Tuticorin: Tamil Nadu Chief Minister MK Stalin on Sunday laid the foundation stone of Vietnamese EV manufacturer VinFast Auto’s vehicle and battery product facility.VinFast, a major competitor to American electric vehicle (EV) maker Tesla, has earmarked investments of Rs 16,000 crore in the state.
Tesla has been negotiating with the Centre to lower customs duty to allow it to sell its imported vehicles in India before setting up a manufacturing facility in the country.
VinFast’s start of work on its plant in India comes just 50 days after the signing of a Memorandum of Understanding (MoU).
