vinfast ground breaking india plant: VinFast’s ground-breaking to take place on February 25

Vietnam-based automotive company VinFast Auto Ltd will hold the ground-breaking ceremony for its $2-billion integrated electric vehicle (EV) manufacturing facility in Thoothukudi on February 25, people aware of the development told ET.

Last month, the company had confirmed its plan to start manufacturing EVs in India and had committed $500 million for the first phase of the project.

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Queries sent to VinFast remained unanswered as of press time Friday.

The total outlay will span five years from the commencement date, VinFast had said.

ET had reported that the EV and battery manufacturing facility is being built at a 400-acre facility. It is expected to have a capacity to produce 150,000 cars in the first phase and could employ around 3,500 people.

“We believe that investing in Tamil Nadu will not only bring considerable economic benefits to both parties, but will also help accelerate the green energy transition in India and the region,” Tran Mai Hoa, deputy CEO for sales and marketing at VinFast Global, had said at the time.

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The company had said that in addition to building the manufacturing facilities in Tamil Nadu, VinFast also intends to inaugurate a nationwide dealership network.VinFast’s proposed green transportation development project is its third manufacturing project and the largest investment in Tamil Nadu’s history.