Latest news with #Chau
The Hindu
2 days ago
- Automotive
- The Hindu
‘Ideal location, talent pool and govt. support drove VinFast's decision to set up plant in T.N.'
Thoothukudi's strategic location, Tamil Nadu's talent pool, and government support were the key factors behind VinFast's decision to set up its manufacturing plant in the State, VinFast Asia CEO Pham Sanh Chau said. The Vietnamese carmaker is set to begin the production of its VF7 and VF6 models at the Thoothukudi plant in July, while bookings will open in June. During the Global Investors Meet in Chennai last year, VinFast inked an MoU with the Tamil Nadu government for an investment of ₹16,000 crore in multiple phases for manufacturing EVs in Thoothukudi. Speaking to The Hindu in Hanoi recently, Mr. Chau said, 'We visited six States and inspected 15 locations before we decided to select Thoothukudi. Since we want to serve not only the domestic market, but also the external market, we need to be located very close to a seaport and an airport. Thoothukudi satisfies these requirements.' Mr. Chau said Tamil Nadu had an impressive pool of talent. VinFast Vietnam employed a large number of Indian engineers, the majority of whom were from Tamil Nadu, he said, adding that the State was also a hub for suppliers. 'The government of Tamil Nadu has been extremely helpful. Whenever we propose anything, they make the effort and satisfy our requirements. We cannot build a factory in 15 months without the kind, continuous and generous support from the government of Tamil Chief Minister M.K. Stalin himself, his Cabinet, and especially Minister for Industries T.R.B. Rajaa. So, that is why…[though] we were approached by many State governments, we made a final call to invest in Tamil Nadu,' he said. Responding to Mr. Chau's comments, Mr. Rajaa said, 'VinFast's integrated factory in Thoothukudi has laid the foundation for a new green industrial cluster in south Tamil Nadu. Along with the solar cell and green hydrogen projects, this factory will bring renewed economic vigour to the region.' According to him, the VinFast project is creating high-quality jobs for local youth through targeted upskilling under Naan Mudhalvan, while also enabling a thriving MSME ecosystem to support the EV value chain. 'This cluster approach is focused on sustainability and inclusivity. It aims to transform Thoothukudi into a next-generation manufacturing and export hub. With its proximity to the port, the region is set to become a gateway for exports,' he added. According to him, Tamil Nadu's focus remains on equitable industrial development, and VinFast's investment stands as an example of how the government is creating global opportunities across the State, ensuring distributed growth. (The writer was in Hanoi on the invitation of VinFast).
Time of India
3 days ago
- Automotive
- Time of India
VinFast eyes premium EV space in India, downplays competition with Tesla
Vietnam's electric vehicle manufacturer VinFast is preparing to enter the Indian market with two premium electric SUVs — the VF7 and VF6 — scheduled to launch ahead of the upcoming festive season. Bookings for the vehicles are expected to open this month, with the initial units to be imported from Vietnam. Pham Sanh Chau, CEO of VinFast Asia and former Vietnamese ambassador to India, said the company is positioning itself as a premium EV brand and is not focused on competing directly with players like Tesla or BYD. 'We don't see Tesla, or even BYD for that matter, as competition. Our mission is green mobility,' Chau said, PTI noted while he was outlining VinFast's strategy to build an entire EV ecosystem in India . Thoothukudi Plant to Anchor India Strategy VinFast has invested $500 million in a manufacturing facility in Thoothukudi, Tamil Nadu, with a total commitment of $2 billion by 2030. Completed in 15 months with support from both state and central governments, the plant will cater to domestic demand and serve as an export hub for the Middle East and Africa. The company plans to scale production from an initial 50,000 units annually to 1,50,000 depending on market conditions. Although the VF7 and VF6 will be imported initially, the company aims to localise production to benefit from cost efficiencies and government incentives. Chau confirmed that pricing would be positioned as 'affordable' despite the vehicles' premium features, noting the price-sensitive nature of the Indian market. Building a Full EV Ecosystem As part of its India rollout, VinFast will display its vehicles in high-footfall areas such as malls and airports. The company is also setting up a dealer and service network, building charging infrastructure, and developing a used vehicle exchange program. Talks with various state governments are ongoing to support EV adoption, particularly in setting up public charging stations. VinFast expects to employ up to 3,500 local workers by 2030 and has already begun recruiting engineering graduates from Tamil Nadu. Chau described India as a 'growing, dynamic automobile market' and expressed confidence in attracting investment and consumer interest as VinFast scales its operations in the country. (Source- PTI)
India.com
3 days ago
- Automotive
- India.com
This EV maker plans expansion in India after investing Rs 171201216200 in…, not Elon Musk Tesla, China's BYD name is….
