Vietnam’s VinFast eyes over $200 mln capital investments in California
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VinFast said Friday it will make over $200 million in capital investments and place its U.S. headquarter in California as part of its plan to expand operation in North America.
VinFast, the automobile arm of Vietnam’s largest conglomerate Vingroup, became the country’s first fully-fledged domestic car manufacturer when its gasoline-powered models built under its own badge hit the streets in 2019.
It is aiming to debut in the U.S. with two battery-electric SUVs and inaugurate 60 showrooms across the country next year, the company said.
VinFast has said it will keep an eye on the possibility of a manufacturing facility in the U.S.
Questions & Answers
Q.What is VinFast’s primary goal for expanding its operations in North America?
What is VinFast’s primary goal for expanding its operations in North America?
VinFast aims to debut in the U.S. Market with two battery-electric SUVs and plans to open 60 showrooms across the country next year. This expansion is part of its strategy to grow its presence in North America.
Q.What is VinFast's background as a car manufacturer?
What is VinFast's background as a car manufacturer?
VinFast is the automotive division of Vietnam’s largest conglomerate, Vingroup. It became Vietnam's first fully-fledged domestic car manufacturer when its own brand of petrol cars were released in 2019.
Q.What kind of financial commitment is VinFast making in California?
What kind of financial commitment is VinFast making in California?
VinFast has committed to making over $200 million in capital investments in California. This investment includes establishing its U.S. Headquarters in the state, supporting its North American expansion plans.
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