THOOTHUKUDI, India, Aug 4 (Reuters) - Vietnamese
electric vehicle maker VinFast is in talks with several
component manufacturers as it looks to source more from India,
the company's Asia CEO said on Monday.
The firm is in discussions with several of its current
component suppliers, and some want to shift part of their
production to the industrial park in India, VinFast Asia CEO
Pham Sanh Chau told Reuters on the sidelines of the inauguration
of its Indian plant in the southern city of Thoothukudi.
Global manufacturers are increasingly looking to
diversify their supply chains by shifting production to India,
as rising geopolitical tensions, trade restrictions, and cost
pressures make China less attractive as a sole manufacturing
base.
"We also have an inquiry from (a manufacturer in) Vietnam
who would love to shift their plastic production to support our
car," he added, though he did not provide names of companies
considering the shift.
VinFast plans to roll out cars to showrooms in India later
this month, he said. The pricing and exact launch date have not
yet been disclosed.
Last year, VinFast and Tamil Nadu state agreed to work
towards an investment of up to $2 billion, with an intended
commitment of $500 million for the first five years. The plant
is expected to have an annual production capacity of up to
150,000 vehicles.
Chau also said the Indian plant had received orders from Sri
Lanka, Nepal, Mauritius and these initial overseas orders were
positioning the India facility to become an export-oriented
manufacturing hub, though the firm's immediate focus remained on
meeting demand from Indian customers.
VinFast has set a global delivery target of 200,000 cars for
2025, having sold about 72,100 units in the first half of the
year, primarily in its home market.