ByIan Sayson,
Forbes Staff.
VinFast—controlled by Vietnam’s richest person Pham Nhat Vuong—is spending $500 million to triple its EV manufacturing capacity in India within a few years.
The expansion will also enable the company’s existing factory in the southern Indian state of Tamil Nadu to produce electric buses, e-scooters and charging infrastructure, New York-listed VinFast said in a statement. The facility, which started producing electric cars in August, is Vinfast’s first overseas plant.
“The proposed expansion of the Tamil Nadu plant will enable us to broaden our product lineup in India, allowing us to meet a wider range of customer needs,” Pham Sanh Chau, CEO of VinFast Asia, said in the statement. “VinFast believes that Tamil Nadu will continue to serve as a strategic hub in our global expansion journey and will play an important role in supporting India’s green mobility goals.”
