VinFast officially broke ground on its first integrated electric vehicle (EV) manufacturing facility in the state of Tamil Nadu, India. Spanning 400 acres within the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) industrial estate, the electric vehicle facility boasts a total initial investment of $500 million over 5 years, with a projected capacity of 150,000 vehicles annually. This will create jobs for 3,000 to 3,500 local people. While strengthening partnerships with world-leading suppliers, VinFast also plans to promote localisation, contributing positively to local economic growth.
VinFast began operations in Vietnam in 2017 and produces a line of EVs in various capacities and sizes. The list includes the VF3 hatchback, VF6, VF8 and VF9 three-row vehicles. We expect VinFast to take a top-down approach and start operations with the VF8 and VF9 with the VF6 expected to arrive at a later date. It will start operations in early 2025 with the first cars going on sale by the middle of 2025.
