Vietnamese electric vehicle manufacturer VinFast stated in an F-1 filing submitted to the U.S. Securities and Exchange Commission that it planned to invest US$200 million in Indonesia. Build an assembly plant that will produce 30,000-50,000 vehicles per year.
It is understood that the investment is part of VinFast’s long-term investment plan of US$1.2 billion in the Indonesian market, with plans to expand in seven Asian markets including India and Malaysia.
“We plan to start delivering electric vehicles in Indonesia in 2024, including the right-hand-drive models VF e34 and VF 5, followed by the VF 6 and VF 7,” VinFast said in a statement. “Due to the relatively low cost of domestic raw materials With sufficient supply, we have also identified Indonesia among seven new market clusters as a key potential market for establishing electric vehicle and battery manufacturing facilities.”
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