Vinfast: India will become the export center of Vinfast, new factory will be established here
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According to reports, about $200 million will be invested in this factory and its first phase is expected to be operational by mid-2025. VinFast is working towards setting up a complete ecosystem for electric vehicles in India. Under this, the company will also invest in its battery manufacturing and charging station network.
“V-Green”, another group company of Vinfast, will manufacture batteries under this project and plans to attract investors to develop charging infrastructure in India. This company is separate from Vinfast, but has the same founder as Pham Nhat Vuong.
The company plans to launch both these vehicles by the end of this year and aims to launch a total of seven electric vehicles in the market in the next few years.
Vinfast Asia Chief Executive Officer Pham San Chau said that the reason for choosing Thoothukudi is that the location is close to the port and airport, which will make exports easier. Vinfast currently has two factories in Vietnam with production capacities of 50,000 and 1 lakh vehicles per year respectively.
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The company has initially planned to invest $500 million for its production in India. Apart from this, Vinfast official said that they are also considering battery manufacturing in India, so that maximum localization can be done in vehicles.
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