JAKARTA, Dec 15 : Vietnamese electrical automobile maker VinFast will improve its funding in Indonesia to as much as $1 billion, its native unit chief government informed Reuters on Monday.
The assertion got here after VinFast Indonesia inaugurated its first manufacturing plant in Indonesia on Monday with manufacturing capability of fifty,000 automobiles per yr.
“VinFast will continue to increase its investment to $1 billion, with an increase in production capacity to 350,000 per year,” VinFast Indonesia CEO Kariyanto Hardjosoemarto mentioned.
The carmaker has invested $300 million up to now in Indonesia, he mentioned. The plant in Subang, West Java, not too long ago began trial manufacturing and anticipated to run at full capability within the first quarter of subsequent yr, he added.
Kariyanto mentioned that relying on future demand, VinFast’s funding in Southeast Asia’s largest financial system might finally exceed $1 billion.