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VinFast bolstered by US$810m onshore parts hub

The project aims to raise VinFast’s localisation rate to 80% in Vietnam by 2026, cutting the automaker’s reliance on imports. By Stewart Burnett

Electric vehicle (EV) maker VinFast’s parent company, VinGroup, has received approval to build an industrial hub worth VND 21.4tr dong (US$810m) in Ha Tinh province, designed to lease factories to EV component suppliers. The project will provide infrastructure and facilities for firms producing parts and materials to support VinFast.

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