Vietnam EV maker VinFast to invest up to $2 bn in India facility

Vietnamese electric vehicle maker VinFast has announced plans to invest up to $2 billion for setting up an integrated manufacturing facility in India, as it looks to tap the world’s third largest market for automobiles. The company has signed a memorandum of understanding (MoU) with the Tamil Nadu government for setting up a plant in Thoothukudi, with an annual capacity of 1,50,000 units.