VinFast electric vehicle manufacturing complex in Vietnam's Hai Phong city. (Photo: VNA)

VinFast and Tamil Nadu signed an MoU last month on an intended commitment of 500 million USD for the first phase of the factory, spanning five years from the commencement date.

The facility is projected to generate about 3,000 to 3,500 jobs for locals. It not only caters to development objectives in the Indian market, but also serves exports to South Asian, Middle Eastern and African countries.

The project will contribute to materializing the Indian government’s target of having 30% of newly registered private cars being electric.