VinFast to invest $2 billion in INDIA Tamil Nadu to establish  first EV facility.

Vietnamese electric vehicle maker VinFast is set to open its first Indian manufacturing facility, where it will make batteries, in the southern state of Tamil Nadu, three people familiar with the matter said. The company will make batteries for EVs at the plant in the city of Thoothukudi, one of the people said, adding that this was separate from its previously announced plans to assemble vehicles shipped in parts from Vietnam.

VinFast, a car manufacturer that rivals companies like Tesla and China's BYD, chose not to provide a comment. Two individuals stated that an official announcement from the company regarding the new plant is anticipated in the next coming days.

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                                      This facility has top-of-the-line machinery from Germany, Japan, and Sweden. The welding process is 98% automated, and the capacity of the facility is 250,000 cars a year. What's even more impressive is that instead of having individual assembly lines for each vehicle, the facility can simultaneously assemble multiple models on the same line. Additionally, Google Maps shows that half of the 877-acre site is located beneath the South China Sea, as it was reclaimed from the waves and made operational in just 21 months.

The CEO of VinFast, Le Thuy, enjoys joking that even the large company in Mountain View, California, can't keep up with the fast pace of their electric vehicle (EV) production. Despite initial skepticism, VinFast managed to launch three car models in just 21 months, which was considered impossible by many. The global EV market was valued at $185 billion in 2021 and is predicted to grow by 24.5% annually, reaching $980 billion by 2028. VinFast, like many others, is eager to capture a share of this market and is aggressively targeting the U.S. and European auto markets. To succeed, the company must either surpass Tesla or convince traditional gasoline car drivers to make the switch to EVs. This is a significant challenge, as China currently dominates about half of the global EV market, yet none of its companies have attempted to enter the U.S. market despite investing millions of dollars in feasibility studies.

The CEO of VinFast, Le Thuy, enjoys joking that even the large company in Mountain View, California, can't keep up with the fast pace of their electric vehicle (EV) production. Despite initial skepticism, VinFast managed to launch three car models in just 21 months, which was considered impossible by many. The global EV market was valued at $185 billion in 2021 and is predicted to grow by 24.5% annually, reaching $980 billion by 2028. VinFast, like many others, is eager to capture a share of this market and is aggressively targeting the U.S. and European auto markets. To succeed, the company must either surpass Tesla or convince traditional gasoline car drivers to make the switch to EVs. This is a significant challenge, as China currently dominates about half of the global EV market, yet none of its companies have attempted to enter the U.S. market despite investing millions of dollars in feasibility studies.

In this passage, it is stated that VinFast, an automotive company, has plans to expand its operations to India. The company has expressed its intention to reveal the details of its plans at an appropriate time. There have been visits by VinFast officials to locations in Tamil Nadu, India, to assess potential sites for their operations. The company has also started hiring for various positions in India and is preparing to establish assembly factories in both India and Indonesia. The investment size and the operational timeline for the factory in Tamil Nadu are not immediately clear. Additionally, VinFast's founder's EV taxi operator, Green SM, is also planning to establish a presence in India. The company is considering bringing e-scooters and e-cars to the Indian market.

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