Vietnam

Vingroup will also examine opportunities in renewable energy through VinEnergo, aligned with India’s energy transition plans.

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Vietnam-based Vingroup on Friday signed a memorandum of understanding (MoU) with the Government of Maharashtra to invest $6.5 billion across multiple sectors in the state, spanning electric mobility solutions, social and public infrastructure, tourism and entertainment. However, on April 08, 2026, the Vietnamese automaker had proposed to invest $8.5 billion in Maharashtra as per the state’s chief minister.

According to the latest official statement, the agreement establishes a framework for collaboration with the Mumbai Metropolitan Region Development Authority and the Department of Industries, Government of Maharashtra, covering projects in the Mumbai Metropolitan Region and other parts of the state.

Under the agreement, Vingroup will explore the development of integrated urban townships across about 1,000 hectares, with an estimated investment of $5 billion. These projects will include residential, commercial, education and healthcare components.

In electric mobility, the company, through GSM India, plans to deploy an electric taxi fleet of about 60,000 vehicles, with an investment of around $1.5 billion. The project is expected to be implemented over three to five years.

Vingroup will also examine opportunities in renewable energy through VinEnergo, aligned with India’s energy transition plans.“The signing of this MOU with Maharashtra marks another step in the well-defined and long-term strategy of Vingroup in India,” said Pham Sanh Chau, CEO of Vingroup Asia.

Support from state government

The Maharashtra government will support the proposed projects through land identification, planning, regulatory approvals and infrastructure provision, in line with existing policies.Devendra Fadnavis, Chief Minister of Maharashtra, said, “This MOU marks a landmark moment in Maharashtra’s development journey. The scale and scope of the proposed investments by Vingroup will significantly enhance our urban infrastructure, boost sustainable mobility, and create large-scale employment opportunities.”Vingroup is also exploring projects in education, healthcare, public transport and tourism through its group companies.The company has previously signed similar agreements with Telangana and Tamil Nadu as part of its expansion plans in India.

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