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Vietnamese electric vehicle maker VinFast is set to open its first Indian manufacturing facility, where it will make batteries, in the southern state of Tamil Nadu, three people familiar with the matter said.
Also, some automakers say Trump's plan to gut the Inflation Reduction Act will hurt EV sales, and Hyundai/Kia's sales roll continues in December.
VinFast charges through India's EV market with battery plant
Vietnamese electric vehicle maker VinFast is set to open its first Indian manufacturing facility in Tamil Nadu, where it will manufacture batteries for electric vehicles (EVs). The plant will be located in Thoothukudi, separate from its previous plans to assemble vehicles from Vietnam. VinFast, which competes with carmakers like Tesla and China's BYD, declined to comment on the new plant.
This facility is separate from VinFast's previously announced plans to assemble vehicles shipped in parts from Vietnam.