VinFast chief plans to invest US$1b more from his fortune in EV maker

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Viinfast خبریں

Pham Nhat Vuong,Vietnamese Billionaire

HANOI, April 25 — Vietnamese billionaire Pham Nhat Vuong said on Thursday he planned to invest US$1 billion more from his own fortune into Nasdaq-listed electric vehicle (EV)...

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Speaking at a shareholders meeting of Vingroup VIC.HM, the conglomerate he chairs and of which he directly owns 18 per cent of its shares, Vuong said he could further expand investments in loss-making VinFast after he and Vingroup had poured US$11.4 billion into the company as of the end of last year.

“The electric vehicle market will continue to grow, surpassing combustion engine cars. I will not give up on VinFast,” he said.VinFast’s share price has plunged to US$2.5 from an initial listing in August at US$10, as the company failed to meet its sales targets last year and continues to report heavy losses.

 

آپ کے تبصرے کا شکریہ۔ آپ کا تبصرہ جائزہ لینے کے بعد شائع کیا جائے گا۔
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VinFast may release electric vehicles in MalaysiaThere have been sightings of VinFast's electric vehicles in Malaysia, suggesting that the Vietnamese automotive brand may enter the Malaysian market. VinFast has already launched its VF e34 model in Indonesia and plans to do so in Thailand as well. The company's Marketing Director in Indonesia has mentioned that their assembly plant will supply right-hand drive models to multiple markets. The VF e34 is equipped with a 110kW electric motor and can accelerate from 0 to 100km/h in under 9 seconds.
ذریعہ: Soya_Cincau - 🏆 16. / 55 مزید پڑھ »

Ringgit easier against US dollar at openingHANOI (Reuters) - As Vietnam's biggest conglomerate Vingroup doubles down on its electric vehicle business with ambitious global expansion plans, it faces growing financial risks stemming from loss-making unit VinFast Auto.
ذریعہ: staronline - 🏆 4. / 75 مزید پڑھ »