Channel NewsAsia
Channel NewsAsia
AsiaPac · 21 mins ago

Exclusive-VinFast puts the brakes on manufacturing some cars in India, sources and memo say

NEW DELHI, Sept 1 : 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 EXPANSION SETBACKThe 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 t
Channel NewsAsia
Do you trust Channel NewsAsia?
Sign in to rate
Discussion
?

No comments yet — be the first to start the discussion!