VinFast to Open India Plant by June-End

VIETNAMESE ELECTRIC VEHICLE maker VinFast plans to open a car assembly plant in India by the end of June and another one in Indonesia in October, its chief Pham Nhat Vuong said on Thursday, as the company shifts its focus to Asia.

- REUTERS

The loss-making startup had initially planned to focus on America for its foreign sales, but slow progress in the US, even before growing uncertainty caused by US tariffs, pushed the company to change strategy.

"In the near future, apart from the Vietnamese market, we will focus more on Indonesia, India, and the Philippines markets," Vuong told shareholders of VinFast's parent company Vingroup.