The Vietnamese Auto Manufacturer, launched their Lux A2.0 Sedan, S2.0 SUV - gasoline models in the Paris Motor Show 2018. Later in 2021 they launched the E-Scooter and E-Bus, slowly showing their change to EVs later announced their end of Gasoline Era in 2022.
Entering into the EVs, the VF8 and VF9 was launched in the North America and European market in 2023 marked their attention to completely switch to EV as Europe was moving very fast towards the No Gasoline after 2030.
Today, the Hon’ble Tamil Nadu Chief Minister Stalin laid the Foundation Stone at the Ground-breaking Ceremony of VinFast India Manufacturing Plant at Thoothukudi, Tamil Nadu which is less than a month since the MOU has been signed. He mentioned that the government was very supportive to achieve this so fast. This project spans 400acres within the State Industrial Promotion Corporation of Tamil Nadu (SIPCOT) industrial area.
When the BM Correspondent met with the CEO he said “Today marks a significant milestone as we transition from fossil fuel to the area of electric vehicles.” The ground-breaking VinFast EV facility in Tamil Nadu will create thousands of jobs and improve technical skills for our workforce in Tamil Nadu. This project will not only expand VinFast's global presence but will also significantly boost the local economy. Out of an overall investment of 16000 crores, in this phase a 4000 thousand crores investment will result in 10,000 employment openings for educated individuals in the backward districts of Tamil Nadu.
After a lot of survey from the team, VinFast has chosen Thoothukudi for their manufacturing plant as they can have better access to both Air and Sea routes. The CEO also said that he loves the people here as 60-70% of the team working at their headquarters are Tamil speaking natives who are very talented and the people who get job here will be trained for their roles. The EVs manufactured here will be sold in India and as well as exported to Africa, Middle East and also to other parts of the world.
The CEO added that it has already proposed a two-year reduction in the import duty, bringing it down to at least 70-80% for a select number of cars. This, according to the company, is until customers get familiar with the brand. He also mentioned that all their cars come under the premium segment with 5stars. The CEO mentioned that the following three points will make people choose VinFast in India - affordable price point, high quality premium feel and excellent after sales in terms of warranty, maintenance and etc.
At this plant, the company intends to manufacture over 1.5 lakh vehicles annually and within next year they expect the first production unit to come out, said the CEO. Fingers crossed and looking forward towards a great initiative by our Hon’ble Tamil Nadu Chief Minister Stalin and VinFast India.