HANOI, Vietnam (AP) — Vietnamese automaker VinFast, for a short time the third-most valuable car company in the world, has a big problem: It just can’t sell enough cars. Idle factories bleed money and the company’s financial health is at stake. After finding the U.S. market a tough nut to crack, Vinfast is hoping its […]
HANOI, Vietnam (AP) — Vietnamese automaker VinFast, for a short time the third-most valuable car company in the world, has a big problem: It just can’t sell enough cars. Idle factories bleed money and the company’s financial health is at stake. After finding the U.S. market a tough nut to crack, Vinfast is hoping its […]
VinFast Auto (NASDAQ: VFS) took investors on a wild ride after it went public by merging with a special purpose acquisition company (SPAC) last August. The Vietnamese automaker’s stock opened at $22 on the first day of trading and soared to a record high of $82.35 less than two weeks later, but now trades at […]
Having already postponed its promised North Carolina factory once, the Vietnamese electric carmaker VinFast is reportedly considering an additional delay to a planned $4 billion auto plant in Chatham County. On Wednesday, Reuters cited an unnamed source familiar with the company’s efforts in North Carolina who said the facility may not open until after 2025. […]
HANOI (Reuters) – Vietnam’s electric vehicle maker VinFast is being sued in a California court for not having paid rent for a store, according to a complaint filed by real estate services firm SPG Center LLC, which VinFast said was inaccurate. SPG Center said VinFast had rented the premises in a shopping centre in Palo […]
By David Shepardson WASHINGTON (Reuters) -U.S. auto safety investigators said on Monday they have launched an investigation into the April crash of a VinFast VF 8 electric vehicle in Pleasanton, California, in which a family of four died. The National Highway Traffic Safety Administration said the investigation will probe the April 24 crash circumstances and […]
Shares of VinFast Auto (NASDAQ: VFS) stock shot up over 60% this week, according to data from S&P Global Market Intelligence. The Vietnamese automotive group that makes electric vehicles (EVs) saw sizable early demand for its affordable SUV that is going to be sold around the world, including in the United States. Shares are still […]
Shares of electric vehicle (EV) maker VinFast Auto (NASDAQ: VFS) were on the move on Monday after the company announced it will offer a new in-car streaming service from Sony — and after the White House said it will sharply hike tariffs on EVs from rival automakers in China. As of 10:30 a.m. ET, VinFast’s […]
By Phuong Nguyen HANOI (Reuters) -Vietnamese billionaire Pham Nhat Vuong said on Thursday he planned to invest $1 billion more from his own fortune into Nasdaq-listed electric vehicle (EV) maker VinFast, and was considering listings for other companies he controls. Speaking at a shareholders meeting of Vingroup, the conglomerate he chairs and of which he […]
Shares of Vietnamese carmaker VinFast Auto (NASDAQ: VFS) skidded 6.5% through 1:55 p.m. ET Monday on bad news out of India. As The Hindu BusinessLine reported Sunday evening, a plan to have VinFast build a $2 billion car plant in Tamil Nadu, in southern India, is falling apart because of “confusion” over Indian government policy […]
Shares of VinFast Auto (NASDAQ: VFS) slumped as much as 30% this week, according to data from S&P Global Market Intelligence. The Vietnam-based electric vehicle (EV) manufacturer reported poor growth and earnings for the first quarter of 2024, causing investors to sell off the stock. As of this writing, shares of VinFast Auto have fallen […]
When VinFast Auto (NASDAQ: VFS) reported its first-quarter financial update this week, it had a mixed report for investors. The Vietnamese electric vehicle (EV) manufacturer reaffirmed that it expects to produce 100,000 EVs this year. But its first-quarter vehicle production and revenue were still a disappointment. That led analysts at investment banking firm BTIG to […]