VinFast's TN investment won't qualify for benefits under the scheme to promote manufacturing of EVs as it was capitalized before approval.
The application window for the scheme will open for 120 days in a couple of weeks.
VinFast, Mercedes, Skoda Auto, Hyundai, and Kia show interest in participating in the electric vehicle incentive scheme in India.
VinFast plans to set up a $2 billion electric vehicle plant in Tamil Nadu, eyeing a launch in India before the festival season with targets to export to the Middle East and Africa.