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Billionaire Pham Nhat Vuong’s VinFast Spending $500 Million To Expand EV Factory In India

On Thursday, VinFast agreed to invest $500 million as the second phase of its $2 billion commitment in India, signing an MoU to expand its SIPCOT Industrial Park facility in Thoothukudi.
The expansion is designed to broaden VinFast's product portfolio from electric cars to buses, e-scooters and charging infrastructure, deepening its presence in India, Pham Sanh Chau said.
The state will allocate roughly 500 acres and assist with permits and utilities, while VinFast's $500 million investment qualifies for Tamil Nadu government incentives and exemptions.
The expansion will increase capacity at VinFast's existing plant covering 400 acres , and officials said the project will add momentum to Tamil Nadu's clean-transport push and generate jobs.
Industries Minister Dr TRB Rajaa said the parcel will enable dedicated production lines for electric buses, e-scooters and charging equipment, with the MoU announced on Thursday and reported December 04, 2025.

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VinFast India has signed a new MoU with the Tamil Nadu government to expand its Thoothukudi manufacturing facility by an additional 500 acres. The 2nd phase of VinFast’s $2 billion India plan includes a $500 million investment to build electric buses, electric scooters and charging infrastructure.

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