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Vietnam automaker Vinfast to build factory in India, eyeing growth...

Vietnamese automaker Vinfast has begun construction on a five hundred million dollar electric vehicle factory in Tamil Nadu, southern India, as part of a broader two billion dollar investment in the country. The new facility in Thoothukudi is expected to produce fifty thousand vehicles annually at first, with the potential to triple output, and create over three thousand local jobs. Vinfast aims to use the plant as a hub for exports to South Asia, the Middle East, and Africa, marking a strategic shift toward Asian markets after limited success in the United States and Europe.

India's rapidly growing electric vehicle market, supportive government policies, and the push for local manufacturing have attracted Vinfast, which plans to launch its VF6 and VF7 models later this year. The company faces stiff competition from established Indian and international automakers, and will need to win over cost-conscious consumers by offering quality, affordability, and reliable service. Vinfast intends to build a network of showrooms and service centers, partner with local firms, and manufacture key components domestically to keep costs down and build trust with Indian buyers.

Original article source: https://www.dailymail.co.uk/wires/ap/article-14967873/Vietnam-automaker-Vinfast-build-factory-India-eyeing-growth-Asia.html
Source Id: 8799559434

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