Vingroup commits $3 bn investment in Telangana

New Delhi: Vietnam’s Vingroup on Tuesday announced plans to invest $3 billion in Telangana to build a multi-sector ecosystem in the state. The commitment was formalised through an MoU signed with the state government at Telangana Rising Global Summit.

Under the agreement, both sides will explore opportunities in smart urban development, electric mobility, healthcare, education, tourism, renewable energy and charging infrastructure across 2,500 hectares. The partnership will also cover electric taxi services to support Telangana’s long-term socio-economic vision.

Vingroup aims to introduce India’s first large-scale electric taxi fleet and a mobility-as-a-service platform using VinFast vehicles through GSM, and may consider future EV manufacturing opportunities.

Chief Minister A Revanth Reddy said the investment reflects strong confidence in the ‘Telangana Rising’ agenda focused on sustainable, green urban growth. He said the partnership will help build a futuristic, net-zero city and improve citizens’ quality of life.

In urban development, the company plans to develop the Vinhomes Smart City mega project for about 2 lakh residents on a 1,080-hectare site, expected to create 10,000 jobs. Plans also include Vinschool’s K-12 education system, Vinmec hospitals, and the V-Green EV charging network.

In tourism, Vingroup will develop a 350-hectare VinWonders entertainment complex, and through VinEnergo, invest in a 500 MW solar farm spread over 500 hectares.