VinFast puts the brakes on manufacturing some cars in India, sources and memo say
NEW DELHI: VinFast has suspended plans to manufacture three electric vehicles in India and ordered suppliers to halt work on the projects while it reassesses costs, according to two sources and a company memo reviewed by Reuters - a year after the Vietnamese automaker entered a crucial growth market. The manufacturer has asked suppliers to “hold all activities” on three programmes, including a two-door SUV called VF3 - expected to be its most competitive model in the market - and the VF6 and VF7 SUVs, which it imports as kits from Vietnam and assembles in the country. India’s top car maker Maruti Suzuki launches maiden EV India expansion setback The suspension marks another setback for loss-making VinFast, which has turned to India for growth after facing difficulties gaining market share in the U.S. and Europe. The suspension of plans to locally manufacture the three vehicles in India has not been previously reported. Vinfast opened its first factory outside Vietnam in southern India last year and pledged to invest $2 billion, as it sought to build a regional manufacturing base serving South Asia, the Middle East and Africa. VinFast did not directly address whether it suspended lo
NEW DELHI: VinFast has suspended plans to manufacture three electric vehicles in India and ordered suppliers to halt work on the projects while it reassesses costs, according to two sources and a company memo reviewed by Reuters - a year after the Vietnamese automaker entered a crucial growth market. The manufacturer has asked suppliers to “hold all activities” on three programmes, including a two-door SUV called VF3 - expected to be its most competitive model in the market - and the VF6 and VF7 SUVs, which it imports as kits from Vietnam and assembles in the country. India’s top car maker Maruti Suzuki launches maiden EV India expansion setback The suspension marks another setback for loss-making VinFast, which has turned to India for growth after facing difficulties gaining market share in the U.S. and Europe. The suspension of plans to locally manufacture the three vehicles in India has not been previously reported. Vinfast opened its first factory outside Vietnam in southern India last year and pledged to invest $2 billion, as it sought to build a regional manufacturing base serving South Asia, the Middle East and Africa. VinFast did not directly address whether it suspended lo
