VinFast to expand facility for electric 2Ws, buses in TN

VinFast and the Tamil Nadu government on Thursday signed a memorandum of understanding (MoU) to allocate approximately 500 acres of land in the Sipcot Industrial Park in Thoothukudi to support the expansion of the firm's existing facility to produce electric buses escooters.

- SHINE JACOB

This is likely to be seen as and an additional $500 million second-phase investment by the company in Thoothukudi to develop new dedicated workshops and production lines for electric buses and escooters, covering manufacturing, assembly, testing and other related operations. During the first phase, it had already invested $500 million, and has already lined up a cumulative investment of $2 billion.