New Delhi, Aug. 5 -- On Monday, VinFast, a subsidiary of Vingroup JSC, a large Vietnamese conglomerate, opened its electric vehicle (EV) plant in Thoothukudi, Tamil Nadu. The pure-play EV maker will use the plant to assemble its vehicles, and is expected to invest Rs.16,000 crore on the facility in phases.
VinFast makes everything from e-scooters to e-buses, and will initially use the facility for the Indian market. The company has opened bookings for two of its premium electric SUV models: VF 6 and VF 7. The Thoothukudi plant will also serve as an export hub for the company.
Unlike its Indian rivals, VinFast, presumably, will not face any issues on the rare earth magnet front as it will only assemble EVs at the Thoothukudi plant. The c...
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