Vietnam's Vinfast plans to invest $4b in electric vehicle factory in the US

Vietnam's Vinfast plans to invest $4b in electric vehicle factory in the US

Photo: Reuters

Vietnam’s automaker VinFast said on Tuesday it has signed a preliminary deal to initially invest $2 billion to build a factory in North Carolina to make electric buses, sport utility vehicles (SUVs) along with batteries for EVs.

The unit of Vietnam’s biggest conglomerate Vingroup, said it plans to have a total investment of $4 billion in its first U.S. factory complex.

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