Vietnam's Vingroup, which is establishing a $2 billion facility in Thoothukudi, Tamil Nadu, is also exploring opportunities to expand its presence in India through discussions with the governments of Andhra Pradesh and Telangana. Its electric vehicle (EV) division, VinFast, is preparing to introduce its VF7 and VF6 models in the Indian market ahead of the festive season this year. 'We visited several states and inspected multiple locations…before finally zeroing in on Thoothukudi in Tamil Nadu because of the logistical advantages it offers… with a port and airport nearby,' VinFast Asia CEO Pham Sanh Chau told PTI here. The launch of VF7 and VF6 — likely before the festival season this year –will mark the entry of Vingroup, one of the leading conglomerates of Vietnam, into the Indian market. 'Yes, we are in talks with other states as well. Our group sees India as a key market, and we could have a bigger presence there,' Chau said. Apart from Tamil Nadu, negotiations are underway with Telangana and Andhra Pradesh governments to set up facilities there. Electric vehicles are rapidly being embraced in both Tier 2 and Tier 3 cities and VinFast will establish an appropriate brand presence across India and continue to expand its dealership network based on the potential of each city, the company said in a statement. 'The federal government (Centre) in India as well as the state government in Tamil Nadu were supportive, and talks progressed well, enabling us to enter the country with the plant in Thoothukudi, where work progressed very fast over the past 15 months,' Chau said. Chau highlighted a strong history of relations between India and Vietnam 'dating back to the days of President Ho Chi Minh and Mahatma Gandhi'. 'These apart, the current investment environment in India is very attractive and we knew it was the right time to enter the country,' Chau, who was an ambassador from Vietnam to India for five years, said. It has also entered the US market with its EVs. In the past three decades since it was founded in 1993, the Vingroup has grown into Vietnam's largest private multi-sector corporation and one of the region's leading economic players, the group said. The Vingroup has a significant presence in the industrials and technology sector through VinFast, and the real estate and hospitality segment via Vinhomes and Vinpearl. Through the social enterprise sector, a non-profit initiative, the group allocates large amounts of funds annually to charitable causes — healthcare (Vinmec), education (Vinschool and VinUniversity), and scientific advancement (VinFuture), the company added. (With inputs from PTI)
Time of India
3 days ago
- Automotive
- Time of India
'Don't see as competition': VinFast Asia CEO on rivaling Tesla with premium EV launch plans in India
VinFast, the electric vehicle arm of Vietnam's Vingroup, is preparing a bold entry into the Indian market- setting the stage for direct competition with Tesla. With bookings for its vehicles scheduled to open this month, VinFast is banking on its VF7 and VF6 models to establish itself as a premium EV brand in one of the world's fastest-growing auto markets. Tired of too many ads? go ad free now Pham Sanh Chau, CEO of VinFast Asia and Vietnam's former ambassador to India, confirmed that the company aims to launch its vehicles ahead of the upcoming festive season. "We have our products in 16 countries, including Southeast Asia, the Middle East, the US… and VinFast will come to India with an entire ecosystem. Our first target is to position ourselves as the premium EV car in India through the VF7 and VF6, which we plan to roll out in the country by the festival season this year," said Chau, as quoted by news agency PTI. Though Tesla is widely expected to enter the Indian market with fanfare, Chau downplayed notions of rivalry. 'We don't see Tesla, or even BYD for that matter, as competition. Our mission is green mobility. Anyone who shares that dream will be our friend,' he said. Still, VinFast's plans clearly signal its intent to compete in the same space Tesla is eyeing- affluent urban buyers willing to pay a premium for electric innovation. "In Vietnam, we are the biggest selling car company, the largest charger and taxi service provider. We have done everything in Vietnam, and this is the time for us to go global. We wanted to enter India as it is a growing, dynamic automobile market," Chau announced talking about expanding in India. VinFast has already invested $500 million in its new manufacturing facility in Thoothukudi, Tamil Nadu, with a total outlay of $2 billion committed by 2030. Tired of too many ads? go ad free now The plant, completed in just 15 months with strong state and central government support, will serve both the Indian market and export destinations in the Middle East and Africa. Initial production capacity is pegged at 50,000 units annually, with a ramp-up to 150,000 planned based on demand. To support its launch, VinFast will showcase its models at high-traffic locations such as shopping centres and airports before bookings open. The VF7 and VF6, currently manufactured in Vietnam, will be imported initially, though localisation is central to the company's long-term strategy. 'Localisation will help with government incentives, reduce costs, and make us more competitive,' Chau also said, adding that the company does not currently benefit from duty exemptions in India. Pricing has not yet been finalised, but Chau promised it would be 'affordable' despite the premium positioning. 'India is a sensitive market, and we will have an affordable price,' he said, while stressing the VF7 and VF6 will be 'premium vehicles.' Beyond manufacturing, VinFast is laying the foundation for an EV ecosystem in India. This includes dealer networks, authorised service centres, charging infrastructure, and a used vehicle exchange program. Talks with state governments are underway to establish charging stations, with Chau expressing confidence in attracting support from Indian investors as well. By 2030, VinFast expects to employ up to 3,500 local workers, having already interviewed hundreds of engineering graduates from Tamil Nadu, accordingto Chau's statement to PTI. The company's expansion plan reflects a deep commitment to India, which Chau described as a 'growing, dynamic automobile market.'
