Shares of VinFast Auto (NASDAQ: VFS), the Vietnamese vehicle maker that went public in a merger with a special purpose acquisition company (SPAC) last summer, tumbled 11.5% through 11 a.m. ET Wednesday after reporting big misses on both sales and earnings for its first fiscal quarter of 2024. Heading into earnings, analysts were already pessimistic, predicting […]
If you feel that the world doesn’t need another electric vehicle (EV) maker, you’re certainly not alone in that sentiment. Yet, the world is a big place, and there may be room for Vietnam-headquartered EV manufacturer VinFast Auto (NASDAQ: VFS) to grow over the next decade. Granted, no crystal ball can tell investors whether VinFast’s […]
Shares of Chinese electric vehicle (EV) stocks Li Auto (NASDAQ: LI) and XPeng (NYSE: XPEV), as well as Vietnamese EV maker VinFast (NASDAQ: VFS), plunged in March, down 34%, 18.6%, and 16.8%, respectively, according to data from S&P Global Market Intelligence. Expectations may have been high for this cohort heading into the month. After all, […]
I’m Brian Gordon, tech reporter for The News & Observer, and this is Open Source, a weekly newsletter on business, labor and technology in North Carolina. Last Friday, I visited one of the country’s few VinFast franchise dealerships to finally get behind the wheel of the much-discussed electric vehicle headed to North Carolina. Sometime next […]
I’m Brian Gordon, reporter for The News & Observer, and this is Open Source, a weekly newsletter focusing on business, labor and technology in North Carolina. When discussing VinFast’s goals in North Carolina, it’s quickest to just give the headline figures. The electric car company from Vietnam pledges to create 7,500 jobs and invest more […]
VinFast is enduring the same slowing demand and resulting “economic headwinds” as almost every other battery-electric-vehicle maker. Yet, despite the automaker’s first offering here, the VF 8, being generally (and kindly) considered not very good, the company still delivered almost 35,000 units in 2023. To entice additional demand while demonstrating its commitment to aggressive pricing, […]
Vietnamese electric vehicle maker VinFast (VFS) made a big splash with its public debut in the US last year. Its stock soared 255% on its initial day on the Nasdaq, after completing a SPAC merger with Black Space Acquisition, surpassing the market cap for Ford (F) and General Motors (GM). But it’s been a steep […]