VOA新闻杂志2024--Vietnam’s EV Maker VinFast Plans Factory in India

Vietnam’s EV Maker¹ VinFast Plans Factory in India

Vietnamese electric vehicle company VinFast recently announced its plans to build a $2 billion production center in southern India.

The new factory is expected to produce up to 150,000 cars per year once it is completed.

The project will include an opening investment² of $500 million. Construction will start this year. The production centers are expected to support over 3,000 jobs in the Tamil Nadu state.

The center will be close to the port city of Thootukudi.

VinFast started in 2017 and has been producing electric vehicles since 2021. It already announced plans for a factory in the southern U.S. state of North Carolina. The factory there will cost $4 billion to complete and vehicle production is expected to begin this year.

VinFast brought its cars to market in the U.S. for the first time in 2023. The cars have not sold well in the U.S. because they have received some bad reviews and there are questions about their quality. VinFast officials, however, believe the company can succeed in the U.S.

The company's stock³ is listed on the Nasdaq stock exchange, and, for a short time, its shares were worth more than Ford⁴ and General Motors. However, by the end of 2023, the company had lost more than $1.4 billion.

VinFast said it hopes to sell its cars in 50 markets by the end of 2024. It announced a $400 million factory in Indonesia late last year. VinFast cars will be used in Laos by Green SM, a taxi company mostly owned by VinFast's founder⁵.

The production center is the first move by VinFast to enter the growing Indian market. The country has one of the fastest-growing electric vehicle markets in the world. India has launched⁶ a $1.3 billion plan to support electric vehicle manufacturing⁷ and use.

However, of the 2.3 million EVs in use in India, most are inexpensive motorbikes, rickshaws and scooters. Some experts wonder if there are enough Indians who have the money to purchase a costly⁸ electric car.

VinFast is part of Vingroup, which was started as an instant noodle company in Ukraine in the 1990s by Pham Nhat Vuong, who is now Vietnam's richest man.

Words in This Story

construction –n. the process of building one or more structures

review –n. a piece of writing that gives the writer's opinion about a product or service

taxi –n. a car that takes passengers to places and usually charges by the distance traveled

inexpensive –adj. not costly; cheap

rickshaw –n. a small, light vehicle that is usually powered by a person or a very small engine

scooter –n. a small, wheeled vehicle for one person

1 maker   

n.制造者，制造商

参考例句：

• He is a trouble maker，You must be distant with him.他是个捣蛋鬼，你不要跟他在一起。
• A cabinet maker must be a master craftsman.家具木工必须是技艺高超的手艺人。

2 investment   

n.投资，投资额；(时间、精力等的)投入

参考例句：

• It took two years before I recouped my investment.我用了两年时间才收回投资。
• The success of the project pivots on investment from abroad.这个工程的成功主要依靠外来投资。

3 stock   

n.存货，储备；树干；血统；股份；家畜；adj.存货的；平凡的，惯用的；股票的；畜牧的；vt.进货，采购；储存；供给；vi.出新芽；进货

参考例句：

• The shop takes stock every week on Friday mornings.这家商店每星期五早晨盘点存货。
• Experts have forecast an upturn in the stock market.专家已预测股票市场价格有上升趋势。

4 Ford   

n.浅滩，水浅可涉处；v.涉水，涉过

参考例句：

• They were guarding the bridge,so we forded the river.他们驻守在那座桥上，所以我们只能涉水过河。
• If you decide to ford a stream,be extremely careful.如果已决定要涉过小溪，必须极度小心。

5 Founder   

n.创始者，缔造者

参考例句：

• He was extolled as the founder of their Florentine school.他被称颂为佛罗伦萨画派的鼻祖。
• According to the old tradition,Romulus was the founder of Rome.按照古老的传说，罗穆卢斯是古罗马的建国者。

6 launched   

v.发射( launch的过去式和过去分词 )；[计算机]开始（应用程序）；发动；开展（活动、计划等）

参考例句：

• He launched a bitter diatribe against the younger generation. 他对年轻一代发起了猛烈的抨击。
• The product was launched amid much fanfare worldwide. 这个产品在世界各地隆重推出。

7 manufacturing   

n.制造业，工业adj.制造业的，制造的v.（大规模）制造( manufacture的现在分词 )；捏造；加工；粗制滥造（文学作品）

参考例句：

• The entire manufacturing process has been automated. 整个生产过程已自动化。
• Manufacturing processes may be affected by the functionality of the product. 生产过程可能要受到产品设计目的的影响。

8 costly   

adj.昂贵的，价值高的，豪华的

参考例句：

• It must be very costly to keep up a house like this.维修这么一幢房子一定很昂贵。
• This dictionary is very useful,only it is a bit costly.这本词典很有用，左不过贵了些。