VinFast India's EV assembly plant to open by end of June 2025

VinFast had initially planned to focus on the American market, but the growing uncertainty caused by tariffs has forced the company to change its strategy.

Vietnam-based EV maker VinFast has said that it plans to open its first assembly plant in India by the end of June.

VinFast had initially planned to focus on the American market, but the growing uncertainty caused by tariffs has forced the company to change its strategy. VinFast has shifted its focus to Asia; more specifically on the Indian, Indonesian and Philippines markets.

"In the near future, apart from the Vietnamese market, we will focus more on Indonesia, India, and the Philippines markets," VinFast founder Pham Nhat Vuong told shareholders. "At the moment, VinFast is not planning to boost sales in the United States, Canada, and the European Union due to high logistics fee," he added.

Last year, VinFast announced that it intended to invest up to $2 billion in the southern Indian state of Tamil Nadu for a new assembly plant with an estimated annual production capacity of up to 150,000 units.

VinFast is also setting up an assembly plant in Indonesia. Vuong said that it would be operational in October this year.

Source: Reuters