Vietnam Vingroup's ambition to take on Tesla hits bumpy road

VinFast struggles to generate profit amid heavy upfront investment

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VinFast's plant in Vietnam's Haiphong is 90% automated, according to the company's CEO. (Photo by Yuji Nitta)

YUJI NITTA, Nikkei staff writer

HANOI -- Despite its big bet on the global shift to electric vehicles, Vietnamese conglomerate Vingroup has struggled to generate profit from its EV business, bogged down by a domestic market slow to embrace electrification and a troubled rollout in the U.S.

VinFast, the group's EV arm, boasts a cutting-edge production facility on Cat Hai Island in the port city of Haiphong.

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