VIETNAM'S VINFAST WILL SET UP EV BATTERY PLANT IN INDIA

Vietnamese electric vehicle maker VinFast is set to open its first Indian manufacturing facility, where it will make batteries, in the southern state of Tamil Nadu. The company will make batteries for EVs at the plant in the city of Thoothukudi, one of the people said, adding that this was separate from its previously announced plans to assemble vehicles shipped in parts from Vietnam.

VinFast, which competes with carmakers such as Tesla (TSLA.O) and China's BYD (002594.SZ), declined to comment. An announcement by the company on the new plant is expected in coming days.

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