Vietnam’s VinFast eyes over $200 mln capital investments in California

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.