<ul><li>VinFast, the Vietnamese EV startup, is closing half of its Canadian showrooms just two and a half years after entering the market.</li><li>The company initially launched in Canada in late 2022 with plans to rival Tesla, opening 10 showrooms across Ontario, Quebec, and British Columbia.</li><li>Five of VinFast's 10 Canadian storefronts are closing, reflecting challenges faced by EV startups as the market cools and interest rates rise.</li><li>VinFast plans to maintain five showrooms in certain Canadian locations and is exploring franchise dealer partnerships in a shift from its direct-sales approach.</li></ul>

VinFast Cuts Half Its Canadian Showrooms as EV Market Cools

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