Vietnam’s top conglomerate Vingroup will invest $6.5 billion in India’s state of Maharashtra, including $1.5 billion in electric mobility.

Vingroup, the Department of Industries under the Government of Maharashtra, and Mumbai Metropolitan Region Development Authority (MMRDA) signed a memorandum of understanding (MoU) for the investment, Maharashtra Chief Minister Devendra Fadnavis said on Wednesday. The investment is for infrastructure, mobility, energy, and tourism projects across the Mumbai Metropolitan Region.

A key component of the planned investment is $1.5 billion in electric mobility, supporting India’s push toward cleaner transport and reduced urban emissions. The initiative aims to deploy up to 60,000 electric vehicles, alongside the development of charging infrastructure and a digital mobility platform deployed by GSM India. GSM India is the Indian arm of Green and Smart Mobility JSC, the taxi operator under Vingroup ecosystem.

Beyond mobility, the Vietnamese conglomerate is proposing the development of a 1,000-hectare integrated township in the Mumbai metropolitan region. The project is envisioned as a large-scale urban hub combining residential, commercial, and recreational spaces.

In the tourism and hospitality sector, Vingroup will explore opportunities through its subsidiary Vinpearl, including the potential development of high-end resorts and a world-class amusement park.

The company is also studying renewable energy investments via VinEnergo, aimed at supporting sustainable urban growth and contributing to India’s net-zero ambitions.

Devendra Fadnavis highlighted the projects could generate thousands of jobs across construction, technology, and services, while boosting Maharashtra’s economy to $1 trillion.

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