Exclusive: Vietnamese EV maker VinFast considers delaying $4 bln US plant, source says | Reuters
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Carl Robinson
May 30, 2024, 6:21:19 AMMay 30
to Vietnam Old Hacks
The woes of VinFast continue. We're back in Saigon, by the way, and had our first ride - a hire car from the airport - just today and pleasantly surprised at the quality and operation of the more luxurious VF8 model. (Also first time in an EV.) Biggest problem, really, is lack of self-pride among Vietnamese themselves (everything foreign is better) and also a 50% sales tax of vehicles, even locally made ones. A lot have ended up as taxis for a VinFast subsidiary but you do see them around. (They also make motorbikes.) But this remains quite a Quixotic Dream for the founder of Vietnam's largest land developer. Its stock market launch rose and fell and now that North Carolina factory isn't looking too good despite hopes of getting some Biden green money.
Carl
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