Vietnam automaker Vinfast opens factory in India, eyeing growth in Asia

Vietnam's Vinfast has begun production at a $500 million electric vehicle plant in India’s Tamil Nadu, part of a larger $2 billion investment to expand into Asian markets. The new factory will start by producing 50,000 EVs a year, with room to triple output. Vinfast sees India — where Chinese EV makers and other foreign automakers have struggled — as a key potential growth market. But it faces stiff competition from established players like Tata and South Korea's Hyundai. The company is betting on local manufacturing, competitive pricing, and a growing dealership network to win over Indian buyers. Experts say building brand trust will be crucial in India's price-sensitive market.