Vietnamese electric vehicle maker VinFast is cutting its workforce in the United States, the company said on Monday, amid a restructuring in its major overseas market as the startup grapples with a stalled shipment of its first cars and prepares for a potential stock listing.
The Vietnamese company, a subsidiary of conglomerate Vingroup JSC (VIC.HM), has been moving to expand in the United States, where it hopes to compete with existing automakers.
EUnited States.
VinFast vehicles are not eligible for the $7,500 tax credit in the United States because they are not Vbuilt in North America.
