03:44 PM EST, 01/06/2025 (MT Newswires) -- VinFast (VFS) is building a second production facility in Vietnam which is expected to help the electric vehicle manufacturer more than double its annual production capacity once the plant begins operations by July, Nikkei Asia reported Monday.

The new facility located in Vietnam's Ha Tinh province will have an annual production capacity of 300,000 electric vehicles in its first phase of production, which will eventually double to 600,000 vehicles, according to the report.

VinFast also is building new manufacturing facilities in Indonesia and India that are expected to boost its total annual production to around 700,000 vehicles, the report said.

VinFast did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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