VinFast's Rs 16 Billion EV Plant Not Eligible for Incentives

04 Jun 2025 CW Team

Vietnam-based electric vehicle (EV) maker VinFast’s Rs 160 billion (USD 2 billion) investment in Tamil Nadu will not qualify for benefits under India’s recently launched Scheme to Promote Manufacturing of Electric Passenger Cars, officials confirmed on Monday.

The government clarified that to be eligible for incentives, investments must be capitalised only after formal approval under the scheme. Existing capital expenditures—such as VinFast’s ongoing work in Thoothukudi—do not meet the criteria, as the equipment and machinery must be put to use post-approval.

“They have already capitalised their investment and will not qualify under the current terms,” said an official, adding that VinFast would need to make a fresh investment of Rs 4.15 billion to become eligible. The company had appealed for consideration of its existing investment but the request was declined.

VinFast, a subsidiary of Vingroup, is preparing to launch its VF6 and VF7 models in India ahead of the upcoming festive season and plans to scale up local production to 150,000 EVs annually, targeting exports to the Middle East and Africa. It is also exploring expansion into Andhra Pradesh and Telangana.

As per the scheme guidelines notified on 15 March 2024, approved applicants will be allowed to import completely built electric cars (CBUs) with a minimum CIF value of USD 35,000 at a reduced customs duty of 15 per cent for a period of five years from the date of approval. The scheme mandates a minimum investment of Rs 4.15 billion by each applicant.

The application window for the scheme is expected to open in the coming weeks and will remain open for at least 120 days.

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..