VinFast, a company making electric cars, is planning to start making their vehicles in India. They want to set up a factory in Tamil Nadu, a state in India. This factory will make batteries for electric cars. Some people close to VinFast said that the company is looking at places in Thoothukudi district in Tamil Nadu for this factory.
VinFast’s Plans in India
VinFast is also thinking about bringing electric scooters and cars to India. They have been hiring people for jobs in sales, legal work, and other office jobs in India. But we don’t know yet how much money VinFast will invest in Tamil Nadu and when the factory will start working.
VinFast’s Big Plans
VinFast wants to build factories in India and Indonesia. Each of these places could make up to 50,000 cars in a year. They might spend about $200 million at the start. They hope to start making cars in 2026. VinFast’s CEO also said that a company linked to VinFast’s founder wants to start a taxi service in India using electric cars.
Other Companies in the Competition
Tesla, another big electric car company, is also looking to set up a factory in India, in Gujarat. They are close to finishing talks about this. Another company from Taiwan, called Gogoro, is planning to invest more in India. They want to make electric two-wheelers and set up places where batteries can be quickly changed for these vehicles.
Changes in Partnerships
Gogoro and an Indian company called Belrise Industries were planning a big project together. But recently, Belrise Industries decided to work on this project alone. They were planning to spend $2.5 billion to create a smart energy system in Maharashtra, a state in India.
Electric Vehicles in India
More and more electric vehicles are getting registered in India. In 2023, around 15.13 lakh electric vehicles were registered, which is a big jump from 10.25 lakh in the year before. Most of these were electric two-wheelers, with around 8.49 lakh getting registered in 2023, showing a 34% increase from the year before.
VinFast, Tesla, Gogoro, and other companies are all looking at India as a big market for electric vehicles. They want to set up factories and sell more electric cars and scooters in the country. This could change how people travel and use vehicles in India.