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BYD delays Vietnam factory

BYD is delaying its plans to build an electric car factory in Vietnam’s Phu Tho province due to strategic considerations and a sluggish electric car market. Gelex Group, the operator of the industrial park where the factory was to be established, revealed this development during a shareholder meeting in Hanoi. BYD and Gelex have reserved 100 hectares of land for the project, but are currently seeking an appropriate timeline for its initiation.

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