VinFast signs MoU with government of Tamil Nadu, plans expansion of operations
Vietnamese electric vehicle (EV) manufacturer, VinFast, has plans to expand its operations in India. The firm has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government.
As a part of the MoU, the firm will gain access to 200 hectares in the SIPCOT Industrial Park near its current Thoothukudi base. The firm would invest $500 million with the focus on building dedicated facilities for electric buses and electric two-wheelers, covering everything from manufacturing and assembly to testing.