Written by Cláudio Afonso | LinkedIn | X
The Vietnamese electric vehicle (EV) manufacturer VinFast is accelerating its global expansion as it prepares to with the opening of two new factories in India and Indonesia. The global EV sales during the first quarter of the year amounted to 9,689 units.
According to what Vingroup founder and chairman Nhat Vuong Pham told Bloomberg, the company’s new factory in India will commence operations in the first half of 2025, six months ahead of schedule.
“Our goal is to make good cars with reasonable prices,” Pham said. “We have a full portfolio of models and step by step we will roll them out in the U.S. market.”
Additionally, the Indonesian plant will break ground within the next two months, targeting production by the end of 2025, ahead of its original 2026 schedule.
Both facilities are expected to have an initial production capacity of 50,000 vehicles annually, with scalability potential up to 300,000 units based on market demand.
The EV maker is also set to establish a battery production plant in India, partnering with Chinese battery firm Gotion to set up a battery manufacturing facility in Vietnam.
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Written by Cláudio Afonso | LinkedIn | X
