietnamese electric vehicle company, is working to create its first manufacturing facility in India.

Three sources familiar with the matter, who were quoted in the report, said the facility of electric vehicle (EV) industry is slated to be situated in the southern state of Tamil Nadu, specifically in the city of Thoothukudi, as per indiatoday.

This manufacturing plant's main focus is believed to be the production of batteries for electric vehicles.It's worth noting that this endeavor differs from VinFast's previous ambitions, which included vehicle assembly utilizing parts delivered from Vietnam.

Despite competing with formidable automobile manufacturers such as Tesla and China's BYD, VinFast has chosen to keep the progress under wraps.

However, the corporation did issue a statement indicating that it would reveal full specifics of its plans at "an appropriate time."

Vingroup founded the company in 2017, and it participated in the 2018 Paris Motor Show with cars designed by Pininfarina, BMW, and Magna Steyr. VinFast claims to be Vietnam's first volume car manufacturer, as well as the country's first automaker to compete at a major international auto show.

Phm Nht Vng founded VinFast Auto Ltd., a Vietnam-based international automotive firm and one of the largest private enterprises in Vietnam.