Reuters: VinFast wants to invest $1.2 billion in Indonesia
Báo Dân trí•13/09/2023
(Dan Tri) - According to Reuters, VinFast is planning to expand its market in Asia, including Indonesia. This electric car company aims to deliver from 2024 and may build a factory there in 2026.
In a filing with the US Securities and Exchange Commission, VinFast aims to invest about $1.2 billion in the Indonesian market in the long term, Reuters reported. Of that, $200 million will be used to build a factory in the country with an output of about 30,000-50,000 vehicles per year. Indonesia, one of Southeast Asia's largest economies , is also trying to attract global electric vehicle manufacturers. The country has abundant supplies of nickel, a key ingredient in electric vehicle batteries. If the plan is implemented, the factory in Indonesia will be VinFast's third. The carmaker currently has a main factory in Hai Phong City and a new factory in North Carolina (USA).
Model of electric car factory in North Carolina (Photo: Paultan).
VinFast also said it plans to expand its facilities in India, Malaysia, the Middle East, Africa, Europe, etc. to establish distribution units and open more showrooms. Recently, at the ASEAN Business and Investment Summit (ASEAN BIS) in Jakarta, VinFast CEO Le Thi Thu Thuy shared that the growing electric vehicle ecosystem in Southeast Asia will help boost the company's growth potential. Thuy said that VinFast can import all components from Southeast Asia. "We can definitely make ASEAN's electric vehicle industry strong and export electric vehicles to the rest of the world ," said VinFast CEO.
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