Vietnam's Vinfast is to set break ground on a $500 million electric vehicle plant in India’s Tamil Nadu, part of a larger $2 billion investment to expand into Asian markets

Vietnamese electric vehicle maker VinFast Auto Ltd. sees its new India factory as key to entering South Asia, the Middle East and Africa, Asia Chief Executive Officer Pham Sanh Chau said, as it begins a $500 million push to crack the world’s third-biggest car market.

VinFast inaugurated its new electric vehicle (EV) assembly plant on August 4 at SIPCOT Industrial Park in Tamil Nadu, India.