When Vietnamese electric vehicle (EV) brand VinFast started out, it wanted to succeed first not at home but in the US and Europe. An ambitious aim to be sure, and one which has not been achieved. Plans to open a factory in South Carolina have stalled and may well be cancelled, although the factory is still officially due to open in 2028. With the Vietnamese market now also failing to generate substantial volumes, VinFast has turned to India and Indonesia as new manufacturing bases from which it hopes to build a sustainable presence in the market.
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