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Vietnamese EV maker VinFast to set up battery plant in India
Mint Mumbai
|January 04, 2024
Vietnamese electric vehicle maker VinFast is set to open its first Indian manufacturing facility, where it will make batteries, in the southern state of Tamil Nadu, three people familiar with the matter said.
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The company will make batteries for EVs at the plant in the city of Thoothukudi, one of the people said, adding that this was separate from its previously announced plans to assemble vehicles shipped in parts from Vietnam.
VinFast, which competes with carmakers such as Tesla and China's BYD, declined to comment. An announcement by the company on the new plant is expected in the coming days, two people said.
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