VinFast Opens EV Plant in India, Addresses Rare Earth Concerns

VinFast, a Vietnamese EV maker, has opened a plant in India to build electric vehicles.

This plant is a big investment and will also export cars.

Unlike other Indian EV companies, VinFast doesn't have the same problem with getting special magnets needed for the motors.

Other companies are having a hard time because China has limited the supply of these magnets.

Some companies are trying to use different types of motors or find magnets that don't need rare earth materials.