Our Bureau
Chennai
India’s Electric Vehicle market is currently surging with big players of the global market entering the Indian space. This Monday, on August 4th, Vietnam’s EV giant VinFast opened their first plant outside of their homeland at Tuticorin in south Tamil Nadu. The Chief Minister of Tamil Nadu was present at the event and inaugurated the first factory of the company in India.
If the reports are to be trusted, initially the facility will be assembling two premium electric SUV models i.e., the VF 7 and VF 6. It will be targeting to roll out 50,000 vehicles per year from its plant in Tamil Nadu.
Stalin, who inaugurated the factory, spoke how the introduction of VinFast to the state will boost the growth of several industries in the state. He stated that the establishment will be creating about 3,500 jobs through their venture, and highlighted that anywhere between 80%-90% of the total workforce will be taken from Tuticorin and the area surrounding it.
“The factory was commissioned within 17 months of signing an MoU with the state govt. The launch of this facility will be a boost for industrial growth in south Tamil Nadu. It is the first complete EV unit in the country. During the initial phase, Rs 1,300 crore was invested in the facility. Moreover, the development will also facilitate the growth of component manufacturers,” the CM said.
The inauguration of this factory will strengthen Tamil Nadu’s position in the automobile sector and this was well explained by the CM. Stalin emphasized that the state of Tamil Nadu has become the hub for automobile manufacturers, including Hyundai, BMW, BYD, and OLA. He urged VinFast to make the state their investment destination for any future project they plan in the automobile sector as well as the IT sector.
