Mr. Pham Nhat Vuong meets with India's second richest billionaire.

Gautam Adani, India's second-richest billionaire and the world's 23rd-richest, said he has discussed potential investment opportunities with Vingroup Chairman Pham Nhat Vuong.

The two billionaires met at Adani Group's headquarters in India on the afternoon of November 8th. Shortly after, Gautam Adani, India's second-richest billionaire with a current net worth of over $52 billion, posted a photo of himself with Pham Nhat Vuong on social media. He said he was "truly inspired" by the entrepreneurial journey of the Vingroup leader.

"From the instant noodle business to the production of various electric vehicle models and battery technology for a global shift towards green mobility, Vingroup's achievements were all accomplished 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 opportunities for cooperation in Vietnam and India. India is among the markets that VinFast has announced its expansion strategy into, such as Indonesia, Malaysia, and Middle Eastern countries.

Previously, according to AutoCar India, VinFast may be considering acquiring Ford's factory in Chennai (India). The publication cited a source stating that VinFast is looking for a manufacturing plant with a minimum capacity of 100,000 vehicles per year and has targeted several locations in Gujarat and Tamil Nadu.

Ford's Chennai plant has a capacity of up to 210,000 vehicles per year, far exceeding VinFast's expectations. However, the Indian magazine suggests that acquiring Ford's plant could significantly save the Vietnamese electric car manufacturer money compared to building a new production facility. This plan could also serve as an export base for left-hand drive markets in the latter half of the decade.

VinFast has also begun recruiting for several positions in India. The electric car manufacturer is reportedly accelerating its expansion and may begin sales operations in 2024.

Currently, VinFast operates primarily in three markets: Vietnam, North America (USA, Canada), and Europe (France, Netherlands, Germany). Expanding operations to other Asian countries will be a significant milestone in the company's global business development strategy.

Billionaire Gautam Adani started his career and made his fortune in agriculture and coal, and is actively expanding into many other fields. In 1988, he founded Adani Enterprises, a subsidiary of Adani Group, which is now 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 person in Asia. However, after a sharp drop in stock prices, the billionaire's fortune decreased to just over $52 billion, making him the second richest person in India and 23rd in the world. Pham Nhat Vuong is ranked 614th in the world, according to the latest Forbes update.

VinFast is currently the world's leading electric vehicle manufacturer with a diverse product range, offering 7 electric car models from minicars to large SUVs, 9 electric motorcycle models from entry-level to premium, electric buses, electric bicycles, charging stations, and advanced energy solutions from the Vingroup ecosystem.

Minh Son

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