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The Hindu
The Hindu
National
The Hindu Bureau

T.N. CM Stalin lays foundation stone for VinFast’s electric car unit in Thoothukudi

VinFast Thoothukudi TRB Rajaa Tamil Nadu electric vehicle

Tamil Nadu Chief Minister M.K. Stalin on Sunday, February 25, 2024 laid the foundation stone for Vietnam-headquartered VinFast Auto Limited’s electric car manufacturing facility coming up on 408 acres in SIPCOT Industrial Complex at Sillaanaththam on the outskirts of Thoothukudi at an outlay of ₹16,000 crore.

In the first phase, the Vietnamese firm will invest ₹4,000 crore, which represents significant step towards strategic partnership between VinFast Auto and the Tamil Nadu Government aimed at advancing the development of green transportation.

Following the signing of Memorandum of Understanding (MoU) between VinFast and Government of Tamil Nadu on January 6 last during the Global Investors’ Meet held in Chennai, the Chief Minister has laid the foundation stone for the manufacturing facility, which is expected to have annual production capacity up to 1.50 lakh units and create up to 3,500 new jobs in the first phase. When the entire quantum of ₹16,000 is invested, it will create direct and indirect jobs to around 10,000 persons.

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