VinFast is a fairly young automaker that is part of the Vietnamese conglomerate Vingroup. It has been producing electric scooters and electric buses for a long time, but it won’t start producing electric cars until December of this year. According to Reuters, the Taiwanese company Foxconn intended to buy VinFast in northern Vietnam, but as a result of negotiations, the companies decided to work together.
For what needs Foxconn will use the power of the Vietnamese manufacturer, it is not specified, but it can be assumed that, for its part, the new partner will offer various components for electric vehicles, and will also allow VinFast to use elements of its platform to create electric cars. VinFast was able to form a joint venture with Taiwanese battery manufacturer ProLogium this month, so the partnership with Foxconn is a logical consequence of this move.
Recall that Foxconn intends to control up to 10% of the market for components for electric vehicles and services for their production by 2025, so the company is finding new partners at a high speed right now. In China, Foxconn’s manufacturing partner will be Geely, and recently announced a partnership with Fiat Chrysler. Foxconn will start producing Byton electric vehicles next year, and Fisker electric vehicles will be launched by 2023. A facility under construction in Wisconsin could also be redesigned to produce electric vehicles.
If you notice an error, select it with the mouse and press CTRL + ENTER.