Vietnam's VinFast delays US electric car plant amid market slowdown
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Vietnamese electric vehicle (EV) maker VinFast is delaying the launch of its planned $4 billion factory in North Carolina to 2028 and cutting its delivery forecast for this year by 20,000 units. VinFast, founded by Vietnam's richest man Pham Nhat Vuong in 2017, will now deliver 80,000 vehicles this year, down from the initially planned 100,000. Sales at VinFast rose 24% to about 12,000 vehicles in the second quarter. The company expects strong sales growth in the second half of the year and will delay the launch of its North Carolina factory to 2028. VinFast logged a net loss of $618 million in the first quarter and is set to announce its second-quarter results on Aug 15.
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