VinFast, a Vietnamese automaker, announced on Friday that as part of its strategy to expand operations in North America, it will invest more than $200 million in cash and establish a headquarters in California.
When its gasoline-powered vehicles made under its own brand reached the streets in 2019, VinFast, the automobile arm of Vietnam’s largest conglomerate Vingroup, became the country’s first fully-fledged domestic car maker.
It plans to launch two battery-electric SUVs in the United States next year, as well as 60 showrooms around the country, according to the firm.
VinFast has stated that it will monitor the prospect of establishing a manufacturing facility in the United States.
