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VinFast Pushes Ahead With Asia Expansion Even as EV Growth Slows
- India plant to open ahead of schedule, founder Vuong says
- Vietnamese upstart has struggled after entering US market
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Vietnamese carmaker VinFast Auto Ltd. is pushing ahead with expansion across Asia, with founder Pham Nhat Vuong undeterred by slowing electric vehicle demand and a tepid start to the company’s foray into the US.
VinFast expects to open its India factory in the first half of next year — six months earlier than initially planned — and begin construction of an Indonesia plant within the next two months, Vuong said in an interview at the Hanoi headquarters of parent company Vingroup JSC on Wednesday.