Tesla rival VinFast plans to open India plant by end of June, says CEO
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Vietnamese electric vehicle (EV) major VinFast is planning to open its car assembly plant in Tamil Nadu by the end of June, the company's CEO Pham Sanh Chau said on Thursday, reported Reuters.
"In the near future, apart from the Vietnamese market, we will focus more on Indonesia, India, and the Philippines markets," Pham Nhat Vuong told shareholders of VinFast's parent company Vingroup.
VinFast, the Nasdaq-listed global rival of American EV giant Tesla, had selected Thoothukudi in Tamil Nadu for its $2 billion facility. The first phase of the project will see a $500 million investment, with the plant expected to have an annual production capacity of up to 1,50,000 vehicles. The plant is likely to start EV production in 2026.
The plant will also develop an entire EV eco-system, including battery manufacturing and setting up of charging stations across the country. V-Green, a group company, will be looking for co-investors in creating charging infrastructure.
In January this year, Pham Sanh Chau explained why Thoothukudi was chosen for the project. “We selected Thoothukudi since it is close to the seaport and airport, which will allow us to export. We have two factories in Vietnam — one is 50,000 and another around 100,000. We are looking at India for the domestic market, West Asia, and Africa,” he said.
VinFast’s integrated electric vehicle facility is expected to generate approximately 3,000–3,500 employment opportunities locally.
At the Bharat Mobility Global Expo 2025, the company unveiled two all-electric premium SUVs -- VF 7 and VF 6 -- for the Indian market. The EVs will be launched later this year.
Tesla's entry into Indian market
Elon Musk-led Tesla is also proactively looking to enter the Indian market. The talks have gained pace under the current US administration, given Musk's close ties with President Donald Trump.
Earlier this year, the Tesla CEO met Prime Minister Narendra during the latter's US visit and discussed possibilities of bringing his business ventures to India. They also had a phone conversation last week, following which Musk announced plans to visit India later this year.
Tesla has leased a 5,850-square-foot office space in Pune. In February this year, the company started hiring in India, posting job advertisements for as many as 13 positions in Mumbai and Delhi.
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