[cba123]

I do not like this, at all.

This is just from today, hopefully VinFast gets this resolved.

VinFast was one of the two major car brands (the other being Tesla) I was enthusiastically watching for their new compact car the VF3, to be made in America, beating all the Chinese imports which will face large import duties.

Now I am not so sure.

[marktwain]

Electric car company. Says they do not see the demand for electric cars in the USA.

Surprise, Surprise!

[armourenthusiast]

I could have told ya that a communist vietcong toy electric car company might be some kind of grift.

[Sacajaweau]

Tesla...Not sure Tesla is the way Musk wants to make his money or spend his time on EVs at this point in time. I think Musk is pondering.

[quantim]

Ford did basically the same thing last year, should have been a signal.  The EV market has finally crashed as it should as it was fake market propped up by your tax dollars.  I don't think that the chicoms will be dumping their trash here as there really isn't a demand.

[qaz123]

The Chinese will build their cheap cars in china and evade all of bidens useless tariffs.

[stateofit]

Vinfast is basically owned by one family who made their fortune in real estate. Their EV sales are not coming close to projections/ needs, 35,000 sold last year (10% of stated capacity) and half of those sold to a sister taxi company. They’re trying to expand sales overseas like the other dozen startup EV companies. Last quarter showed $600,000,000 loss.

The company is leveraged, how high is still the question to sort out. Meanwhile, Vietnam is going through anti-corruption campaign. They just sentenced to DEATH, the country’s largest billionaire for fraud. 80 others are in the mix.

Please read below.
https://www.whitehouse.gov/briefing-room/statements-releases/2022/03/29/statement-by-president-biden-on-electric-vehicle-and-battery-manufacturing-investments-in-north-carolina/

My bet, this NC plant will never get built. The hype will fade away. In about five years, someone will scoop in and build a horse farm on 1,000 acres of cleared land. They’ll probably get environmental credits to fix the mud pit sitting there now.