Vietnamese carmaker VinFast is in talks to increase local procurement ratio as it opens its first factory in India.

Pham Sanh Chau, CEO of VinFast Asia, the Vietnamese electric vehicle manufacturer, said on Monday that the company is in talks with multiple component manufacturers to source more parts from India. Speaking at the opening ceremony of the company's India factory in the southern city of Tuticorin, Chau said that they are negotiating with some existing component suppliers, some of whom are looking to shift part of their production to industrial parks in India. "We have also received inquiries from a Vietnamese manufacturer who wishes to move their plastic production business to support our automotive project," he added, without disclosing the name of the company considering the move.