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

Vietnamese electric vehicle (EV) manufacturer VinFast is reportedly in the early stages of establishing its first manufacturing facility in India, news agency Reuters reported quoting sources familiar with the matter. The planned facility, situated in the southern state of Tamil Nadu, is expected to focus on the production of batteries for electric vehicles (EVs).Location and productionVinFast's proposed manufacturing plant is slated to be set up in the city of Thoothukudi in Tamil Nadu. The facility's primary purpose will be the 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 plansThe battery production unit in Tamil Nadu represents a distinct venture from VinFast's earlier announcements regarding assembling vehicles in India using parts shipped from Vietnam. While the company has revealed plans to assemble vehicles in India, the EV battery plant signifies an additional facet of VinFast's strategy to establish a significant presence in the Indian market.Competition and industry dynamicsVinFast, a key player in the electric vehicle sector, competes with renowned car manufacturers such as Tesla and China's BYD. The move to set up an EV battery plant in India underscores the company's commitment to leveraging the growing demand for electric vehicles in the country. The 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 the reported plans for an EV battery plant in India. However, in a statement released on Wednesday, the company mentioned that it would unveil detailed plans at “an appropriate time.”As VinFast strategically navigates the Indian market, the establishment of an EV battery plant aligns with the broader global trend towards sustainable and eco-friendly transportation solutions.(With Reuters inputs.)

Advertisement

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

VinFast's proposed manufacturing plant is slated to be set up in the city of Thoothukudi in Tamil Nadu.

Advertisement