Vietnamese EV Ggant scouts locations in Tamil Nadu and Gujarat for a potential $200m facility, targeting a booming market

VinFast Auto, the Vietnamese electric vehicle (EV) manufacturer, is actively searching for a suitable location in India to establish a new manufacturing facility. VinFast’s teams have conducted site inspections at two prominent locations in Tamil Nadu and are poised to explore options in Gujarat.

Since entering the EV manufacturing sector in 2021, VinFast representatives have scouted potential sites in the Manalur region, located north of Chennai, as well as the southernmost district of Tamil Nadu, Tuticorin. A critical factor influencing VinFast’s decision-making process is the proximity to a port, rendering Tamil Nadu and Gujarat as attractive prospects. Tamil Nadu’s strategic East-West connectivity also offers additional advantages, especially in light of VinFast’s aspirations in the East Asian markets.

In line with their plans for India, VinFast recently disclosed an initial investment estimate of approximately USD 200 million. Their goal is to initiate vehicle assembly operations by 2026, recognising the substantial growth potential in the Indian market.

VinFast’s expansion strategy was outlined during their second-quarter earnings announcement on 24 September , with a strong emphasis on the Indian market as a central component of their plan. Le Thi Thu Thuy, the Managing Director and Global CEO of VinFast Auto, elaborated on 5 October , highlighting a potential initial production capacity of up to 50,000 cars annually in Phase I.

Established in 2017, VinFast has laid out an ambitious roadmap, aiming to compete with Tesla in the U.S. market. As per recent assessments, boasting a market capitalization of USD 25.7 billion, VinFast ranks as the seventeenth most valuable automaker in the world.