VinFast to Launch Major Project in Hyderabad.

Vietnamese electric vehicle manufacturer VinFast is planning to set up a 1,000-acre mega smart city project in and around Hyderabad, according to a report by ET Auto.

Citing sources, the report revealed that the company has begun exploring options around the city. A team from VinFast India, led by CEO Pham Sanh Chau, met with Telangana Minister of IT, Electronics, Communications, Industries & Commerce, D. Sridhar Babu, to discuss the project.

"The discussions centered around large-scale public infrastructure projects, sustainable smart urban mobility solutions, services for future cities, and social housing initiatives," the report added.

VinFast recently invested INR 4,000 crore (approximately USD 500 million) to set up an EV manufacturing plant in Tamil Nadu.

"Sources close to the discussions indicated that the Minister noted Hyderabad is expected to become home to half of Telangana's population within the next 15 years due to increased urban migration, putting significant strain on existing infrastructure. He emphasized the importance of finding reliable partners to collaborate on these critical infrastructure projects to ensure the city can sustainably improve the living standards of its growing population," the report further added.

VinFast is expected to launch its first locally assembled car by the 2025 festive season. The vehicle is projected to be priced between INR 25-30 lakh, positioning it in the premium affordable segment of India's expanding EV market, with an anticipated range of 300-500 km.

VinFast is set to officially reveal its future plans at the Bharat Mobility Global Expo, scheduled for January 17-22, 2025.

ET