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On Saturday, Vietnamese EV maker VinFast agreed to set up its first manufacturing facilities in India and work toward an investment of up to $2 billion in Tamil Nadu, as more companies seek to penetrate the world's third-largest vehicle market.
"The Tamil Nadu government will support investors in every way possible," Chief Minister M. K. Stalin said at the event, adding that it sought to play a major role in India's growth.
Amidst reports of Tesla considering to set up a manufacturing plant in Gujarat, Tamil Nadu has successfully drawn $2 billion investment from Vietnam's VinFast Auto for an integrated EV facility.
Tata Electronics, a part of the Indian conglomerate, committed to invest 120.8 billion rupees for mobile phone assembly operations.
The state, which is a hub for electronics manufacturing, saw large investments from firms like Tata Electronics which committed to invest Rs 12,080 crore for mobile phone assembly operations as well as Taiwanese giant Pegatron which said it would be investing up to Rs 1,000 crore to expand production.