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…
VinFast has halted manufacturing three electric vehicles in India, according to company sources and a memo obtained by Reuters. The decision comes a year after VinFast entered India's crucial growth market, and marks a setback for the loss-making automaker. The three models, including a two-door SUV called VF3 and SUVs VF6 and VF7, were planned to be assembled at VinFast's newly opened factory in southern India.
The suspension, however, does not apply to the already-selling VF6 and VF7 models. VinFast has since asked its suppliers to halt all activities related to these projects while reassessing costs. The company plans to continue developing India-specific models rather than importing existing global ones.
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