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EV maker VinFast to invest in Philippines this year



© Reuters. FILE PHOTO: A Vinfast electric vehicle store is shown at one of the company’s retail locations in San Diego, California, U.S.,October 20, 2023. REUTERS/Mike Blake/File Photo

HANOI (Reuters) – Vietnamese electric vehicles maker VinFast (NASDAQ:) will open an EV business network in the Philippines, its parent company Vingroup 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.

(This story has been officially corrected to show Vinfast is opening an EV business network, not a dealership, in paragraph 1)

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