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Vingroup rolls out Vietnam's first auto brand

Automotive unit VinFast sets long-term production target of 500,000 vehicles

A VinFast automobile produced by VinGroup, Vietnam's fledgling automaker. (Photo by Tomoya Onishi)

HANOI -- Top Vietnamese conglomerate Vingroup opened a factory on Friday, beginning commercial production of Vietnam's first homegrown automotive brand, aiming eventually to build 500,000 vehicles a year.

This represents a bold move in a market that, while growing, remains small compared with some other economies in the region.

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