VinFast expands EVs to Indonesia with thumbs up from Jokowi

HO CHI MINH CITY -- Indonesia's president slipped into a white VinFast on the weekend, giving the Vietnamese electric vehicle producer its boldest stamp of approval yet to expand to Southeast Asia's biggest economy.

Joko "Jokowi" Widodo's state visit to Vietnam included a factory tour with VinFast CEO Pham Nhat Vuong, who is pushing into Indonesia with manufacturing, ride-hailing and taxis. Analysts say the move complements nickel-rich Indonesia's own EV roadmap, while offering a possible toehold for the Nasdaq-listed carmaker's broader retail play across the Association of Southeast Asian Nations (ASEAN).