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VinFast to build second production plant in Vietnam

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VinFast, the Vietnamese electric vehicle (EV) maker, has announced plans to construct a second production plant in Vietnam, with construction set to begin in 2024. This new facility, located in the northern province of Haiphong, aims to increase VinFast's production capacity to 300,000 vehicles annually, up from the current 250,000. The expansion is part of VinFast's strategy to meet growing demand for EVs both domestically and internationally. The company, which is backed by Vietnam's largest conglomerate Vingroup, has been aggressively expanding its footprint, including plans for a factory in North Carolina, USA. This move comes amidst a backdrop of increasing competition in the EV market and VinFast's efforts to establish itself as a significant player globally.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/autos-transportation/ev-maker-vinfast-build-second-production-plant-vietnam-2024-12-08/ ]