Vietnam’s Vinfast is due to break ground Monday on a $500 million electric vehicle plant in southern India’s Tamil Nadu state, part of a planned $2 billion investment in India and a broader expansion across Asia.
The factory in Thoothukudi will initially make 50,000 electric vehicles annually, with room to triple output to 150,000 cars. Given its proximity to a major port in one of India's most industrialized states, Vinfast hopes it will be a hub for future exports to the region. It says the factory will create more than 3,000 local jobs.
