Latest news with #VinFastAsia
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).
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
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
Time of India
3 days ago
- Automotive
- Time of India
Vietnam's Vingroup set to enter Indian market with EVs, real estate and more
"VinFast will stand out in the Indian market for offering high-quality vehicles at an affordable price," said CEO Chau. The group's automotive arm VinFast Asia will debut in India with its VF7 and VF6 EV models, with bookings opening in June. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Ecosystem Approach Diversification Plans Tired of too many ads? Remove Ads Vietnam's largest conglomerate Vingroup is preparing to make a significant entry into the Indian market, spanning across sectors such as automobiles, real estate, education and hospitality.'We would like to enter India with our whole ecosystem and a long-term commitment,' said Pham Sanh Chau, CEO of VinFast Asia , the group's automotive will debut in India with its VF7 and VF6 electric vehicle (EV) models, with bookings opening in company aims to build a strong brand presence across tier-2 and -3 cities, and will grow its dealership network according to each city's potential."VinFast will stand out in the Indian market for offering high-quality vehicles at an affordable price," said ahead, VinFast will also introduce four electric taxi models—Minio Green, Nerio Green, Herio Green and Limo Green—in EVs account for 3-3.5% of India's auto emphasised that India presents a strategic opportunity due to its high purchasing power, promising growth, and low EV adoption. 'We aim to become one of the leading players in India within five years,' he 2024, the company began establishing a manufacturing plant in Thoothukudi in Tamil Nadu, with an investment commitment of up to $2 billion. The facility will have an annual production capacity of 50,000 vehicles and is expected to create around 3,500 jobs. VinFast plans to expand the production capacity to 150,000 vehicles annually to meet the market demand and explore export aims to enter India with a comprehensive ecosystem, which will include a nationwide dealer network, authorised third-party repair shops for quick customer service and charging company is in talks with banks to facilitate financing solutions for both customers and dealers, said Chau. For charging infrastructure, he indicated openness to partnering with local EVs, Vingroup is exploring opportunities in real estate, renewable energy (wind and solar) and infrastructure development, including resorts like its Vinpearl brand in Vietnam, schools and shopping company is in discussions with state governments, including Telangana and Andhra Pradesh, for smart cities projects. For renewable energy generation, talks are ongoing with Gujarat and Tamil Nadu.'We're very excited and optimistic about our operations in India,' Chau concluded. 'India is a large and growing market—and we have prepared well for it.'(The correspondent is in Hanoi at the invitation of Vingroup.)
Economic Times
3 days ago
- Automotive
- Economic Times
Vietnam's VinFast plots deeper India push after $2 bn Tamil Nadu bet, eyes Andhra and Telangana
Vietnamese conglomerate Vingroup is accelerating its expansion into the Indian market through its electric vehicle (EV) arm VinFast, which is actively engaging with several state governments and preparing for a key product launch. The introduction of its VF7 and VF6 models, expected before the upcoming festival season, will mark the official entry of Vingroup, one of Vietnam's leading conglomerates, into India. The company has already committed $2 billion to setting up an EV manufacturing plant in Thoothukudi, Tamil Nadu, selected for its strategic location and infrastructure. "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," said VinFast Asia CEO Pham Sanh Chau, speaking to PTI. In addition to Tamil Nadu, VinFast is currently in discussions with the governments of Telangana and Andhra Pradesh to establish additional facilities. "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. Also Read: This $7,000 single-seat electric car is a big hit in Japan The company noted that electric vehicles are rapidly gaining traction in Tier 2 and Tier 3 cities across India. VinFast plans to establish a strong brand presence and expand its dealership network based on the growth potential of each city. "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 added. Chau also emphasized the long-standing ties between India and Vietnam, stating that the relationship "dates back to the days of President Ho Chi Minh and Mahatma Gandhi". He added, "These apart, the current investment environment in India is very attractive and we knew it was the right time to enter the country." Chau previously served as Vietnam's ambassador to India for five years. Also Read: EV makers Tata, Mahindra seek to block hybrids in govt fleets, documents show Beyond Vietnam, Vingroup already operates in Indonesia and the Philippines, and has also entered the US market with its EV its founding in 1993, Vingroup has grown into Vietnam's largest private multi-sector corporation. The company has a significant footprint in the industrials and technology sectors through VinFast and is a key player in real estate and hospitality through Vinhomes and Vinpearl. The group also invests heavily in social enterprises, channeling substantial funds into healthcare (Vinmec), education (Vinschool and VinUniversity) and scientific research (VinFuture) as part of its non-profit initiatives. With inputs from PTI
