VinFast bet88 invest bln in green transportation in India

VinFast and the Tamil Nadu State Government have officially announced cooperation through an MoU bet88 develop green transportation in India. Under the agreement, the two aim bet88 actively work towards an investment goal of up bet88 billion. The first phase will see investment of 0 million over a span of five years.

Ms. Tran Mai Hoa, Deputy General Director of Business and Marketing at VinFast globally, said the MoU represents a strong commitment from VinFast bet88 sustainable development and a vision for an emissions-free future in transportation. “We believe that investing in Tamil Nadu will not only bring significant economic benefits bet88 both parties but also contribute bet88 promoting the transition bet88 green energy in India and the region,” she said.

The initiative aligns with Tamil Nadu’s goal of having 30 per cent of vehicles in the state being electric, bet88 reduce carbon emissions in its transportation sector. The project is set bet88 commence this year, laying a solid foundation for economic growth in Tamil Nadu and across India.

“Electric vehicle manufacturers are not only crucial economic drivers but also contribute bet88 the green vision of the state,” said Mr. Thallikotai Raju Balu Rajaa, Minister of Industry for the Tamil Nadu Government. “We are delighted that VinFast has chosen bet88 invest in Tamil Nadu, bet88 establish its electric vehicle and battery production facility. With strong capabilities and a robust commitment bet88 a green future, I believe VinFast will be a reliable economic partner, contributing bet88 the sustainable development of Tamil Nadu.”

VinFast’s project for developing green transportation will be its third manufacturing facility and represents the largest investment in the history of Tamil Nadu. Recognizing its significant contribution bet88 the labor market, economic growth, and the state’s green outlook, the Tamil Nadu Government has pledged maximum support bet88 VinFast in terms of manufacturing land, energy supply, and production infrastructure. Additionally, both parties will continue cooperating bet88 explore opportunities for developing charging station infrastructure bet88 jointly promote green transportation locally.

In addition bet88 manufacturing in Tamil Nadu, VinFast plans bet88 establish a distribution and retail network nationwide bet88 quickly and extensively connect with Indian customers. This expansion into India is part of VinFast’s strategy bet88 seize opportunities in the world’s most populous and rapidly-growing electric vehicle market, contributing bet88 the brand’s strong presence in key markets and completing the electric vehicle supply chain for global development.

The decision bet88 invest in Tamil Nadu not only brings economic benefits bet88 VinFast and the local market but also strengthens the comprehensive strategic partnership between Vietnam and India.