VinFast opens $500 million EV plant in Tamil Nadu
Vietnamese EV giant to invest Rs 16,000 crore over five years and is expected to generate 3,000 jobs in Tamil Nadu.
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Vietnamese electric vehicle (EV) maker VinFast has inaugurated its first manufacturing facility in India, in the southern city of Thoothukudi, a key milestone in its $2 billion investment plan and ambitious expansion across Asian markets.
Inaugurated by Tamil Nadu Chief Minister M.K. Stalin, this marks a major milestone in India’s EV journey and Tamil Nadu’s growing reputation as a global EV manufacturing hub.
VinFast, one of the fastest-growing EV makers globally, has committed an investment of Rs 16,000 crore (approximately $2 billion) for the plant over the next five years. The facility is expected to generate around 3,000 jobs in its first phase, boosting employment and industrial development in the southern state.
Speaking at the launch, the Minister reportedly said the plant aligns with Tamil Nadu’s EV policy and vision to lead in green mobility. The project is a result of proactive state support and will contribute to the state’s ambitions of becoming a trillion-dollar economy by 2030.
VinFast had earlier signed an MoU with the Tamil Nadu government in January 2024. The company said the Thoothukudi facility will be a critical piece of its global expansion strategy, serving both domestic and export markets.
Spread across 408 acres at the SIPCOT industrial complex in Sillanatham in Thoothukudi district, the $500 million plant will initially have a production capacity of 50,000 vehicles per year, with the potential to reach 1,50,000 to meet future demand.
As per VinFast, the site was reportedly selected after evaluating 15 locations across six Indian states, drawn by Tamil Nadu’s robust infrastructure, skilled labor, and port access. This is critical for its ambitions to turn the facility into an export hub for South Asia, the Middle East, and Africa.
