VinFast parent Vingroup eyes $500-million EV factory in PH

MANILA, Philippines — Vingroup, the Vietnamese conglomerate behind electric vehicle (EV) brand VinFast, is investing $500 million to establish a manufacturing facility in the Philippines, with plans to serve both the domestic and export markets. The planned factory will have an initial production capacity of 200,000 vehicles annually. READ: Gov’t unveils P60-B incentive to pitch PH