Construction of the facility is targeted to start this year, the company said. The project will have an annual capacity of as much as 150,000 units, it said.
Vietnamese electric-vehicle maker VinFast Auto Ltd. signed an agreement with an Indian state to invest as much as US$2 billion as it seeks to break into the world’s third-largest automobile market.
The agreement will pave the way for VinFast to set up an integrated electric-vehicle facility in the southern state of Tamil Nadu, the company said in a statement. The initial investment will be US$500 million, it said, without giving more details.
