Vingroup is doubling down on infrastructure and clean energy, while VinFast is positioning its India plant as a future export hub with early orders from Sri Lanka, Nepal, and Mauritius.
Vietnamese conglomerate Vingroup is making big infrastructure moves at home while its electric vehicle unit, VinFast, looks abroad, especially to India, for growth and manufacturing scale.
In the latest filing, Vingroup stated that it will invest approximately $14.3 billion (373.84 trillion dong) in the construction of a large seaport and logistics center in the northern port city of Haiphong, Bloomberg reported.
Construction work will take place in three phases from 2026 to 2040. The company expects to fund 15% of the project using its own capital and raise the remaining 85% from external sources.
The move adds to Vingroup’s broader expansion plans.
In April, Vingroup broke ground on a coastal tourism and urban development complex near Ho Chi Minh City, with an investment capital of approximately 282.8 trillion dong. It aims to achieve 25.5 gigawatt-hours of renewable and liquefied natural gas (LNG) power capacity by 2030.
VinFast, Vingroup’s electric vehicle unit, is also making a big bet on India as a sourcing hub and potential future export destination.
At the inauguration of its new plant in Thoothukudi, VinFast Asia CEO Pham Sanh Chau told Reuters the company is actively speaking with existing component suppliers, some of whom are exploring a partial shift of their operations to India.
He also mentioned that a Vietnamese plastic manufacturer has expressed interest in relocating its production to support VinFast’s operations in India.
VinFast is expected to begin delivering its vehicles to Indian showrooms later this month, though pricing and launch details haven’t been announced.
The company previously signed a deal with the southern Indian state of Tamil Nadu — home to “India’s Detroit” automobile hub of Chennai — targeting a $2 billion investment, including a $500 million commitment over the first five years, to set up operations in the state. The plant will eventually be capable of producing up to 150,000 EVs annually.
The India facility is already attracting attention beyond local borders, according to Chau’s statements to the media.
Chau said VinFast has received initial orders from Sri Lanka, Nepal, and Mauritius, signaling that the factory could soon become an export hub, even as it focuses first on serving domestic demand.
Globally, VinFast aims to deliver 200,000 vehicles by 2025, which represents more than a doubling from last year. In the first half of this year, it sold around 72,100 units, mainly in Vietnam.
On Stocktwits, retail sentiment for VinFast was ‘bearish’ early Monday amid ‘low’ message volume.
VinFast’s U.S.-listed stock has declined 19.3% so far in 2025.
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