VinFast Signs Tamil Nadu MoU for $500 Million Expansion, Adding E‑Bus and E‑Scooter Production

Overview

• Under the MoU, Tamil Nadu will allocate about 200 hectares adjacent to VinFast’s SIPCOT Thoothukudi facility.
• The $500 million outlay marks phase two of VinFast’s $2 billion India plan, funding new workshops and lines for electric buses and e‑scooters plus charging equipment.
• The existing plant spans about 160 hectares with initial capacity of 50,000 EVs, with plans to move toward roughly 150,000 units annually.
• The state will help secure permits and connect power, water, internal roads, drainage and waste systems while applying applicable incentives and exemptions.
• Executives cite expected job creation and deeper localization, and the firm reports 24 dealers in India with a target of 35 by year‑end.