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Vietnam’s VinFast eyes over $200 million capital investments in California -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Workers in VinFast’s factory, Hai Phong City in Vietnam. April 22, 2021. REUTERS/Thanh Hue

HANOI, (Reuters) – VinFast, a Vietnamese automaker said Friday that it would invest more than $200 million and establish its U.S. headquarters in California in its expansion plan in North America.

VinFast was Vietnam’s automobile arm, and it became the first country-wide car manufacturer after its petrol-powered models were launched under its banner in 2019.

The company stated that it plans to launch in the U.S. two electric SUVs, and open 60 showrooms throughout the country next year.

VinFast stated that it would keep an eye out for a possible manufacturing plant in the U.S.

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