Vietnamese automaker takes bold and risky steps to challenge Tesla and Ford

It’s a bold and risky bet but one that sends a clear message to local automakers: the cards for the US electric vehicle market are not yet fully dealt. There are still places to take (and cards still to fall).

Vietnamese electric vehicle maker VinFast has decided to challenge Tesla (TSLA) – Get the Tesla Inc reportford (F) – Get Ford Motor Company reportGM (GM) – Get General Motors company reportRivian (BANK) – Get the Class A report from Rivian Automotive, Inc. and Lucid Group (LCID) – Get the report from Lucid Group, Inc. on American soil. VinFast will build a factory in North Carolina this year.