Vinfast opens a $500M electric car factory in India, targeting 50,000 annual vehicles.

Vietnamese electric vehicle maker Vinfast has opened a $500 million factory in India's Tamil Nadu state, aiming to produce 50,000 cars annually, with potential to expand to 150,000. This marks Vinfast's broader pivot towards Asian markets, creating over 3,000 jobs and positioning the plant as a hub for exports to the Asia-Pacific region. The move follows Vinfast's challenges in the US and Europe and aligns with India's growing demand for electric vehicles.