AsianFin -- Vietnamese automaker Vinfast is set to break ground Monday on a $500 million electric vehicle manufacturing facility in Tamil Nadu, southern India, marking the first phase of a planned $2 billion investment in the country and signaling broader ambitions across Asia.

The Thoothukudi plant will initially produce 50,000 electric vehicles annually, with capacity to scale up to 150,000 units. Positioned near a key port in one of India’s most industrialized states, Vinfast aims to leverage the factory as a strategic export hub for the region. The company expects the project to generate over 3,000 local jobs.