CHENNAI: VinFast, Vietnam’s leading electric vehicle (EV) manufacturer, will be investing US $2 billion over five years to set up the company’s integrated EV facility in Thoothukudi, which will generate 3,000 to 3,500 jobs. An MoU to this effect was announced on Saturday. This will be one of the largest investments in Tamil Nadu in the state’s history.
The VinFast Tamil Nadu iniative is the company’s third manufacturing project. Its goal is to evolve into a first-class EV production hub in the region, with an annual capacity of up to 1,50,000 units. Construction of the plant is anticipated to begin this year.
