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.
Automobiles
Vingroup loses $1bn in manufacturing on poor sales of gasoline cars
Vietnamese company makes big investments in shift to EVs
Vingroup's automotive plant in the northern Vietnamese city of Haiphong operated far below capacity during 2021. © Reuters
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