VinFast, Vietnam’s leading electric vehicle manufacturer, is looking to set up an EV and battery manufacturing plant in Andhra Pradesh as well after starting construction of its factory in Tamil Nadu.
Pham Sanh Chau, CEO of VinFast India, recently met with N. Chandrababu Naidu, chief minister of Andhra Pradesh, and proposed an investment of INR 4,000 crore ($478.65 million) into setting up EV and battery plants in the state. Andhra Pradesh chief minister has instructed the industries department to facilitate VinFast team’s visit to suitable land parcels in the state.
VinFast follows the strategy of derisking supply chain by setting up vertically integrated on-site manufacturing with fully integrated cell and pack.
In February this year, VinFast broke ground on its integrated EV manufacturing facility in the state of Tamil Nadu. This project is estimated to create employment opportunities for around 3,500 local residents. Spanning 400 acres within the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) industrial estate, the electric vehicle facility will be built with a total initial investment of $500 million over 5 years, with a projected capacity of 150,000 vehicles annually.
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