Mr. Gautam Adani, the second richest billionaire in India and the 23rd richest in the world, said he discussed with Chairman of the Board of Directors of Vingroup Corporation Pham Nhat Vuong about potential investment opportunities.
The two billionaires met at the Adani Group headquarters in India on the afternoon of November 8. Afterwards, Mr. Gautam Adani posted a photo with Mr. Pham Nhat Vuong on social network X (formerly Twitter).
The Indian billionaire said he was happy to meet and discuss with billionaire Pham Nhat Vuong about potential opportunities between India and Vietnam. Mr. Gautam Adani said he was inspired by Mr. Vuong's impressive entrepreneurial journey and assessed the Vingroup boss as a visionary leader.
“From instant noodle business to producing many electric vehicle models and battery technology for Vingroup’s global shift towards green mobility. All were completed in record time,” wrote Mr. Gautam Adani.
Mr. Gautam Adani's post on social network X.
Speaking to Tien Phong reporter, Vingroup representative said the meeting was for the two billionaires to discuss cooperation opportunities in Vietnam and India. India is one of the markets that VinFast has announced its expansion strategy to, such as Indonesia, Malaysia and Middle Eastern countries.
Previously, according to AutoCar India - an Indian automobile magazine, VinFast may be considering buying Ford's factory in Chennai, India. This newspaper quoted a source saying: "VinFast is looking for a car manufacturing plant with a minimum capacity of 100,000 cars/year and has targeted several locations in Gujarat and Tamil Nadu."
Ford’s Chennai plant has a capacity of up to 210,000 units per year, much higher than VinFast’s wishes. However, the magazine believes that the plan to buy Ford’s factory could help the Vietnamese electric car maker save significantly compared to building a new production facility; that plan would not only help VinFast take the initiative in the Indian market but could also serve as an export base for right-hand drive markets in the second half of this decade.
Recently, VinFast has also started recruiting for a number of positions in India. Although the official timeline for operations is not yet clear, VinFast is said to be accelerating and may begin sales operations in 2024.
VinFast will sell imported cars (CBU), then assemble them domestically (CKD). A few months ago, the VF8 model was also tested in India.
Billionaire Gautam Adani started his career and made his fortune from agriculture and coal and is actively expanding into many other fields. In 1988, he founded Adani Enterprises, a subsidiary of the Adani Group and is now India's largest coal trading company.
According to Forbes, Mr. Gautam Adani is currently the 23rd richest person in the world with a net worth of over 52 billion USD. He is the owner of Adani Group with a business line spanning from seaports, airports, power transmission to green energy. Meanwhile, Mr. Pham Nhat Vuong is the richest person in Vietnam with a net worth of 4.5 billion USD and is the head of Vingroup Corporation.
According to Tien Phong
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