VinFast, which is yet to make a profit, has entered the EV market at a time when car prices are under pressure, led by cuts at market leader Tesla and a range of Chinese companies, including BYD. The company closed the third quarter, which ended Sept. 30, with a net loss of $623 ...
On August 15thVinFast, a Vietnamese electric-vehicle (EV) manufacturer, made its trading debut on the Nasdaq, an American stock exchange. It was quite the entrance: the company’s share price rocketed, pushing its market capitalisation from $23bn to $85bn. That is almost as much as Ford...
FILE PHOTO: VinFast Global CEO Michael Lohscheller unveils the VinFast E35 SUV during the Vietnamese car company's EV global premiere during the 2021 LA Auto Show in Los Angeles, California, U.S. November, 17, 2021. REUTERS/Mike Blake/File Photo By Phuong Nguyen...
Earlier this month, CEO Pham Nhat Vuong and parent group Vingroup said they would inject $3.5 billion in new funding into the company. The goal is to achieve the break-even point by the end of 2026. Vuong, Vietnam's richest person, was appointed CEO of VinFast earlier this year. He ...
Vietnamese electric vehicle (EV) startup VinFast has announced plans to build an additional production facility in its home country, which is expected to double the company’s output and help meet increasing demand. On Sunday, VinFast said it is looking to build its second factory in Vietnam...
First up, Vietnamese electric vehicle startup VinFast has its sight set on becoming a major global car company, but its US rollout has been more like a roll coaster. When the company went public on the NASDAQ in August, it was briefly worth more than Ford and GM combined. But the ...
HANOI (Reuters) - Vietnamese electric vehicle (EV) maker VinFast signed an agreement on Saturday to set up its first manufacturing facilities in India, as the ambitious company seeks to penetrate the world's third-largest vehicle market. VinFast and the southern state of Ta...
its global deployment and develop emerging markets, said the firm.As a member of VinGroup, the largest private company in Vietnam, VinFast is the first Vietnamese car company to enter the global market and the first Vietnamese car company to produce electric cars and electric scooters.
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Black Spade is a "blank check" company, or a special purpose acquisition company (SPAC) introduced to public markets with the sole purpose of merging with an operating company. Some companies using SPACs—including other EV startups—have suffered big market drops. What's next for VinFast? Vi...