HANOI -- Top Vietnamese conglomerate Vingroup suffered a pretax loss of roughly 23.9 trillion dong ($1.05 billion) at its manufacturing segment last year due to sluggish sales of gasoline-powered cars at home and growing investments in the emerging electric vehicle business.
Vingroup's sales of gasoline autos rose 21% to about 36,000 units in 2021. But the group's assembly plant built during 2019 in northern Vietnam is operating far below capacity, as it can produce 250,000 vehicles a year.