Time of India
3 days ago
- Automotive
- Time of India
VinFast India bookings to open in June; aim to ramp up production to 1,50,000 EVs annually: Asia CEO
Live Events VinFast, the electric vehicle (EV) unit of Vingroup -- a leading conglomerate in Vietnam -- is gearing up to introduce its lineup in India with bookings all set to open this month, a top company official company is eyeing a launch in India with its VF7 and VF6 models before the festival season this year and aims to push up annual production in the country to 1,50,000 EVs in the coming years to be able to export them to countries in the Middle East and company is also optimistic about hiring up to 3,500 domestic employees by 2030, VinFast Asia CEO Pham Sanh Chau told PTI which has set up its first plant -- a USD 2-billion facility -- in India at Tamil Nadu's Thoothukudi, will first display its cars at shopping malls and airports before the bookings begin, Chau company has already invested USD 500 million on the plant in Thoothukudi, and "will look to consume the entire investment of USD 2 billion by 2030", Chau said."We have our products in 16 countries, including Southeast Asia, the Middle East, the US... and VinFast will come to India with an entire ecosystem. Our first target is to position ourselves as the premium EV car in India through the VF7 and VF6, which we plan to roll out in the country by the festival season this year," Chau VF7 and VF6 are in production in Vietnam, where VinFast is a major player. The company is yet to take a final decision on the pricing of the vehicles."India is a sensitive market, and we will have an affordable price," Chau said, adding that these models will be "premium vehicles, and we will make a formal announcement on this (price) very soon," Chau company aims to produce about 50,000 cars annually to start with, and will be looking to push the numbers to 1,50,000 in the coming years, depending on demand. "We have targets to export the products to external markets, including the Middle East and Africa," he the job front, the company has interviewed nearly 400 freshers from various universities in Tamil Nadu, and many will join soon. "By 2030, we expect to have up to 3,500 local workforce as part of our commitment to the state government," Chau plant in Tamil Nadu was set up within 15 months, and for this Chau credited "prompt support from the state and central governments".Elaborating on the strategy for the India entry, Chau said the company will look to have a network of dealers, network of authorised repair shops, robust charging points, and a green future company, which will enable customers to exchange their second-hand cars for new company will look to ramp up localisation as it moves ahead in the India journey. "... at the moment, VinFast doesn't enjoy any duty exemptions in India ... so, it (localisation) is very important as it will help with regards to government incentives, bringing down cost, and being competitive," the VinFast Asia CEO company is in talks with various state governments in India for setting up charging the decision to foray into India, Chau said, "In Vietnam, we are the biggest selling car company, the largest charger and taxi service provider. We have done everything in Vietnam, and this is the time for us to go global. We wanted to enter India as it is a growing, dynamic automobile market."To ramp up charging infrastructure in India, Chau said "We are in talks with state governments regarding this... Investors from around the world have assisted us in our projects, and as we move forward we hope to receive support from domestic investors in India for this purpose," he 65, who has been a top diplomat and was Vietnam's ambassador to India for five years, highlighted good relations between India and Vietnam, "which date back to the days of President Ho Chi Minh and Mahatma Gandhi ... the two countries enjoy a comprehensive strategic partnership".On its possible competition with Tesla, which is also looking to enter the India market, Chau said, "We don't see Tesla, or even BYD for that matter, as competition. Our mission is green mobility. Anyone who shares that dream will be our friend.""We believe our product will match the requirements of the Indian customers, and in the next few years we hope to become among the top EV players in the country," Chau added. PTI
