HANOI -- Authorities in Vietnam on Saturday approved conglomerate Vingroup's 21.4 trillion dong ($810 million) plan to build facilities that will be used to produce electric vehicle materials, components and parts.
Electric vehicles
Vingroup plans $810m project to lease factories to its EV parts suppliers
Move comes as electric vehicle maker VinFast looks to drive up 'localization rate'
A car frame is welded by robots at a VinFast factory in Haiphong, Vietnam, in 2023. © AP
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