VinFast, a leading Vietnamese electronic vehicle (EV) player, on Sunday, February 25, laid the foundation stone for its new integrated electric car manufacturing facility in Toothukudi, Tamil Nadu. The project will see an estimated investment of INR 16,000 Crore.
The upcoming EV factory will be developed in a phased manner at the SIPCOT Industrial Complex in Sillaanaththam over an anticipated 408 Acres of land parcel, with phase I being developed at approximately INR 4,000 Crore. The project is expected to be completed within 15 months and will create nearly 10,000 direct and indirect job opportunities. The upcoming facility will have a production capacity of 1.50 Lakh units annually.
Also Read: Tamil Nadu Budget 2024-25: Key Highlights & Major Infra Projects
Additionally, VinFast aims to establish a nationwide dealership network to build a strong brand presence and connect with customers across the country. The new facility aligns with the company’s zero-emission transportation future, setting the stage for economic growth, innovation, and environmental sustainability in the region, said Pham Sanh Chau, CEO of VinFast India.
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Disclaimer: The information contained herein has been compiled or arrived at, based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. The image featured in this article is for representation purposes only and does not in any way represent the project. If you wish the article to be removed or edited, please email editor@biltrax.com.
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