VinFast—managed by Vietnam’s richest particular person Pham Nhat Vuong—is spending $500 million to triple its EV manufacturing capability in India inside just a few years.

The growth may even allow the corporate’s present manufacturing facility within the southern Indian state of Tamil Nadu to provide electrical buses, e-scooters and charging infrastructure, New York-listed VinFast mentioned in a assertion. The facility, which began producing electrical vehicles in August, is Vinfast’s first abroad plant.

“The proposed expansion of the Tamil Nadu plant will enable us to broaden our product lineup in India, allowing us to meet a wider range of customer needs,” Pham Sanh Chau, CEO of VinFast Asia, mentioned within the assertion. “VinFast believes that Tamil Nadu will continue to serve as a strategic hub in our global expansion journey and will play an important role in supporting India’s green mobility goals.”

The growth undertaking—which might enhance annual manufacturing capability in India to 150,000 from 50,000 at present—is the second part of an present $2 billion dedication to scale up its operations in India. The authorities of Tamil Nadu is allocating an extra 200 hectares proper subsequent to VinFast’s present manufacturing facility, which internet sites on a 160-hectare property.

Based within the port metropolis of Hao Phong in northeastern Vietnam, VinFast has been scaling up shipments globally whilst the corporate stays within the purple. It delivered 110,362 EVs within the first 9 months of the yr, surpassing 97,399 deliveries in the entire of 2024. In India, it plans to extend its supplier community to 35 shops by the tip of the yr from 24 at present.

With a real-time internet price of $14 billion, Pham has pursuits in actual property, retail, healthcare, training, and know-how by means of his flagship Vingroup. He constructed his fortune from an instantaneous noodles enterprise he began in Ukraine in 1993. He bought that enterprise to Nestle in 2010 and constructed certainly one of Vietnam’s most diversified conglomerates.