Tesla rival Vietnam’s VinFast Auto is setting up an electric vehicle (EV) and battery manufacturing facility at Thoothukudi, near Chennai, which will have the capacity to produce 150,000 EVs in the first phase, a person aware of the developments told ET.
The total investment in the 400-acre facility could eventually touch as much as $1 billion or even more, the person said, adding that VinFast is likely to make an official announcement on Saturday.
