Mumbai :
A company from Vietnam that makes electric cars is coming to India, which is the world’s biggest market for cars.
Here we’re discussing a company from Vietnam that makes electric cars, and it’s called Vinfast.
The company that makes electric cars is starting to build its first factory in India. They have signed an agreement to set up the plant.
Plant to be built in Tamil Nadu
In this agreement, the company plans to invest 500 million dollars, which is around Rs 4160 crore, in the first five years in the southern state of Tamil Nadu.
After that, they will consider investing up to 2 billion dollars.
Work on the plant will start from this year itself
A statement together mentioned that the company will begin working on the electric vehicle and battery plant in Tamil Nadu this year.
As they build the plant, there will be new job opportunities for local people.
If what’s being said in reports is true, around 3000 to 3500 people might get jobs when they’re building the plant.
The company will focus on making batteries for electric vehicles in this plant.
What will be the capacity of the plant?
If what people are saying in reports is true, the plant that will be built in Tamil Nadu will be able to make 150,000 vehicles in a year.
This will make this part of Tamil Nadu a top-notch hub for producing electric vehicles.
Let me explain, Vinfast, a company from Vietnam that makes electric vehicles, produces 250,000 vehicles in its Vietnam plant.
It’s known that electric vehicles (EVs) made up 2 percent of car sales in India last year. However, the Indian government aims to increase this to 30 percent by 2030.
