VinFast to Develop 1,000-Acre Smart City in Hyderabad

Vietnamese electric vehicle manufacturer VinFast is planning a major project to establish a 1,000-acre smart city in Hyderabad. Sources from ET Auto report that VinFast is currently exploring options around the city. A delegation from VinFast India, led by CEO Pham Sanh Chau, met with Telangana's Minister of IT, Electronics, Communications, Industries & Commerce, D. Sridhar Babu, to discuss this ambitious venture.

The discussions focused on large-scale public infrastructure, sustainable urban mobility solutions, services for future cities, and social housing. This initiative aims to address the anticipated population surge in Hyderabad, which is expected to house half of Telangana's population within the next 15 years. The Minister highlighted the pressing need for reliable partners to help enhance the city's infrastructure and living standards sustainably.

VinFast's significant investment of INR 4,000 crore (approximately USD 500 million) in an EV manufacturing plant in Tamil Nadu underscores their commitment to India's market. The company plans to launch its first locally assembled car by the 2025 festive season, priced between INR 25-30 lakh, targeting the premium affordable segment with a range of 300-500 km.

VinFast will outline its future plans at the Bharat Mobility Global Expo, scheduled for January 17-22, 2025. This event will mark a pivotal moment for VinFast as it continues to expand its footprint in India's growing EV market.

News by Rahul Yelligetti