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Doris Yu · · 1 min readSources: Foxconn in talks with Vietnam’s VinFast about EV tie up
“Taiwan’s Foxconn is in early-stage talks with Vietnamese carmaker VinFast about partnering in electric vehicles (EV),” reported Reuters, citing two sources with knowledge of the matter.
Details:
- Foxconn has offered to acquire VinFast’s EV production lines, though VinFast prefers a partnership where it can maintain its EV business.
- The Taiwanese electronics major aims to provide components or services for 10% of the EVs around the world by as early as 2025.
Context:
- The Vietnamese car manufacturer said it sold around 30,000 vehicles in 2020 and expects to sell more than 45,000 this year.
- VinFast is slated to start the delivery of its EVs to domestic customers by December. The firm has set up its EV battery venture with Taiwan’s ProLogium this month.
Editing by Miguel Cordon and September Grace Mahino
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