TL;DR
VinFast is investing $500 million to expand its Thoothukudi plant in India, aiming to boost EV production to 150,000 units annually and introduce electric two-wheelers by 2026.
Vietnamese EV manufacturer VinFast has announced a significant investment of $500 million to expand its manufacturing operations in Thoothukudi, Tamil Nadu, India. This second phase of investment will broaden the existing 400-acre facility to approximately 900 acres, incorporating specialized workshops and production lines for electric buses, e-scooters, and charging infrastructure.
The expansion aims to dramatically increase the plant's annual output from 50,000 to 150,000 vehicles, signaling VinFast's commitment to India's burgeoning EV market. The company also plans to introduce electric two-wheelers, starting with two scooter models by 2026, and expand its dealership network to 35 outlets by the end of the current year. This move is expected to create numerous job opportunities and foster localization within India's EV supply chain.
