VinFast Revvs Up for Entry into India's Electric Vehicle Market
VinFast, a subsidiary of Vietnam's Vingroup, plans to enter the Indian electric vehicle market with its VF7 and VF6 models. The company aims to produce up to 150,000 EVs annually and plans to hire 3,500 local employees by 2030. It will soon open bookings and set up robust infrastructure.
- Country:
- Vietnam
VinFast, the electric vehicle arm of Vietnam's Vingroup, is poised to enter the Indian market with its VF7 and VF6 models. According to a company spokesperson, bookings for the much-anticipated vehicles will open this month.
The company's strategy includes producing 150,000 EVs annually in India and exporting to markets in the Middle East and Africa. This move is supported by investments reaching USD 2 billion by 2030, with an initial USD 500 million already spent on a plant in Tamil Nadu.
VinFast is also focused on creating up to 3,500 jobs by the end of the decade, further establishing its footprint by setting up charging infrastructure and a network of dealers and service locations across the country.
(With inputs from agencies.)
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