Tesla rival VinFast plans to open a car assembly plant in India by end-June: Report
[ad_1] VinFast, which continues to operate at a loss, had previously concentrated on American expansion. (File photo) Elon Musk-led Tesla’s rival VinFast, the Vietnamese electric vehicle manufacturer, intends to establish vehicle assembly facilities in India by June's end and in Indonesia in October. Pham Nhat Vuong, the CEO of VinFast made this announcement on Thursday signalling the company's strategic pivot towards Asian markets.VinFast, which continues to operate at a loss, had previously concentrated on American expansion. However, due to delayed progress in the United States and additional uncertainties surrounding U.S. tariffs, the firm has altered its strategic direction, according to a Reuters report."In the near future, apart from the Vietnamese market, we will focus more on Indonesia, India, and the Philippines markets," Pham Nhat Vuong informed Vingroup shareholders."At the moment, VinFast is not planning to boost sales in the United […]