Vietnam’s Vingroup has signed an MoU with the Maharashtra government to explore investments worth $6.5 billion across urban infrastructure, electric mobility, and renewable energy, marking a deeper push into India’s growth markets.
The proposed investments include $5 billion for integrated townships spanning about 1,000 hectares around Mumbai, and $1.5 billion toward deploying up to 60,000 electric vehicles through a mobility-as-a-service platform. The group will also explore renewable energy and social infrastructure projects across education, healthcare, and transport.
“This marks a step in our long-term strategy to build an integrated ecosystem spanning urban development, mobility, and green energy in India,” said Pham Sanh Chau, CEO of Vingroup Asia.
Chief Minister Devendra Fadnavis said the scale of investments would “enhance urban infrastructure, boost sustainable mobility, and create large-scale employment opportunities” in the state.
The Maharashtra government, through MMRDA and the industries department, will support land identification, approvals, and infrastructure linkages to facilitate the projects.
Calling India a strategic priority, Vingroup said the agreement builds on its expanding footprint across key states.