VinFast has signed an MoU with the Government of Tamil Nadu, India, to secure about 500 acres of land adjacent to its Thoothukudi plant. Separately, EQT has announced that the BPEA Mid-Market Growth Partnership is investing in PropertyMe.
VinFast invests $500m more for Tamil Nadu plant expansion
VinFast has signed an MoU with the Government of Tamil Nadu in India to secure about 500 acres (200 hectares) of land adjacent to its Thoothukudi plant, enabling the Vietnamese EV maker to scale production beyond passenger vehicles.
The land, located in the SIPCOT Industrial Park, will support new manufacturing lines for electric buses, e-scooters and charging infrastructure. Tamil Nadu will facilitate permits and provide utilities, including power, water, roads, drainage, and waste management.
The expansion forms the second phase of VinFast’s existing $2-billion commitment in India. The company plans to invest an additional $500 million to build new workshops and assembly facilities for two-wheelers and buses.
VinFast said the deal strengthens its manufacturing readiness in India—now the world’s third-largest auto market—while boosting localisation, job creation, and workforce training in the region.
Its current Thoothukudi facility spans 400 acres (160 hectares) with an initial annual capacity of 50,000 EVs, which is being ramped up to 150,000 units. The company’s distribution network is growing, with 24 dealers already operating in major cities and a target of reaching 35 by the end of the year.
EQT invests in cloud-based proptech company PropertyMe
Swedish investment firm EQT has announced that the BPEA Mid-Market Growth Partnership (MMG fund) is investing in PropertyMe, a cloud-based proptech company in Australia and New Zealand.
The transaction will see EQT become the majority investor in PropertyMe, partnering with the company’s founders, who will retain a significant minority stake.
Founded in 2013 and headquartered in Sydney, PropertyMe offers an all-in-one, cloud-based platform that helps property managers and real estate agencies streamline their workflows, from trust accounting and compliance to maintenance tracking and tenant communications.
PropertyMe claims that its platform is used by more than 6,000 agencies to manage approximately 1.9 million rental properties, making it the largest property management software provider in Australia and New Zealand by number of properties managed.
Agencies collectively transact almost $40 billion through PropertyMe each year, including $2.4 billion directly through PropertyMe’s own MePay payments platform.
