{"id":60269,"date":"2023-09-13T02:42:10","date_gmt":"2023-09-13T06:42:10","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/ev-maker-vinfast-plans-asia-expansion-to-launch-indonesia-plant-in-2026\/"},"modified":"2023-09-13T02:42:13","modified_gmt":"2023-09-13T06:42:13","slug":"ev-maker-vinfast-plans-asia-expansion-to-launch-indonesia-plant-in-2026","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=60269","title":{"rendered":"EV maker VinFast plans Asia expansion, to launch Indonesia plant in 2026"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: People walk next to a VinFast logo on a screen during the press day at the Los Angeles Auto Show in Los Angeles, California, U.S. November 17, 2022. REUTERS\/Mike Blake\/File Photo\/File Photo<\/span>
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HANOI (Reuters) – Vietnamese electric vehicle maker VinFast (NASDAQ:) plans to expand in seven more markets in Asia including Indonesia, where it aims to start deliveries from next year and establish a plant there in 2026.<\/p>\n

VinFast aims to invest around $1.2 billion in the Indonesian market in the long-term, according to its latest filing to the to U.S. Securities and Exchange Commission. <\/p>\n

Of that, $200 million would be for its Indonesian plant, targeting production in 2026 with an output of 30,000 to 50,000 units each year. <\/p>\n

Indonesia, a country of 270 million people and Southeast Asia’s biggest economy, is on a drive to attract global EV makers, touting its abundant supplies of nickel, a key component of EV batteries. <\/p>\n

The Indonesian facility will be VinFast’s third besides its main one in northern Vietnamese city of Haiphong, and a new plant in North Carolina, slated to start in 2025.<\/p>\n

The EV maker, which made its Nasdaq debut last month, also said it plans to create a presence in India, Malaysia, the Middle East, Africa and Latin America and expand its presence in Europe.<\/p>\n

It aims to establish its own distributors and may open showrooms in those locations, it said in the filing.<\/p>\n

VinFast was formed as a unit of Vietnam’s largest conglomerate Vingroup in 2017. It started EV deliveries in California in March. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: People walk next to a VinFast logo on a screen during the press day at the Los Angeles Auto Show in Los Angeles, California, U.S. November 17, 2022. REUTERS\/Mike Blake\/File Photo\/File Photo HANOI (Reuters) – Vietnamese electric vehicle maker VinFast (NASDAQ:) plans to expand in seven more markets in Asia including […]<\/p>\n","protected":false},"author":1,"featured_media":5160,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-60269","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nEV maker VinFast plans Asia expansion, to launch Indonesia plant in 2026 | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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