Vietnam-based electric vehicle manufacturing giant VinFast is all set to open their first-ever factory in India in Thoothukudi in Tamil Nadu. While the company is yet to make a formal statement, sources told TNM that the company will make a stock market exchange declaration soon. The state government would then officially announce the tie-up. 

Further, TNIE has reported that according to their sources Chief Minister MK Stalin was keen on convincing VinFast to invest in Thoothukudi and that he had deputed Industries Minister TRB Rajaa to ensure that the company does so. TNIE also reports that VinFast had been in talks with the office of TRB Rajaa since October 2023. The minister had an urgent meeting with VinFast in Vietnam and after two days of negotiations, a deal has been worked out with the e-vehicle firm. 

According to several reports, the manufacturing plant will make batteries for electric vehicles. Reuters says senior officials from VinFast had visited Thoothukudi in order to survey possible sites for the factory.