VinFast is exploring a new electric car venture in talks with Adani Group and Megha Engineering.
VinFast, a Vietnamese electric vehicle (EV) manufacturer, is in discussions with Indian companies Megha Engineering & Infrastructures (MEIL) and Adani Group to partner on its electric car venture in India. The company is considering its options before committing to India’s new EV policy, which offers import tax benefits for investments of $500 million. VinFast is setting up a manufacturing plant in Tamil Nadu and plans to launch its electric cars in 2025. The company is seeking a local partner to navigate India’s regulatory landscape, manage labor relations, and establish a reliable supply chain. While talks are underway, no decisions have been made. Both MEIL and Adani Group have confirmed discussions are taking place, but Adani Group did not provide further comment. VinFast’s hesitation stems from potential stipulations in the EV policy that may not recognize certain investments. The company plans to showcase its vehicles at the Bharat Mobility Expo early next year.
Source: https://economictimes.indiatimes.com/industry/renewables/vinfast-in-talks-with-adani-group-megha-engineering-for-electric-car-venture/articleshow/115516747.cms?from=mdr