Key points:
- VinFast postpones $4 billion North Carolina factory launch to 2028.
- Company reduces 2024 delivery forecast by 20,000 units due to market uncertainties.
Vietnamese electric vehicle maker VinFast has postponed the launch of its $4 billion North Carolina factory to 2028, citing global EV market uncertainties. Additionally, the company has reduced its delivery forecast for this year by 20,000 units, now aiming to deliver 80,000 vehicles.
Despite a 24% increase in second-quarter sales, VinFast is adopting a cautious outlook due to economic headwinds. The delay allows VinFast to optimize capital allocation and focus on short-term growth. The company, which has yet to turn a profit, reported a $618 million net loss in the first quarter.