Vingroup Signs Historic $3 Billion MoU with Telangana to Build Smart City and EV Ecosystem
Vietnam’s leading multi-sector corporation, Vingroup, has announced a major strategic partnership with the Government of Telangana, marking a significant expansion of its footprint in India. Signed at the Telangana Rising Global Summit, the Memorandum of Understanding (MoU) outlines a proposed investment of USD 3 billion to develop a comprehensive multi-sector ecosystem within the state.
This collaboration aims to transform the region through projects spanning smart urban development, healthcare, education, and renewable energy, with a strong focus on electric mobility using VinFast vehicles.
VinFast Vehicles to Power India’s First Large-Scale Electric Taxi Fleet
A central pillar of this investment is the transformation of Telangana’s mobility landscape. Vingroup proposes to introduce India’s first large-scale electric taxi fleet through GSM, utilizing VinFast vehicles. This initiative is designed to establish a Mobility-as-a-Service (MaaS) platform that promotes greener transportation options for the public.
While Vingroup has already entered the Indian market with a VinFast plant in Tamil Nadu, this new agreement in Telangana focuses on service deployment and infrastructure. However, the MoU also indicates that Vingroup may explore potential opportunities for EV manufacturing initiatives in the state in the future. This move aligns with the company’s broader vision of bringing the green mobility revolution closer to everyone.
Developing Vinhomes Smart City
Beyond transportation, the partnership includes ambitious plans for urban living. Vingroup intends to develop “Vinhomes Smart City,” a mega urban area spanning 1,080 hectares. Designed to accommodate approximately 200,000 residents, this project will prioritize sustainable urban planning principles with a limited built-up footprint.
The development is expected to generate around 10,000 jobs and will feature a mix of low-rise and high-rise structures alongside international-standard amenities. To support this population, the group proposes developing essential social infrastructure on 70 hectares, including:
- Education: Vinschool’s integrated K-12 education system.
- Healthcare: Vinmec international-standard multi-specialty hospitals.
- EV Infrastructure: The V-Green electric vehicle charging network.
Investments in Tourism and Renewable Energy
The MoU also covers significant investments in tourism and green energy to support the proposed urban ecosystem.
- VinWonders Complex: A 350-hectare integrated tourism and entertainment complex is planned, featuring a theme park, zoo, and safari to boost local tourism and create large-scale employment.
- Solar Power: Through VinEnergo, Vingroup proposes a 500 MW solar farm covering approximately 500 hectares. This facility aims to provide a stable source of green electricity for the industrial zones, urban areas, and the electrified mobility ecosystem.
Government Support and Strategic Vision
The Government of Telangana has committed to facilitating the project by assisting with land allocation, master planning, and administrative procedures. Hon’ble Chief Minister Sri A. Revanth Reddy described the investment as a “massive vote of confidence” in the state’s vision, highlighting the partnership’s role in building a futuristic, net-zero city.
Mr. Pham Sanh Chau, CEO of Vingroup Asia and VinFast Asia, expressed that the collaboration would generate tangible value and improve the quality of life for local residents through Vingroup’s expertise in mega urban developments.
Frequently Asked Questions (FAQs)
What is the total value of Vingroup’s investment in Telangana? Vingroup has proposed an investment of USD 3 billion to be implemented in a phased manner.
Will VinFast manufacture cars in Telangana? The current MoU focuses on introducing a large-scale electric taxi fleet using VinFast vehicles and exploring potential EV manufacturing opportunities in the future. Vingroup already has a plant in Tamil Nadu.
What is included in the Vinhomes Smart City project? The 1,080-hectare project will house approximately 200,000 residents and include Vinschool education systems, Vinmec hospitals, and a V-Green EV charging network.
How much land is being allocated for these projects? The projects cover approximately 2,500 hectares in total, including 1,080 hectares for the smart city, 500 hectares for the solar farm, and 350 hectares for the tourism complex.
What renewable energy plans are part of this MoU? Vingroup proposes investing in a 500 MW solar farm through VinEnergo to power the urban and mobility ecosystems.
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