Vingroup Eyes Maharashtra Smart Cities, Skips Mumbai

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AuthorVihaan Mehta|Published at:
Vingroup Eyes Maharashtra Smart Cities, Skips Mumbai
Overview

Vietnam's Vingroup is expanding its India presence beyond electric vehicles, planning significant smart city developments. The conglomerate is in discussions with the Maharashtra government for land, specifically targeting cities with over 1 crore population and excluding Mumbai. These integrated urban projects will feature homes, hospitals, schools, and electric mobility.

Maharashtra Smart City Push

Vietnam's Vingroup is charting ambitious plans for India, extending its reach into large-scale smart city projects. Senior company officials confirmed ongoing discussions with the Maharashtra government regarding land acquisition for these developments. While a land offer has been made in Pune, Vingroup is specifically looking for urban centers with a population exceeding 1 crore, explicitly stating no interest in projects within Mumbai.

Vingroup's Broader India Ambitions

This strategic move marks Vingroup's commitment to diversifying its footprint in India, moving beyond its burgeoning electric vehicle subsidiary, VinFast. The envisioned smart cities are comprehensive urban ecosystems, integrating residential complexes, healthcare facilities, educational institutions, and advanced electric mobility solutions. This concept mirrors the success of its Vinhomes Smart City in Hanoi. The group's broader India engagement was underscored last year by a $3 billion agreement with the Telangana government for multi-sector cooperation.

VinFast Accelerates EV Plans

Meanwhile, VinFast India, the group's electric vehicle arm, continues its aggressive expansion. Manufacturing of its EVs will remain focused in Tamil Nadu. The company recently signed an agreement to expand its Thoothukudi facility by 500 acres, investing an additional $500 million for electric bus and two-wheeler production. Having already secured a position among India's top four EV makers, VinFast aims to scale its operations by ensuring a robust ecosystem and enablers are in place. Future plans include launching three new models by 2026, featuring multipurpose vehicles and a micro SUV.

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