VinFast to invest $2 billion to set up an integrated EV manufacturing hub in India

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VinFast, an electric vehicle manufacturer from Vietnam, plans to invest up to $2 billion, to set up an EV plant in India's southern state of Tamil Nadu, the company said in a press release on Jan. 6, coinciding with the state's global investor summit. Vinfast, plans to invest $500 million in the first phase of the Project, spanning five years from the commencement date, later this year.