Andhra Pradesh CM Invites VinFast to Set up EV Manufacturing Plant in the State

Andhra Pradesh Chief Minister N Chandrababu Naidu met VinFast's Chief Executive Officer (CEO), Pham Sanh Chau, on Wednesday. He invited VinFast to set up electric vehicles and battery manufacturing plants in Andhra Pradesh, emphasizing the state's readiness to welcome them. Chandrababu Naidu added that the Industries Department has been instructed to facilitate their visit to suitable land parcels, demonstrating the state's proactive approach.

Andhra Pradesh CM N Chandrababu Naidu meets the CEO of VinFast, Mr. Pham Sanh Chau.

Vinfast recently started the construction of an integrated electric vehicle manufacturing unit in Thoothukudi, Tamil Nadu. The EV manufacturing facility spans 408 acres in the SIPCOT Industrial Complex at Sillaanaththam, near Thoothukudi. Furthermore, the company anticipates a production capacity of 150,000 vehicles annually and expects the facility to create around 3,000–3,500 jobs. VinFast will invest around USD 500 million for the next five years.

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Andhra Pradesh is a growing EV hub with several major automotive and component manufacturers that have already set up operations in the state, including Isuzu Motors India, Hero MotoCorp, Kia Motors India, Apollo Tyres, and Bharat Forge1. These companies are pivotal in transforming the state into a central hub for global EV manufacturing.

Andhra Pradesh’s EV Policy

Andhra Pradesh EV policy 2018 targets an investment of around USD 3.5 billion (INR 30,000 crore) in the EV market by 2030. Under the Electric Mobility Policy, the Government approved the following benefits, covering major areas like manufacturing, charging infrastructure, demand creation, and research and development to make projects in these areas viable.  

Additionally, the policy aims to bring in manufacturing units of high-density battery energy storage with at least 10 GWh capacity.

The policy also supports the developers of EV clusters and suppliers. Manufacturing Centers will receive financial assistance of 50% of fixed capital investments for basic infrastructure. Under this policy, the government will allocate 500 to 1,000 acres of land for EV Parks.

Read: Tata Power Makes Karnataka EV ready with 220 RFID Enabled EV-charging Points Across State

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