Tesla rival VinFast eyes EV battery plant in Tamil Nadu: Report

Vietnamese electric vehicle (EV) manufacturer VinFast is reportedly in early sts of establishing its first manufacturing facility in India, news ncy Reuters reported quoting sources familiar with matter. planned facility, situated in sourn state of Tamil Nu, is expected to focus on production of batteries for electric vehicles (EVs).

Location and production

VinFast's proposed manufacturing plant is slated to be set up in city of Thoothukudi in Tamil Nu. facility's primary purpose will be production of batteries to power electric vehicles. This strategic move aligns with VinFast's expansion plans and diversification beyond vehicle assembly.

Separate endeavor from previous plans

battery production unit in Tamil Nu represents a distinct venture from VinFast's earlier anuncements regarding assembling vehicles in India using parts shipped from Vietnam. While company has revealed plans to assemble vehicles in India, EV battery plant signifies an ditional facet of VinFast's strategy to establish a significant presence in Indian market.

Competition and industry dynamics

VinFast, a key player in electric vehicle sector, competes with rewned car manufacturers such as Tesla and China's BYD. move to set up an EV battery plant in India underscores company's commitment to leveraging growing demand for electric vehicles in country. Indian government's push towards sustainable and green transportation has contributed to an increasing focus on EV production and infrastructure.

VinFast has refrained from providing specific comments on reported plans for an EV battery plant in India. However, in a statement released on Wednesday, company mentioned that it would unveil detailed plans at “an appropriate time.”

As VinFast strategically navigates Indian market, establishment of an EV battery plant aligns with broer global trend towards sustainable and eco-friendly transportation solutions.

(With Reuters inputs.)