VinFast Eyes Hyderabad for Mega Smart City Project, Meets Telangana IT Minister
- ByStartupStory | July 26, 2024
Vietnamese electric vehicle (EV) manufacturer VinFast’s India CEO Pham Sanh Chau, along with his leadership team, recently met Telangana’s Minister of IT, Electronics, Communications, Industries & Commerce, D. Sridhar Babu, to explore potential areas of collaboration, according to ETAuto. The discussions centered around large-scale public infrastructure projects, sustainable smart urban mobility solutions, services for future cities, and social housing initiatives.
The meeting highlighted VinFast’s interest in establishing a 1,000-acre mega smart city project in and around Hyderabad. “The company is looking at the possibility of setting up a 1,000-acre mega smart city project in and around Hyderabad and it has begun scouting for options around the city,” a person cited above said.
VinFast’s recent investment of INR 4,000 crore (approximately USD 500 million) in setting up an EV manufacturing plant in Tamil Nadu underscores its commitment to India’s EV market. The company aims to integrate smart mobility and social infrastructure into its projects, aligning with Telangana’s urban development goals.
During the discussions, Minister D. Sridhar Babu emphasized Hyderabad’s rapid urban growth and the challenges it poses. “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 the existing infrastructure. Finding reliable partners to collaborate on these critical infrastructure projects is essential to ensure the city can sustainably improve the living standards of its growing population,” he noted.
In addition to infrastructure projects, VinFast is gearing up for its automotive launch in India. Early this month, ET reported that VinFast is likely to launch its first locally assembled car during the 2025 festive season. The vehicles are expected to be priced in the INR 25-30 lakh range, positioning them in the premium affordable segment of India’s burgeoning EV market. These models are anticipated to offer a range of 300-500 km.
VinFast is set to officially disclose its future plans at the Bharat Mobility Global Expo, scheduled between January 17 and 22, 2025.
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