EV maker VinFast to invest in Philippines this year

January 31, 2024 - 9:04 AM
The logo of Vietnam's VinFast electric vehicle (EV) maker is pictured in a sales location at a shopping mall in Santa Monica, California, U.S., May 23, 2022. (Reuters/David Swanson/File Photo)

 Vietnamese electric vehicles maker VinFast VFS.O will open an EV business network in the Philippines, its parent company Vingroup VIC.HM said on Tuesday, in an announcement during the visit of President Ferdinand Marcos Jr.

The investment in the Philippines will start this year, it said in a statement.

— Reporting by Phuong Nguyen; Writing by Martin Petty