Vietnam based company VinFast could be planning to enter the Indian market soon. According to reports, the brand has signed an MOU (Memorandum of Understanding) with the Government of Tamil Nadu, to set up a production facility. Reports reveal that VinFast will be investing close to USD 500 Million in the first phase for setting up the integrated EV facility.
Vinfast’s electric vehicle facility will be set up in Thoothukudi, Tamil Nadu. The work on the facility is likely to commence from 25th February 2024. Furthermore, this new integrated EV facility is likely to generate around 3,500 job opportunities in the area, helping the port city on the Coromandel coast flourish further.
The manufacturing facility at the Pearl City is likely to churn out 150,000 units per annum. With a six figure production capacity, the company is likely to make the Thoothukudi plant a production hub for exports. The VinFast EVs could be produced in India and exported to South Asia, Africa and Middle Eastern markets.
In addition to this, VinFast is also likely to introduce its EVs in the Indian market. VinFast could introduce the VF8 and VF9 EVs in the Indian market and possibly the VF6 and VF7 in the later stage. Thanks to the Government of India’s aim to curtail carbon emissions the project will further catalyse the absorption of electric vehicles in the Indian market.
The VinFast VF8 electric SUV comes with a 87.7 kWh battery capacity and a 402 Hp electric motor. The electric SUV claims an EPA range of 425 km on a single charge. On the other hand, the VF9 three-row e-SUV comes with a 123 kWh battery and 402 Hp motor. The 7-seat VF9 comes with an EPA range of 531 km on a single charge.
In the United States, the VinFast VF8 retails starting at USD 46,000 MSRP. The VinFast VF9 retails starting from USD 79,800 MSRP. This converts to INR 38 lakh for the VinFast VF8 and INR 66 lakh for the VinFast VF9.
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*Currency from USD to INR converted at mid-market rates for informational purposes only.