Just 50 days after signing MoU, TN CM lays foundation stone for VinFast’s EV plant in south TN
Tamil Nadu Chief Minister M K Stalin on Sunday laid the foundation stone for the electric vehicle car and battery manufacturing facility of VinFast Auto Ltd, which has earmarked investments of Rs 16,000 crore for the state, just 50 days after signing an MoU with the Vietnam-based EV maker.
The memorandum of understanding with the Government of Tamil Nadu for the plant was signed during the Global Investors Meet held by the DMK government in January. The quick turnaround time from signing to the MoU to laying the foundation stone — 50 days — is an example of Tamil Nadu’s industry-friendly climate and showcases the government’s commitment to quick clearance of approvals.
