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Vietnam electric vehicle maker’s US factory possibly delayed: Reuters

VinFast’s North Carolina factory may be delayed according to a person familiar with the matter and reported by Reuters. The factory was announced in 2022 at an estimated cost of US$4 billion and was scheduled for completion in July of this year. This deadline was then pushed back to 2025.

Work started on the North Carolina right around the same time that VinFast shipped its first electric vehicles to the United States. VinFast’s electric vehicles, however, have not been popular in the US and have received some pretty damning reviews. Furthermore, the company is also being sued for alleged disclosure violations, patent infringement, and unpaid rent, and the National Highway Traffic Safety Administration in the US is investigating a car crash in California in which four people died when the VinFast car they were driving crashed into a tree.

In this context, a delay in forking out US$4 billion for a factory may be prudent.

See also: Insolvency in Vietnam 2024: Unpacked

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