The three-year-old unit of conglomerate Vingroup JSC will start building its VF8 sport utility vehicle next week, its own EV batteries in August, and a US$4 billion US factory by summer-end, Le Thi Thu Thuy said in an interview.
The CEO said she planned to spend more time in Singapore, where VinFast is buying a building, turning its holding company into an operating hub that would include an office and housing for staff and executives. Parent Vingroup is Vietnam's largest listed company by market capitalisation, with businesses in retail, real estate and resorts. It created VinFast in 2019 to build conventional petrol-powered cars before switching exclusively to EVs in 2021.
Alongside its VF8, it has also been developing the larger VF9, though that was delayed by about a month because of the impact of COVID-19 containment measures in Shanghai on suppliers, Thuy said. The automaker also plans to build a plant in North Carolina where it is seeking government financing, with construction starting by summer-end and production beginning in 2024.
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