Mr. Gautam Adani, the second richest billionaire in India and 23rd in the world, said he discussed with Vingroup Chairman Pham Nhat Vuong about potential investment opportunities.
The two billionaires met at the Adani Group headquarters in India on the afternoon of November 8. Not long after, Gautam Adani, India's second richest billionaire with a current fortune of more than 52 billion USD, posted a photo with Mr. Pham Nhat Vuong on social network X. He said that he was "truly inspired" by the entrepreneurial journey of the head of Vingroup.
"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," he wrote.
Vingroup Chairman Pham Nhat Vuong and billionaire Gautam Adani.
According to Vingroup, the meeting was for the two billionaires to discuss cooperation opportunities in Vietnam and India. India is among the markets that VinFast has announced its expansion strategy to, such as Indonesia, Malaysia and Middle Eastern countries.
Previously, according to AutoCar India, VinFast may be considering acquiring Ford's factory in Chennai (India). This newspaper quoted a source saying that VinFast is looking for a car manufacturing plant with a minimum capacity of 100,000 cars per 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 expectations. However, the Indian magazine said that the plan to buy Ford’s factory could help the Vietnamese electric carmaker save significantly compared to building a new production facility. This plan could also be used as an export base for right-hand drive markets in the second half of the decade.
VinFast has also started recruiting for several positions in India. The electric carmaker is said to be accelerating and could start sales operations by 2024.
VinFast currently operates mainly in three markets: Vietnam, North America (USA, Canada) and Europe (France, Netherlands, Germany). Expanding operations to other Asian countries will be an important milestone in the company's global business development strategy.
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 Adani Group and is currently the largest coal trading company in India.
2022 was considered a prosperous year for Adani when he surpassed his compatriot Mukesh Ambani to become the richest man in Asia. However, after a sharp decline in stock prices, this billionaire's assets decreased to more than 52 billion USD, making him the second richest person in India and ranked 23rd in the world. Mr. Pham Nhat Vuong is the 614th billionaire in the world, according to the latest update of Forbes.
VinFast is currently the world's leading electric vehicle manufacturer with a diverse product range, with 7 electric car models from minicars to large SUVs, 9 electric motorbike models from popular to high-end, electric buses, electric bicycles, charging stations and advanced energy solutions from the Vingroup ecosystem.
Minh Son
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