Foreign automakers expand business in Vietnam

It plans to invest around US$40 million. Earlier Hyundai announced it would build a second plant in Việt Nam in the northern province of Ninh Bình. Mitsubishi Motors expects its second factory in the country to start production later this year. This contradicts prior announcements to stop production and switch to importing cars from their plants in other countries in Southeast Asia after the intra-ASEAN import tax was abolished.