New Delhi, April 22 -- VinFast, the Vietnamese electric vehicle maker, has found itself in a confusing situation regarding the applicability of incentives and subsidies under India's newly approved EV policy.
The company's USD 2 billion investment to establish an integrated EV facility in Thoothukudi, Tamil Nadu, has been cast into doubt, reported BL.
During a meeting at the Ministry of Heavy Industries (MHI) on Thursday, attended by Pham Sanh Chau, VinFast India CEO, and stakeholders from major automakers, the CEO expressed confusion about when the benefits would start accruing.
VinFast's leadership had the impression that the incentives would be applicable from the day the company commenced its investment in India, based on their ea...