VinFast to make over $200 million investments in California

VinFast said on Friday it will make more than $200 million in capital investments and establish its U.S. headquarter in California as part of its plan to launch operations in North America.

VinFast is the automobile arm of Vietnam‘s largest conglomerate Vingroup.

It has become the country’s first domestic automaker when its gasoline-powered models built under its own badge hit the streets in 2019.

It is intended to debut in the U.S. with two battery-electric SUVs and inaugurate 60 showrooms throughout the country next year, the automaker said.

VinFast has said it will keep a watch over the possibility of a manufacturing facility in the U.S.