Vietnam-based electric car manufacturer VinFast decided to downsize in the USA and Canada
Vietnam-based electric car manufacturer VinFast has decided to downsize in the USA and Canada. The company, which decided to combine its operations in the two countries, started to lay off its employees. In a LinkedIn post published by a former employee, it was stated that 35 people were affected by this situation.
It was noteworthy that VinFast’s restructuring plan took place when the company was preparing to enter the US market and postponed vehicle deliveries in the country to February.
As of 2018, VinFast entered with two vehicles, one sedan and one SUV. The company turned its helm to electric cars by producing its own battery cells with an investment of 400 million dollars. In January of last year, VinFast launched the first electric vehicle made in Vietnam. and started deliveries of its first electric vehicle, the VF e34. It has been announced that the price of the vehicle will be 690 million dong, that is, 30 thousand 190 dollars.
In the same month, VinFast, which wants to strengthen its competitive advantage in the field of electric cars, announced that it has invested $ 80 million in StoreDot, which develops next-generation battery technology . Golden Energy Global Investment participated in the investment tour. The company will use the new investment to develop R&D and scale up. The company has so far received a total investment of $190.5 million from 14 investors.
The electric car industry is growing rapidly all over the world. These vehicles account for 12.7% of total new car sales in the European market. Parallel to this, although investments continue rapidly in 2023, manufacturers are not without some problems.
Last month, Netherlands-based electric vehicle manufacturer Lightyear stopped production of its electric car model Lightyear 0 . Lightyear said in a blog post that they stopped production due to strategic structuring. The company, which introduced the vehicle worth 270 thousand dollars last June, announced that it would enter mass production in December. Introducing the new solar-powered car model Lightyear 2 at CES 2023, Lightyear said that it will start production of the car in 2025. It is known that the company has been working on this model for 6 years.
