Vietnamese electric carmaker VinFast expects to open its India factory in the first half (H1) of next year, that is, six months earlier than initially planned.

VinFast in January, 2024 had signed an agreement with the Tamil Nadu state government to invest as much as USD two billion in the country. Work on the plant started in February with an initial investment of USD 500 million.

Moreover, the production in Indonesia is planned to begin by the end of 2025, ahead of the original schedule of 2026. Both factories of VinFast will initially have production capacity of 50,000 vehicles with the ability to ramp up to 300,000 a year, depending on market dynamics. The automaker delivered just 9,689 cars in the first three months of the year, against its annual 100,000 target. It sold 34,855 vehicles in 2023.

Besides, the company is also planning a battery manufacturing plant  in India, and has also set up a Vietnam battery joint venture with Gotion High-Tech Company.