Vietnamese electric car company VinFast has invested US$200 million to build a factory in Indonesia: it will be put into operation in 2026 and produce 30,000-50,000 vehicles per year.

According to news on September 22, Vietnamese electric vehicle manufacturer VinFast stated in an F-1 filing submitted to the U.S. Securities and Exchange Commission that it plans to invest US$200 million (IT Home Note: currently approximately 1.462 billion yuan) to build an assembly plant in Indonesia. factory, which will produce 30,000-50,000 vehicles per year.

It is understood that this investment is part of VinFast’s long-term investment plan of US$1.2 billion in the Indonesian market, and it 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 as a key potential market among seven new market clusters for establishing electric vehicle and battery manufacturing facilities.”